A Bull Cycle Doesn't Go Straight Up Like Some People Might Think
Crypto is definitely not for the weak as we see a perfect example in the above chart showing what COTI did in the last bull cycle. With over 18 corrections (dips) along the way highlighting nothing goes up in a straight line.
Just look at the size of these corrections on the way to achieving it's ATH on the 29th September 2021.
- -50%
- -78%
- -30%
- -35%
- -32%
- -71%
- -32%
- -32%
- -52%
- -44%
- -36%
- -64%
- -75%
- -61%
- -44%
- -38%
- -35%
- -37%
What stands out is the size of these dips 78%, 75% and 71% are the stand outs here and why altcoins are considered volatile and high risk. Those that either trade these dips or just simply hold along the way and see through all the negativity that is created of which there will be plenty will eventually ultimately succeed.
This is a gentle reminder of what we are now facing over the coming 18 months and there will be testing times mentally. This is the fun part because we have all seen this play out before and those in the know should be looking o take advantage wherever you can. The dips should be welcomed as we all know panic in the streets leads to lower buy in opportunities or in COTI's case liquidations which ultimately boost your overall earning potential through a higher APR.
It is easy to understand why so many fail in crypto because if you do not know what is coming it is a minefield wrecking dreams and aspirations of riches. This is why they say only invest what you can afford to lose because anyone who is desperate will ultimately lose looking a the size of these corrections. One can imagine "losing" over 70% of an investment that you cannot afford to lose and through sheer fear sell out instead of riding the wave.
Maybe deep down we are all masochists because through the pain and suffering of others we benefit because the big difference being we have paid attention to what the market does and they have not. Crypto is actually very simple and the proof is the simpletons who have already made their fortunes in the previous cycles. These are not individuals who are any different to you and I and are not special in any way except they paid attention to how the market works.
Everyone has the same opportunity as the next person with a level playing field and it is how we behave during this period that will define our successes or failures. Paying attention to details with no knee jerk reactions is what we should all be thinking and doing. Sticking to the plan and not deviating is the answer because anything else will be disastrous.
I see each major correction as one we should be celebrating because if you play your cards right you should be accumulating a little more each time. Personally I hope COTI does something similar this time around because the small chunks you accumulate each time is what makes the difference when it is time to sell. Don't forget profits are made when you buy and the cheaper you buy the more profit you make when you sell.
Posted Using InLeo Alpha