How many generations of new crypto newcomers do you think were "born", with each new ATH of the strongest crypto currency, BTC?
Is it possible that that hit to the highest historical value, every time, like the sound of a big gong, wakes up all those who once heard about crypto, but did not think of entering the crypto world, until that "most loud" moment.
Perhaps they are further stimulated by the confident promise
s of various crypto magicians on various streaming platforms, who with the new rise in the price of BTC, every time swear a new bullrun and offer themselves as mentors for guaranteed earnings.
And it must be admitted, it sounds nice:
"Look, it's finally started, now everything is growing, now we will become millionaires".
Is it really so? Does that apply to everyone?
Of course not.
Millionaires will perhaps become those who have been in the crypto for years and who did not rest when the bear ruled, and those who already have them ($$$) and who are most deserving of volatility will certainly double their millions.
Not newbies at all.
I feel very sorry for all those non-crypto people, who get caught up in the sound of the gong, and do not hear the whispers of experienced crypto veterans, which can be heard when a bear is nearby and when the market is at its most silent and dead.
When the bear is in our crypto yard, they are never loud in their advice: "Now is the right time to buy at least a small part", maybe they are afraid of the bear 🙂
And when the gong strikes, then greed appears, the FOMO effect (Fear Of Missing Out) wakes up, the noise from the top overpowers the loud warning of crypto veterans: "Now is not the time to buy, you should sell at least one small part".
The longevity of any newbie in the crypto world depends on who and when they hear
Did the whispers reach their ears in the time of the bear or the clamor and clamor in the time of the bull?
I was lucky, even though I am a "younger" generation in the crypto world, the word reached me in the winter of 2021, so somehow I survived.
Although with a wounded wallet, I told some of my friends about the crypto in the summer of 2021, when the situation looked tricky, but I did not give up.
I didn't come out of the crypto story in the red and I survived big waves of change.
The friends I told about crypto and my beginnings in the summer of 2021 didn't hear me then.
I was sorry, because towards the end of the year, they didn't have a chance to make a profit.
After that, I had no desire to tell them about the cycles in the summer of 2022 and the whole of 2023, because I adopted the abbreviations that each of us should say often.
Especially when he talks about the crypt.
NFA - Not Financial Advice, and I am not a financial advisor.
Another acronym, fundamental to life in the crypto world, is DYOR - Do Your Own Research.
It is sometimes tiring, difficult, incomprehensible, but only when you independently decide in which direction you will live crypto, you will have peace.
Even if you experience flood and loss, you will know "That you did your best".
Those friends of mine, who didn't listen to me four years ago, now heard the Gong.
A businessman they know invested a large amount of $ in ETH at the beginning of April, and took a profit from it after a month.
"Now is the right time to buy crypto, it has started to rise, should we buy BTC?" one of them wondered.
Since I'm not a trader, so I don't follow price movements on a daily basis, I took my phone, looked at the chart for BTC and said: "I don't think so now. A month and a half ago, yes, but today, 24/25.05, I wouldn't do it."
"But of course, what I am saying is not financial advice (NFA), do your own research (DYOR) because I don't want to lead you to something, so that you later blame me, that you lost money from your earnings or that you missed an opportunity to earn."
We parted without talking about the crypto, and they said that they would follow up a bit to see how accurate what I told them was.
My phone rang yesterday, one of them told me: "Well, since Saturday, when we talked, BTC has increased by a whole $4K, fuck it, we could have taken the money."
"Of course you could, but you could also remain without profit (because you will lose on BTC only when you sell it)".
It wasn't the most clear to him, so I repeated: "DYOR and on the chart look at the candles with a duration of a week or a month and remember the summer of 2021 when I told you about the crypto."
When I hung up with him, I knew he wouldn't care when he looked at the price of BTC in those days in 2021, and I knew he would have a hard time sleeping, but I'd rather him be sorry that he didn't make a profit, than that with an emotional investment at the moment and the FOMO effect he's feeling now, he'll experience a loss and want to forget he ever heard of crypto.
I fell into a peaceful sleep, because I repeated to him several times - DYOR and NFA.
And judging by the price at the time of this writing, which has fallen below the price when they asked to buy, the words DYOR and NFA have gained even more power.