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Bitcoin - Practicing Patience

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Written by   209
9 months ago

How Much Longer?

This is a question that I am sure many are currently wondering. The rocket ship appears to be late and many are concerned about the market changing direction in the long term. There are some that have come out and said that the bull run is officially over. One of these voices is veteran trader Peter Brandt. Mainstream media has been pushing headlines that credit Peter for calling the crash at the end of 2017.

However, they forget that Peter also said BTC was going to zero in 2019. Unfortunately, these predictions are in complete contrast. In one case, the fairly accurate analysis compared to an absolute unthinkable prediction that was not only inaccurate but was actually the launchpad that eventually catapulted BTC to $69K. If history is anything to go by, according to Brandt's last prediction, then this is a contrary indicator and we can expect an upward surge relatively soon. There definitely is a likelihood that BTC retests the $42K zone but I don't think we are about to enter into a multi-year bear market.

Influencers & Their Predictions

This is something I find concerning, analysts are seldom held accountable for their expectations. How is it that a well-known analyst like Brandt gets remembered for an obvious call in 2017 and not for the absolute fail of a prediction, which called for the complete collapse of Bitcoin? Readers should be following influencers and analysts that get it right the majority of the time. Are you keeping count or are you blindly following the predictions of persons who have got it wrong consistently? This is a question you need to ask yourself. Even some of the more well-known influencers start shilling projects long after they have pumped. You need to be on the lookout for guys who were talking about those projects long before they pumped.

Patience Is Key

Fortunately, the Crypto market does not make you wait as long as traditional markets in order to experience significant gains. Even in the event that a bear market surprises everyone, it will be short-lived and investors can look forward to significant gains in the near future. The patience of the hodlers of last resort has proven to be the secret ingredient to massive gains in BTC. History has thus far proven that patience is far stronger than any bear market.  

Remember why you are here and where you are headed. This will encourage you to hodl through the toughest of times. You need conviction to go the road, which is why many fall away. They simply showed up in order to cash out and when that looks unlikely they simply fade away. Many reading this will affirm what I am saying, as the wealth they now hold in their portfolios is the dead weight they carried through 2018 and 2019. Those who fade away will never experience this fulfillment and success.

No pain, no gain!     

Disclaimer

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Written by   209
9 months ago
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Comments

Part of the issue with SOME predictions out there is that there simply is not much to go on. How does one truly valuate something in this market? Many are using charts, and being an investor in the stock market for 30+ years, while I use them nominally, they are never a real gauge of anything. Just short term indicators, if you will.

If I could find the real fundamentals that are supposed to determine the value of crypto, maybe I could make better future predictions myself.

Either way, always interesting what you present here.

$ 0.00
9 months ago

Ok so it is kind of interesting to note that like you say trying to establish a true market valuation is difficult. What you can do is try to find projects that are basically still undiscovered. Reading my latest article might help some. https://sapphirecrypto.org/2021/12/20/research-metrics-crypto-investment-decisions/ , you may not know where exactly a well-known coin will go but long term, if you pick the winners you should do ok... better still pick the winners of tomorrow.

$ 0.01
9 months ago

Cuando damos nuestro criterio desde nuestro punto de vista quisas hallan miles en desacuerdo pero es tu forma de ver las cosas y no hay porque juzgarlo. Pienso que en este mundo de las criptos debemos de tener mucha paciencia. El desespero nos Hase cometer errores.

$ 0.00
9 months ago

Wow, very well said.

$ 0.00
9 months ago