It’s beginning to look a lot like bull run, having some 2021 bull run déjà-vu. In 2021, or rather late 2020, us started experiencing my first crypto bull run, I was able to 10X my $1k to $10k without any hassle. All I did was buy BNB, XRP, ADA and some other coins that I can remember. But I wasn’t smart enough to take my profit, I was expecting the market to keep pumping but unfortunately I learnt the hard way, I watched my portfolio dip so badly. Now we are about to enter another bull run, it’s time to have an entry strategy and an exit strategy. But before you think about that, let’s take a moment to reflect on our bull market starter pack.
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Last bull run, my starter pack was CoinGecko, CoinMarketCap, Binance and trading view. CoinMarketCap and CoinGecko were used to search for coins info, their market cap, their supply and price. These apps were my best friend, they are still my best friends because I never stopped using them, still use it till date. I think the last bull run made me love those apps. I was using trading view to track my entry point, using my technical analysis skill then, I was able to analyse my support and resistant points. Binance and other crypto exchanges were used to buy buy and get access to these coins.
This year, it’s pretty much the same with some extra apps like the phantom app, MetaMask, and some new chain apps like the SubWallet app. I now use telegram like it’s no man’s business because I get valuable crypto information from there.
Let’s talk about your exit strategy, have one, don’t be like me that held from $1k to $10k in the bull run then watched it go back to $1k in the bear run. Have a goal, a target price and exit when it gets there, don’t be greedy.