Bulls Charging Again!
Here are a few personal tips on how to get through the Bull Run without stress and come out with good earnings and full pockets of money!
Non-Medium members read the full post here.
Finally, the day has arrived! Bulls are charging again, surging ahead with full force, and most of the market is in the green. Bitcoin prices are going wild, not just day by day, but from hour to hour, breaking new barriers and heights. Ordinary folks cheer for every dollar earned and frequently check our portfolios.
The Bitcoin locomotive is pulling for sure, and the ALTcoin wagons are slowly following. The everyday worries that haunted us during the long and tough Crypto Winter over the past two years are now fading away. Instead, new worries arise; although they’re worries, they’re sweet, and every investor wishes for them. It’s about the concern of when and at what price to sell your cryptocurrencies, how to achieve the greatest profit, and in which Altcoins to invest when Bitcoin and other cryptocurrencies in which we invested reach their ATH (All-Time High).
Sweet concerns about whether to sell now or wait a bit and then sell at a higher price have replaced worries about losses in the Bear market. Finally, there’s no need to fear and be in constant fear of losses.
Besides these concerns, there’s, of course, the FOMO (Fear Of Missing Out) that arises among many investors, compelling people to invest in anything at any price just because of the aforementioned fear of missing an investment opportunity. Though FOMO is good for the market, injecting significant doses of fresh fiat money into crypto exchanges, it’s not beneficial for those suffering from it. Often, in these moments of quick investments without prior research, investors make wrong decisions that later cost them hard-earned money and nerves.
How to keep a cool head and composure in such moments is the question of all questions, and it’s not easy to provide an answer.
However, I’ll try my methods and examples to help you, dear readers, to make decisions that are good for you and your finances.
I must emphasize that these methods are my personal standpoint and they work for me. They may not be suitable for everyone, so you need to determine whether they are right for you and if this article has been helpful to you.
Investing in the Bull market
Firstly, here, we should define whether it’s a real Bull market or just slight fluctuations in the market and whether the right time has finally come.
If we’ve given ourselves a positive answer to the previous question, we then come to the next question: is it really the right time to invest and engage in FOMO? The answer to this is neither easy nor straightforward because the best time to invest is, of course, during the Bear market when prices are at their lowest. But very few decide on any significant investments unless there are at least indications that things will improve, and the cryptocurrency prices will rise.
Very few people have self-control over their investments and buy cryptocurrencies when prices are drastically falling and their values are plummeting by 50%, 70%, or 90%. Most people start their investments when the market is rising.
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So, my advice would naturally be to buy during the Bear market when prices are lowest. However, if you cannot do that for any reason known only to you, then buy in the Bull market, but with a calm mind.
How to achieve this and how to keep a calm mind when cryptocurrency prices are surging around you, and every corner of the internet just screams “Buy, buy, don’t miss the opportunity”?
Try a simple logical analysis of the cryptocurrency you intend to buy. Look at what happened to it in the past, how it behaved in the previous Bull market, how its price moved then, and how it’s moving now. Often, the past can teach us what will happen in the future.
Look at how much the cryptocurrency has grown during the current Bull market and how much it could still grow to at least reach or slightly surpass its ATH. If it has already grown and exceeded its ATH or grown 2X, 3X, or 5X, there’s a very small chance that you will make serious money on it. Not to mention if it has grown 10X or 20X.
Don’t believe every fool shouting “To the moon” or 100x or 200X because such things mostly don’t happen and are equal to winning the lottery.
Carefully choose cryptocurrencies based on research, reading, and analysis, not based on rumors and stupid statements bordering on madness. If a cryptocurrency has grown by more than 50%, there’s a small chance you’ll profit from it. Although such things happen, they are very, very rare, so don’t be a fool thinking, “Oh, this will happen to me.”
Play it safe and invest in cryptocurrencies that promise at least 2X profit because it’s better to have a bird in hand than two in the bush, as the saying goes.
Knowing when to stop is a great power
As the subtitle itself says, knowing when to stop and when to have enough gains is enormous power. What exactly does that mean? Let’s say your cryptocurrency has grown 5X and surpassed its ATH twice; then cash out or, even better, decide in advance how much profit is enough for you.
Firmly stick to that, set withdrawal orders on your exchanges, and don’t deviate from that by a millimeter because in the crypto world, what was up by 5X today can be down by 10X tomorrow, and you can lose all your hard-earned money, and regret it for the rest of your life. Don’t let greed lure you into the abyss. Sometimes it’s better to earn a little, but safely than to lose everything. A firm stance and a good trait are worth a lot in the crypto world.
A Good Portfolio is Half the Battle!
As I already mentioned in one of my previous articles, a good choice of cryptocurrencies and a good portfolio are essential during the Bull market.
If you prepare on time and sense the market moving positively, that should be enough to earn decent money from your portfolio.
What’s important in a portfolio is that once you make a choice, it would be great to stick to it till the end. If you start to shuffle, buying and selling randomly during the Bull market, you won’t fare well. Again, with a portfolio, it’s about good timing. If you sell any cryptocurrency during the Bull market on time, you’ll always be in profit. When the market is in a Bull, all cryptocurrencies rise; the only difference is how much.
Some will rise by 2X, and some by 50X, but all, absolutely all, will be in the positive and bring profit.
Of course, it would be better if all your cryptocurrency portfolios brought 50X profit, but sometimes you need to be satisfied with less and know when it’s time to exit, take your profits while you’re still in good profit, and quit in time. I’ll emphasize once again that crypto is very unpredictable, and what was great today can completely lose its value tomorrow.
Don’t lose hope and keep your goal in sight
A very important thing to keep in mind is that cryptocurrency values drop even during the Bull market, but these moments are rare and short-lived. We can comfortably call them market hiccups. During these short-lived hiccups, don’t lose your goal and start changing withdrawal orders, or worse, panic-sell your cryptocurrency and then buy it again as soon as the market turns green, as you’ll go crazy and lose secure money.
Remain calm and composed till the end, and have faith in your decisions. Of course, this doesn’t mean you should let your cryptocurrency drop by 95%, hoping it’s just a slight hiccup. When you see that things are going south and quite badly, cash out while you’re still in profit, but don’t interpret every short-term drop in value as a catastrophe.
Let every decision you make be considered and well-researched. If you don’t have confidence in yourself, seek help from experts — people with significant experience in the crypto market who have been through several Bulls.
In the crypto world, besides scammers and thieves, there are also good people willing to help with advice, as anywhere else.
Well, dear readers, we’ve reached the end of my article, and I sincerely hope that these tips will help at least some of you. I wish you all outstanding earnings and lots and lots of money!
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Greetings and until my next article!
Neo77