A second wave of China news, or FUD, as those that still hold like to call it is upon the crypto market.
I'm only going to tell that every Crypto did great this time, and there are many of course that were very late in the party, and as usual they will lose money, at least all of us that stayed loyal and kept working, we made enough from this.
I trust the tech. But it is no harm to trade. I am trying to accumulate at low prices and sell when I see euphoria.
There is a pattern when buying low and selling and a good way to make some money that will be life changing. But you need to time everything and not be following the masses.
If you do everything correctly you can make 100x from your crypto investment.
Buying low needs to have guts, because if you want to make a million or two, you have to gamble. Just saying again you have to time your trades. Buying now is going to be a mistake. You will buy when the market is down enough for everyone being ready to quit. It will be next year or in 2023. We buy then, and we don't start selling until we make ten times our money.
We need to be greedy and keep holding and not allow our emotions to block our judgement. We stick to the plan. Made perhaps $100k from our initial $10k investment, we withdraw just that $10k we started with.
Altcoins can grow a lot, we bought those we think they will keep rising and we keep holding less and less.
The big mistake is when we double or triple our investment and sell everything. We can't do that because the implied profit is way more. Look at those guys that made millions out of Shiba Inu in just two months.
They had no idea about crypto, someone they trust told them to gamble $500 in it very early and they made it. Others lost, however if you diversify at the right time, you got this by the balls. The price of Bitcoin is important and has certain levels. At times it will expand and grab all the dominance it can, and then whales will begin the pump of altcoins.
We can't predict when and how, we just hodl our shitcoins without any fomo and we don't spaz in and out. This is all beginners trades. We hold and sell in steps.
Until the price reaches our targets to sell what remains we keep selling the bull market in steps. 10% on each top we find, on each time we see the market declining, but not all because the bull run doesn't just stop in a month or two.
This is it for now. I wrote this and I will come back with charts and some visuals. These is some thinking I've been doing to improve for the next time. I have been bearish since BTC $65k and expressed this in my series of bear articles on read.cash.
I hope that you considered and if you are traders like me you did the right moves. Heck, I've even called the top of the dead cat bounce with my previous post.
No worries though guys. Even if you lost money, you can still break this market. It is not easy but if you stay around and keep reading you will not lose again. You read this from someone that was used to buy the top and sell the bottom.
I've changed, I've made remarkable profit in 2020 and 2021 and you should too. This is a market that rewards those that stay for a long time, and those that make bold moves when everyone else is gone.
The bear market is an opportunity. You will buy with very low risk again when prices have settled and your risk/reward ratio will help you take better decisions. I will keep posting in read.cash and explaining my strategies and while sometimes I'm wrong, usually I'm not.
will keep this on mind, Bear market is an opportunity. and it really is. as the common advice says, buy the dips.