Hello crypto lovers!
I must confess, I am very worried about the current state of affairs in the cryptocurrency industry.
Why?
Bitcoin has been breaking records every day and this might sound cool, but it has begun to make me feel a bit nervous.
It’s been an astonishing run when you look at the charts. For over a year now we have been climbing up slowly which may sound good, but that is not often what economists and traders want to see.
It is somewhat like eating only sweets continuously – initially it may seem enjoyable, but it is not healthy for a long period.
I had some projections about Bitcoin and Ethereum and they have been quite right as things stand today.
Nonetheless, there is one problem here: I thought Bitcoin would take a time out after achieving new highs; yet it does not happen.
And it worries me.
I envision a situation where there could be a huge crash coming our way. What if Bitcoin keeps rising and then suddenly falls like bricks?
This could ruin everything on the market and that would put us in a bad place.
And then there’s the whole Bitcoin halving thing.
In the past, we have observed a dip in prices just before it happens, but what if this time is different?
What if we keep going up and then crash after the halving?
That will really put a spanner in the works.
The mistake I made last year was relying too much on past patterns. However, the crypto market is never constant and we can’t tell what might happen in the future based on what happened before.
It is like trying to predict tomorrow’s weather by reading old forecasts; sometimes it does work but at other times they get it all wrong.
I know this may seem rather pessimistic, however, these are things that should be considered.
We must be ready for whatever may occur in the market. And that means being updated, adhering to our strategies and not letting fear or FOMO drive us into our decisions.
So yeah, currently feeling pretty nervous about cryptocurrency markets. But I’m also looking out for openings and trying to remain calm and steady.
After all, in the crypto world there are always surprises and you don’t even expect what comes next.
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What Should We Do?
In complex times like these, we must not forget that volatility is a two-edged sword. It can give us massive gains, but it can also cause ruinous losses.
Therefore, it's important to have a sound strategy and stick to it even when you are overwhelmed by feelings. The euphoria of a bull market often makes people take panic decisions because they fear missing out on good investment opportunities which frequently end up being a disappointment.
Therefore, for some time now, I have been treading carefully in my investment decisions.
In this regard, I’ve been diversifying my investments while spreading risks across various assets so as to minimize the possible impact of an unexpected downturn.
Similarly, I’ve always had my ears and eyes open with respect to the current state of affairs in the sphere of trade and finance within which cryptocurrency thrives.
Knowledge is power in crypto world; therefore keeping ourselves informed on what happens around will enable us make better choices.
But possibly the most important thing I have been saying to myself is remain calm. Just as Rome was not built in a day, so too is an investment strategy for success.
To make long-term profits in the crypto market requires time, self-control and persistence. Consequently, even though the present situation may be making me jittery, I am focusing on the larger picture and believing in what will happen.
Finally, I also view it as a chance for my personal development.
By being aware of new information that might come up; adhering to my plan while at it; and biding my time, I trust that I can negotiate this foggy path and emerge triumphant on the other side.
This simply means that fortune favors courage only when one is prepared
I appreciate your time spent reading about my views. I look forward to seeing where cryptocurrencies and blockchain technology will take us!
Best,
The Leo Writer ✍️
Posted Using InLeo Alpha