As Bitcoin starts to break 10k, I'm seeing a lot of excitement in the market, we're seeing scams come out, moon boys and girls calling new tops and all-time highs, and the "bubblenomics" of Bitcoin starting to slightly boil. Seriously, it doesn't take much for these people to want to rally, they've been waiting years since 2017 for their time to shine and it could almost be upon us.
The truth is there's going to be a lot of FUD and Shilling and both will have plenty of miss information but one thing I can tell you, to avoid is anyone saying they can call tops or bottoms or when to buy-in.
Evaluating your information
If they knew, they wouldn't share it with you, they'd be securing their positions and then just waiting to buy and sell making millions and never needing a cent from you on Patreon or YouTube ads.
Always question the information you get in the crypto space as well as the person providing the information. If they don't openly admit their biases and agendas, you'll have to assume what they are but don't be fooled, we all have them.
Market calls are easy money
I guess this heading is quite misleading but yes market calls are easy money. It's easy content to make into a 10-minute video with some fluff narrative and charts and saying if the price is going up or down. As prices go up these TA and market accounts do pretty well.
They don't create this content to inform you:
- They create this content to get easy views they can monetise.
- They create it to shill their affiliate links and get you buying and them earning a commission
- They create it because they were paid to make the video
- They create it because they have a position they want to liquidate and leave you as the bag holder.
If hedge funds with billions under management with the best information and tools can't call the market, what hope is there from someone with a YouTube channel?
Come on be serious with yourself.
Don't time, average in
Trying to time the market is dumb, you're only guaranteed to lose money and give yourself a whole lot of stress in the process. I pulled up a chart of the run to 20k and what you can see is literally 10 calls, these are either over 1 - 3 days where you had to know to get in to make money.
Trying to find those calls are almost impossible, yes there will be people who buy-in at the right time, but that's a minority and they'll pump that good luck to the moon but they can't replicate it.
If in 10 days of swings you can go from 700ish to 20k you're better off just dollar-cost averaging and trying to stack sats. If you want to make money in this market its, not about timing it's about position sizing, you can up your DCA when you feel like it and this is where you can be strategic in improving your positions over time.
At the end of the day, more sats should be the goal, not more dollar value, if you have sats, the value will come. This is not a sprint, its a marathon, pace yourself.
Have your say
What do you good people of HIVE think?
So have at it my Jessies! If you don't have something to comment, comment "I am a Jessie."
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