When is the next bull run?
This question would always come to mind, especially to those who have knowledge of cryptocurrency and are into cryptography. It's not something predictable to know the actual time of pump and dump and this is what brings about the volatile nature of cryptocurrency.
The last crypto pump was a little unexpected to me and though there might be signs and predictions of it coming most people never saw it coming. That year was the time I had the craziest experience with cryptocurrency. I lost a lot of money and I also got a lot into my wallet. I learned a lot of lessons and also taught people some lessons.
My experience with the last crypto pump
I have been into the blockchain for years now. I could date back to 2018. But I had a little knowledge about what crypto is all about. All I knew was an avenue online that pays for what I did. I didn’t know how to trade back then or even the true value of those tokens I had.
Two years later I already learned a lot within a little timeframe. I got to explore more and learn more. At this point, I began to trade my tokens myself and even got familiar with some exchanges. Most of which ran on the Ethereum blockchain back then. The Ethereum chain was the best for any DApp back then. After BTC which was just unique on its own. Any other crypto project ran on the Ethereum chain.
It was late 2020 when the sign of the bull run started surfacing. I experienced some huge pump with the few tokens I had then. It pumped around 60% and that gave me a huge profit. I was able to trade before it dropped again.
Early 2021 was when everything went bullish on crypto. I never experienced one before that became my first. It was said that the last bull run was around 2017. I never knew. But I felt this bull run I get to experience I must make use of it to the fullest.
The funniest part here is that it now become harder to differentiate between legit crypto projects and fake ones. There are a lot of projects coming onboard claiming to be legit and there are a lot of airdrops too.
I was fortunate to be eligible for some of these airdrops I applied for then and it helped me go a long way into my investment plan. You need money to make more money. Don't you think about the reason why the rich continue to get richer?
The airdrop was worth it and then I took good advantage of it by trading some part of it to invest in other tokens too. I took my time to sort out the shit coins and scam projects from the real and legit ones. I invested randomly and also made sure I didn’t FOMO on any of these projects and got to buy at the top.
Lesson learned
Taking profits.
Being so greedy is one way to lose it all. I remembered how my friend got to lose all of his funds through greediness. He was so bullish and anticipated for extra pump without getting to take good advantage of the present pump and take profits from his trade. I tried advising as much as I could. But he never did, instead, he went on to buy other coins at the top when the price was at the ATH. He encountered a lot of loss and blamed crypto volatility as he promised not to get involved with crypto anymore.
Taking profits, knowing when to go into any market and when to exit is so important as market research and then not getting so greedy about this market is one way to profit from crypto. Knowing is also important. My brother got to lose all his lifetime savings to trading futures and margins on the Binance exchange. I don't know what got him close to trading futures but he got liquidated at the end of it all.
Conclusion
Crypto is so volatile and no one is responsible for your decisions. Care has to be taken to prevent oneself from encountering scammers and fake projects that are based on rug pulls. Having a market indicator is also as important as trading itself.
No one can say when the next bull run would be but at least we are getting prepared for its arrival. There are lots of predictions out there but what matters most is to make sure we take good opportunities whenever it comes around again. Can't wait to witness the next crypto bull run and bullish market experience.
Header image from Pixabay and edited on Canva app
Image 2 from Unsplash.com
