Halving Cycles and Crypto Confidence: Why I'm Still Bullish
When you realize that you don't know, that your favorite TA guru (who might be right once in a while) might be wrong at some point or "too sure" on "that rally," that nothing goes in a straight line forever or crawls in a limb forever, you know you will make it in crypto.
Being a bull during the current stage of the crypto market is not quite a fun ride. The bears are not yet fully hibernated, bulls are not numerous at this stage, but the bull market is on. At least that's what I think...
I've been in crypto since late 2017, and I've learned a few lessons about this space. I have made little money in comparison to the chances that I had in my hand but unconsciously blew, but I learned important lessons by taking those chances, and somehow I don't regret anything in crypto.
At some point, I would have stepped wrong anyway, so it's better to do that sooner than later.
Many are comparing the current bull market with the one of 2019-2021, but from what I see on the charts and knowing that rarely does history repeat identically, I will say that "this time is different," and no, it is not different in the way that BTC reaches $500,000 or a million.
I know that Michael Saylor announced a couple of days ago that MicroStrategy is buying $750 million worth of BTC, if it hasn't already, that there are lines of spot ETFs waiting for approval in America, BlackRocks included, but that does not mean there won't be an insane selling pressure accompanied by a weak demand pushing the market into a bear market once again.
You know what's the problem with the majority of the crypto market participants? They just want everything to go to the moon overnight… Not understanding that “Time in this market remains key” and that it takes a whole lot of perseverance to win here. I mean a whole lot!
Ranging times that occur after a decent rally is when the majority gets disappointed and leaves. Believe it or not but most of my friends right now are not holding any coin, and some of them are in this for longer than I. They should be salted, right? Well, yes, but looks they aren't.
As I mentioned for quite a few times on my blog already I believe the parabolic runs that we had so far in crypto always coincide with the halving. For as long as we will have halvings we will for sure have price BTC price appreciation. On the long run the aggressiveness of that growth might be tamed down, but overall I'm bullish on the halving cycles.
I don't have any guarantee that the market won't test any resistances that it turned into support for the past few good months, but who does? Investing is a game of probabilities not a game of certainties.
SHIB is having a mini-rally right now, in the middle of a full-blown correction for the rest of the market and I bet your favorite crypto analyst didn't expect that... Neither was I and I'm no crypto technical analyst.
All I know is that the current sentiment in crypto is familiar to me, I've been through this in the past, I know what I did wrong back then, I know what I am supposed to do right now, and although it's hard to be a bull in crypto right now, I remain one. What about you?
Thanks for your attention,
Adrian
Posted Using LeoFinance Alpha
I think at the moment, the market is doing what the market does and to be very honest we still need to see the halving before any rally begins. Like you've said, it cannot happen overnight. Only people who know the game are holding, noobs are just in fior the thrill of the bull market.
Noobs will always be on the wrong side of the market.
Hahaha so true.. wonder when they'll eventually leave noob-hood
When they will be ready. As we did...
https://leofinance.io/threads/acesontop/re-leothreads-gb37ll97
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Great post @acesontop.
Well, from my own understanding about the crypto market, i think we should also consider the true intensions of others.
Assuming we currently have 100million people all over the world, there is a probability of 10million people willing to hold what they have for a long run.
Having a main job that provides enough income outside crypto trading is n't a big deal, some people don't just have what it takes(patience) to hold a coin. They believe the only way to survive in the crypto space is to take every given opportunity inorder not to miss out.
But it seems people like you, me and others still have our own way of working with what we have, by holding onto it, no matter the bearish or bullish situation.
There are plenty of cases of investors who have a good monthly income and they still exit the market at the wrong time. Emotions drive the markets not fundamentals.
Exactly🙌.
I remain too.
I am a bull.
Flying Bull.
Toruk
Wouldn't have thought of you the other way...