As in every field, the most valuable thing in cryptocurrencies is experience, and this can cost you dearly. Therefore, it may be the most logical way to create your own strategies appropriate to the current situation by taking a look at the advice of experts who have experienced past cycles. Chris Burniske today and the past crypto bull Let’s take a look at their experiences. Now cryptocurrency advice Let’s take a look.
Cryptocurrency Bull Markets
I was into cryptocurrencies in 2017 and 2021. Each cycle allows you to learn new things, and some experiences are extremely costly. If with cryptocurrencies If you met after 2021, you have been experiencing your first bull market experience for a few months. There are important details you should pay attention to here.
If things go as expected, in the first two quarters of next year, you will probably experience days when you will feel like an investment guru and earn good profits and see yourself as a genius. But this won’t last long, and the longer it takes you to be convinced that it won’t last, the bigger the losses you’ll suffer.
In his evaluation a few hours ago, Chris Burniske shared the graph below and wrote:
“People won’t like me to say this, but if $10 trillion is the round target (for the total value of cryptocurrencies), we will probably fall short of that this cycle.
It was a good rallying cry from the bottom of the capitulation and will prove directionally correct in this cycle, but will be surpassed over time. However, as we enter a period of frenzy where dreams grow bigger and bigger and bull market geniuses abound, it’s important to be realistic.
For example, in 2021 BTC And ETH Calls for $100k and $10k were everywhere and at the time we capped at ~$70k and ~$5k respectively, BTC is only now reaching that goal (years later) – learn from here.
Also, if you are buying at <$1T from a $10T perspective, it would be reasonable for you to take profits on tranches from $3T to ~$10T. No one has ever lost money by taking profits, the forgone gains you make while rising are just psychological pain. Keep some money forever, by all means, but profit from the follies and live your life. Time Bitcoin $102,673.0It is even more valuable than .
Never aim for perfection, or you will always miss.”
Advice for Those Waiting for the Bull
Especially if you are in your first cycle and have made a purchase after extensive research, you need to determine the price at which you will sell your asset. Maybe you should set two goals, convert your costs and some profits into cash in the first goal, and keep the remaining part to cash out at higher levels. But in 2022, 2023 and 2024 (in the boring 3-year parts of the previous 4-year cycles) people had a lot of regret for not selling at the right time.
Know that it is impossible to buy at the bottom and sell at the top. You will not be able to make a profit sale at the right time. The price will either rise further, or after falling a little, it will start to rise and you will think you have made a mistake.
Finally, investment recommendations and charts on social media should only give you the opportunity to look at the relevant cryptocurrency from different windows. You should not copy anyone’s strategy exactly. This way, you will suffer less when you get hurt.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
