Cryptocurrency Market Resistance
For a cryptocurrency trader or investor, it is not a new phenomenon that the bull and bear market exists even though many of us prefer the bull market to its 'counterpart' bear market. However, one thing is certain whether in a bull or bear market; none of the seasons lasts forever. They are bound to come and go. All we have to do is to utilize whatever season we see to our advantage. When it is a bull market, we should know that it is time to make some profit and not hold for long and the bear season might come as a surprise. The bear market which many of us don't like tends to last longer than the bear market. I remember the last bear market which lasted for about two years or even more before we could see a slight surge in the price of the cryptocurrency last year in November. The bear market is the time to buy and hold more positions. I like this saying' buy more as it dipped. No matter how dipped the market goes, it is worthwhile to know that it will certainly skyrocket. It might take days, weeks, months or even years but as long as you don't panic sell, you will make a fortune with time.
This too shall pass
Every one of us is aware of the little challenges or should I say hindrances that plague cryptocurrencies lately, particularly the news and the fact that the price of BTC trended downward losing about 10 to 15 per cent value. I would like to use the phrase, ' This too shall pass. The dip we witness right now is for the best in my opinion. We are not yet in the bear market. The market only reset to gather more momentum to bullish further. The good news is, we haven't reached the BTC Halving yet. So, we should be optimistic and only focus on investing more. No more what, don't panic sellNote: this is not financial advice, it is strictly my opinion.