One question every crypto enthusiast needs to ask himself…
The crypto market is in full panic mode, yet everyone is looking/asking the wrong questions…Find out the one and only question that needs an answer.
For the past couple of days, we’ve been witnessing the dump of Bitcoin and pretty much all the cryptocurrencies in the market. The streets are covered in blood, many lost 85%+ of their investments, Bitcoin is crashing through support levels as never before. TA gurus and pros are constantly charting support and resistance, predictions are coming from everywhere(left, right and center), everyone has his own opinion. People are going mad. People ask questions. But they are asking the wrong questions…
Everyone wants to know what’s going on and when it will be (will it be) finally over?
We’ve been silently watching the market and witnessing all of the above and we think it’s time to express our opinion and try to shift the crypto market paradigm.
In our opinion, most of the general public and crypto enthusiast are asking wrong questions, which makes them panic and take stupid/emotional actions. The following short overview will NOT discuss prices, but general beliefs…
First of all, everyone having crypto at the moment should figure out what’s are his/her end goals. Some people are traders, others are investors, some like to make daily trades, other like to invest in the long term. But pretty much everyone has some beliefs and end goals, which direct the decisions he/she makes within the crypto market.
(P.S. If you have no goals, plans or believes, that’s not your realm, so just find something else to do…)
Two main groups of crypto enthusiasts
If you are here for the trading and making profits, it’s not a good idea to trade now. In the past few days, people have lost millions trying to catch the falling knife called crypto (in the current environment), or calling out the bottom in a desperate attempt to go long on the “bounce up”. With the current volatility, trading in crypto assets is more like gambling. The truth is, no one knows where the bottom is and nobody can predict when will be the next actual real bounce (at least in the short term). Face it, deal with it, and move on.
On the other hand, we have the good old HODLers. The blindfolded enthusiasts who are here for the “technology” and future “adoption”, yet shaking on the current prices. Constantly calculating how much profits they would have had if they actually sold their coins earlier. They are questioning when will be the next bull run, what will be the fundamental news and when to expect the big catalyst event that will trigger it. They are calling the guys with the charts, the “chads with the MEME lanes”. These people are now wrecked as never before. Seriously, the crypto HODLing meme was last year, not today.
Stop bullshitting yourselves into believing that the market will recover in the next couple of months and you will get your initial investment. Reality is that if you haven’t been able to put good entry and exit targets for your investments, you’ve done it wrong and you lost money. Stop believing that you are not on loss until you sell because the fact is that some of the shitcoins you have will never recover. The only thing you can do now is to try to make an adequate assessment of your investment. Make plausible and realistic assumptions for the assets in your portfolio, dump the shitcoins and start over. This time learn a bit about market prices, targets, entry and exit levels etc. TA is here to help you make a better decision even if it’s not always accurate.
No matter which type of crypto category you fall in, the question you should be really asking yourself should be: Is crypto actually here to stay?
Crypto has been around for more than 10 years and it’s already been through everything. There were hacks, sell-offs, scams, whale wars, forks, dumping, pumping, pretty much everything you can ask for in a newly created and young market. We’ve witnessed bull runs and bear runs, but all in all the crypto market is still here, even after 10 years.
Why would someone possibly think:
1.The bear market will not end? The crypto bubble has burst and there is no return?
or the other side of the coin,
2.The bull run is coming from the beginning of 2019 because we saw the bottom? The bull run will be as never before and we are going to finally make it to 100k?
Our answer on the first point is that every single market is moving in cycles and there is always a return to or near something similar. As much as you want it to be, crypto is not a bubble that suddenly burst and will never be used again. Its just the opposite, the technology is gradually adopting and the market is growing, governments will sooner or later try to emphasize this unique technology and make use of it.
Meanwhile, some of the more over-excited people are really believing that the bull run is coming really soon. For us, they are just as ridiculous as the one that does not believe in the future of crypto at all. How can anyone predict when to expect the next bull run or how much it will reach, when we haven’t seen the bottom yet? Every cycle finishes off with an enigma point, which creates a new trend line, which in turn might (not everytime) show us future predictions. Adequately looking at the current crypto market conditions, we can’t say or predict anything. All we can say is that the bear market is still in play and it might be in play for a long time. Just keep it real and crypto and chill a bit, don’t over-react or make stupid assumptions or you will get burned.
All in all, everyone should have his mind and stance on the future of the crypto universe and whether it is here to stay or here to be put to rest. Once you answer this question, you can either stay in the market and watch what will happen with the crypto or just GTFO, never to return.