Timing The Crypto Market
It has been a while since the crypto market had a breather from the bears, Bitcoin testing $18k brings some excitement as Altcoins display their green sides.
A bullish rally of this kind is questionable whether it is for a short-term or a rally that could propel the market into a much anticipation bull market.
Regardless of the market direction following Bitcoin at $18k, the market does need a breather and it has gotten one at the moment.
Buying The Dip
It is an investor's responsibility to ensure not to buy at the top of the market, this has been a major challenge that leads to timing the market and waiting on a bottom price range.
The reality is the market moves in any direction as it pleases, so trying to time the market might be more dependent on luck than being spot on.
Some have plans to buy when Bitcoin drops to $10k, it is too soon to conclude we are out of the bear market at the moment, a lot is still lingering about the FTX incident, and trust in the market is far from fully regained, therefore a 10k BTC might be a possibility for those wishing to buy at that price range.
An interesting observation within the cryptocurrency space is, there's rarely a price range where we are ever fully satisfied to buy in. I never saw Bitcoin dropping to $30k after setting an All Time High (ATH) of $69k, in November 2021. It is left for anyone to decide whether the current price level is a good entry point or not.
We had Bitcoin hovering in the $16k-$17k region for a while and some still wish for $10k which makes me think we will always wish for a lower price entry.
FOMO
Should Bitcoin touch the $20k mark, you are bound to find buyers throwing money at it, they want to get in before it hits $30k.
It is exciting how the market controls people's emotions, as witnessed on Hive with fewer activities during the bear season, and people come back to being active during the bull season.
To avoid falling for FOMO, a better approach might be the long-term approach, is an approach that has made me immune to the market influencing my reactions.
I react the same way all season bear or bull, I believe there's no better time to buy than at present, and implementing the Dollar Cost Averaging (DCA) method makes building cryptocurrency portfolios better for those that can do DCA.
Patient and time have been known to be more rewarding in the crypto space than jumping in and out of the crypto market as a result of FOMO or Fear Uncertainty Doubt (FUD), getting involved in project(s), sticking to it through bear and bull, holding position(s), and avoiding being a bagholder has been my approach and am sticking to it.
As for the bull season, hopefully, this is the beginning.
This article is also published on Hubpages.
What Is Hive?
We owe it to ourselves to make Hive great
Image by @doze
Posted Using LeoFinance Beta
https://twitter.com/177158254/status/1613537849839849472
https://twitter.com/1460818780980973570/status/1613539121204531201
https://twitter.com/1331330355513745413/status/1613555368390713344
The rewards earned on this comment will go directly to the people( @joetunex, @hivehotbot, @taskmaster4450le ) sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.
This post has been manually curated by @bhattg from Indiaunited community. Join us on our Discord Server.
Do you know that you can earn a passive income by delegating your Leo power to @india-leo account? We share 100 % of the curation rewards with the delegators.
Please contribute to the community by upvoting this comment and posts made by @indiaunited.
You have said absolutely right thing, when btc went up to 18k then heart felt very good. Why has the crypto market become greener for a long time
It is nice to see the excitement in the crypto space at the moment following Bitcoin's movement. Green candles puts smiles on our faces.
!PIZZA
Posted Using LeoFinance Beta
yeas bro
The fact that no one even saw that drop is one of the reasons why I think we might even hit 80 to 100k in the next bull market. However, I feel the market will slowly recover this year, just little baby steps to bring back the confidence.
Honestly I am of for the baby step recovery and am sure most will do as well. It's been a long bear market with a break needed.
Anything is possible, I recall how BTC was flying toward the ATH, it will be great experiencing such movement again.
!PIZZA
Posted Using LeoFinance Beta
I gifted $PIZZA slices here:
joetunex tipped josediccus (x1)
joetunex tipped young-kedar (x1)
joetunex tipped lifeof.abdul (x1)
joetunex tipped arsh11 (x1)
joetunex tipped p1k4ppa10 (x1)
@joetunex(2/10) tipped @jfang003 (x1)
joetunex tipped mistakili (x1)
Learn more at https://hive.pizza!
One day one day bull market will arrive. Till then we grind
Posted Using LeoFinance Beta
We're known for grinding, 2023 is no difference.
!PIZZA
Posted Using LeoFinance Beta
With crypto, I also trying taking the long term approach. Time in the market will always beat timing the market. Crypto is still unpredictable and the market can always go either way.
Timing a market that is as unpredictable and volatile as crypto is more like playing lottery, utilizing time through compound interest could work out better.
!PIZZA
Posted Using LeoFinance Beta
Exactly! I recently read somewhere that the crypto space is a giant casino and we're all trying to hit the the jackpot.
And he who is patient enough might just hit the jackpot 🙂
Posted Using LeoFinance Beta
Absolutely! Patience can go a long way in creating luck.
Well yes something is moving... let's hope the trend continues.
In any case, it is good to remain optimistic and, badly, we will continue to buy at a discount, waiting for a net recovery😉
Staying optimistic has gotten us through the hash bear market of 2022, I'd like to think the worst is over, hopefully it is.
!PIZZA
Posted Using LeoFinance Beta
I too like to think that the worst is over... moreover, we must always look at the long term... after so much worse there will also be much better for those who resist and insist!
This is a good start indeed. Let's wait to see what happens in the next few days. To the moon!
A good start and treat to the new year, we shall see how it pans out.
!PIZZA
Posted Using LeoFinance Beta
I still think the trend hasn't really changed and I can't get the feeling that there is a bull trap coming up. However, I am happy about the increase in prices and timing the market is very tough. I prefer to just focus more on the long-term because I can ignore the short term price actions.
Posted Using LeoFinance Beta
It is exciting to see prices in green but the feeling of the bear season still hangs around until we see this price uptrend is sustainable.
!PIZZA
Posted Using LeoFinance Beta