Dumps are sweet to grab!

The value of cryptocurrencies is expected to keep going up and up forever, which is the sentiment most wrongly interpreted by the masses. Last week, before the current dump, one of my known people from my locality asked me which coin to buy now. He was very serious about the decision and wanted to dive into it instantly as he thought the bull-boat had already left the beach. As I have been in the space for a long time, and this season is the third cycle that I am going to explore, so he always asks me for various queries for entry.

I am damn lucky that I suggested he not enter at this hot peak, as there was no drop after the recent drop in the market. However, it is because 2024 is still very early, and markets are still going to set new records. Now, most people who bought during the last bull are now making money, so the whales are free to take their gains if they want to. And most importantly, it's still hard to change prices because "whales" keep making waves in the market by buying or selling large amounts. The halving of BTC is important because it changes supply and demand, which could cause prices to go up every time.

And maybe this time I think our goal is much higher than $75,000. But it is very interesting to read the psychological thoughts of the people around me about chasing the price without any study, market analysis or any kind of trend analysis. I have told him several times about the cycles, and now is the crucial time to enter as this is the starting period of the exiting period with massive gain. I have gained 20% on my position and am waiting for the next move. I feel very hard to convince him that no price will increase like a straight line; everything will drop, and break the record to create a new all-time high.

After a discussion with him, all of a sudden, the price of cryptocurrencies hit an all-time high, which shocked the market. People and investors alike have been enthralled by this bull run, which has brought him to have another conversation with me. Why are prices going up this fast? What impact do big buyers have on the market? The most important thing is dealing with instability and maybe even making money in this interesting but risky field. I just told him that everything is happening in normal movement and he was telling me I should join that time when he ask for the suggestion. I couldn't tell him what I meant to stop him from diving at the peak of moves before the next move; it would drop a significant percentage.

So, I told him to wait for some days; price would drop when he got a better opportunity, and you would thank me for this suggestion. , However, the market is going to be much higher as many coins are making their moves to break the old records as most of the coins are still struggling to reach half of their ATH level.

And now the time is here, and my local mate thanked me for my precious suggestion. I have also checked the market and found it so interesting, and I thought I should also wait for the current situation. In one of my hive trades, I sold around 48 cents and bought them back around 42 cents for a good profit, but now it has come below 40 cents, which was far below what I thought. As I don't have much time to explore the market too closely, I try to grab each opportunity that comes and leave with a free opportunity.

I am currently not a day trader or a close market observer, but I try to check the movement on a daily basis to find risk-free entry and exit once or twice a month. So, my trading frequency is on a monthly basis as this is my hobby, not my main business, nor do I have a huge investment in the sphere. However, my goal is to grow my assets as steadily as possible without any loss.

I understand the potential risks that I need to bear with practical incidents that often take place in the sphere. Despite these risks, there are more benefits in the crypto market if you can do your work sensibly. There are many strategies to assist you in managing the volatility and safe your funds.

'DYOR', which is 'do your own research', is the greatest approach when it comes to investing in any assets or stocks, but for the crypto world, it is far more crucial than any marketplace. Before purchasing any cryptocurrency, it is important to thoroughly investigate the project, the individuals behind it, and the underlying technology. Acknowledge the project's objectives, potential uses, and associated risks.

The Diversification of your assets is another strategy, as putting all your eggs in one basket is risky in the crypto universe. Diversify your holdings over a wide range of asset classes, including cryptocurrencies, to lower risk. Consider allocating a small portion of your whole investment portfolio, based on your risk tolerance, to cryptocurrencies. Always keep in mind to "Invest Only What You Can Afford to Lose." Make only investments that you can afford to lose because of the bitcoin market's inherent volatility. Never invest money that you cannot afford to lose.

My blog is only intended to be informational; it is not intended to be financial advice. Make sure you do your own research and consult a financial advisor before making any investing decisions.

I appreciate your time and attention. In the next bull cycle, what are your plans and thoughts? Tell us in the comment sections so that we can all understand each other. Make wise investments, do your investigation, and remember that the most significant gains are often not monetary but rather the learning we get along the way.

I hope you have a pleasant day!

Posted Using InLeo Alpha