Just wanted to express my thoughts on the insane ride that is the crypto market, especially now that we are about to approach the much anticipated Bitcoin halving event.
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The Crytpo world can be equated with a wild horse galloping at full speed but with sudden turns and twists. And currently, it feels like this will be the wildest yet. But why?
This is all for one reason: Bitcoin halving happening every four years.
Nowadays people are predicting that Bitcoin could go as high as $100k or even $500k!
Let’s get real here for a moment. For more than ten years now some individuals have been chanting this mantra, hasn’t changed anything has it?
Yes I am not mistaken. They have been missing their estimates year after year, so if you want to be part of those talking about mooning prices remember this; do not make hasty decisions based on idealistic predictions
Now, speaking of predictions, do you remember how Bitcoin was supposed to hit $100,000 when ETFs would have been approved?
Well, sorry folks: it never happened. But that’s the problem with cryptos. They are just not predictable and so even though it is okay to have big dreams, one should always be real.
So let me give you some plain advice as we gear up for what could possibly become the most volatile month ever in crypto: don’t get carried away.
I mean it – avoid this. Ensure that you refrain from over-leveraging yourself, you do not blindly throw your money into risky deals and stay away from those shiny yet dubious low-cap gems everyone is shouting about.
But instead go after security. Look for projects with solid foundations and which have been around for a while now. And by the way, I am no financial advisor, but here’s my two cents; spread your risk across various tokens and limit them to a number of cryptos that you feel good about. “Buy the dip” they say, there is wisdom in that. Buy those red day deals when possible
But then, do not forget why you got into cryptocurrencies in the first place: to earn money. This is not about holding on your investments for dear life. No, it’s about enjoying your hard work. What’s the point of profits if they just make one anxious?
So here is my plan: keep it simple, keep it safe. Swing with the tides but never allow them sweep you off your feet. And above all, don’t forget that crypto is a marathon and not a sprint. Moderate yourself, don’t be ignorant and most importantly, have fun.
To sum up guys – volatility should be embraced but wisely?
Well, Crypto might be a rollercoaster but through prudence and good judgment we can get through the turbulence and emerge victorious in the long run. Happy trading to you all!