Hello everyone, Happy Sunday to you all. Today is father's day and on that note, I am making a special shout-out to all fathers around the world, they don't get celebrated as much as mothers so they truly deserve all the attention today. Thank you to all fathers that are taking good care of their families.
As you all know, we are currently in the bear season and it looks like things are getting worse every day. I stopped looking at the crypto market when I saw BTC going down below $20k, despite all the predictions that it won't get past that price but today, I took a look at the market when infinity mentioned that BCH is making a comeback despite the continuous dip of BTC (read his article here to get more details) I just hope BCH keeps gaining momentum and go higher.
Today's article will be talking about the different people you will come across during this cryptocurrency crash and their various strategies for coping with this bear season. I have seen a lot of them online, so I just thought to make a fun article out of it 😁. Now, let's begin.
1. The legendary daredevils
These are the sought of people that will see a burning building but still run into it to pick up some money, they don't care about getting burnt in the process. While everyone is seeing a bleeding market, they see a goldmine. They pick just one coin and indulge in continuous spot trading while sticking to one strategy: buy the dip, sell the pump.
Even when the dip gets dipped, they also buy the dip! The dipper it goes, the harder they buy, and then they just have to wait for it to pump a little, then they sell, it doesn't matter if their profit is just 1 cent, at least they didn't lose, right? They will always say; "any trade you walk out from without getting burned is a good trade"
2. The "hit and run" traders
They are similar to the daredevils atbut there's one key difference: they hit up multiple coins and run after making a profit. They have a good eye for spotting a coin that's dipping fast and they quickly buy when it has dipped well enough then they sell when it pumps high, after that, they move to another coin. They scrape off little profits from as many coins as they can get their hands on without risking too much on just one coin.
3. The defenders of the cryptoverse
You shouldn't dare make any negative predictions when these sets of people are around, they are ready to drag you to hell if you say something bad about crypto 😂 you feel bitcoin will get to $10k? You better keep it to yourself because the defenders are ready to drag you to hell and erase you from existence for blaspheming against cryptocurrency.
4. The depressed trader
Their entire lifesaving of over $500k was used to buy Bitcoin because they heard the price is going to pump to $100k before this year ends, but now their $500k BTC is only worth $90k! Oh, the horror! They are always having panic attacks anytime they look at their portfolio and their heart rate keeps falling along with the market. The extremely depressed ones end up taking their life 💔
5. The end-time messiah
"Sell off all your portfolio, the end is near", they go all over the place trying to get people to sell all their coins and that's mostly because they have already sold theirs and want more people to join them so that they won't regret their decision when the market starts pumping (it's like you wishing your friend also fail the exam so that both of you can cry together. Yes, I am talking to you)
6. The false prophets
They call themselves crypto experts and make you believe they are the best when it comes to predicting the market but the market always does the opposite of what they have predicted. They tell you that a coin is going pump soon and you should buy it. The moment you follow their advice; boom! The coin dips again with over 30% and you will feel like ripping off their lying tongue!
7. The eternal hodlers
There is nothing you can say to these sets of people that will make them sell their coins, they are ready to go down with the sinking ship. They already know they have lost over half of their portfolio, selling at that point is a major red flag for them and they will rather wait for the market to recover, even if it takes 5 years.
Wrapping up
That's all for now 😆 if there are more I haven't mentioned and you know them, please let me know in the comment section. But from all these I have mentioned, which of these sets of people do you belong to? Tell me about it in the comments below. As for me, I am one of the eternal hodlers 😆 I don't really have much of a choice right now when it comes to my coins, so I rather just stick to the less risky method and hodl.
Thanks for reading 💖💖💖
Sunday June 19, 2022
You have really studied and observed different kinds of people in this situation. You took your research serious 😅😅