Brothers, good afternoon! FOMO is fiercer than a tiger; maintaining the right mindset is most important in a bull market. Although it seems full of opportunities, it is actually more dangerous than a bear market.
November 27 cryptocurrency: Did it crash again today? BTC, ETH, SOL, XRP all dropped, and Meme is sluggish.
However, in my view, this round of significant pullback is actually just to accumulate power at a low point, so that the next wave of the bull market can be better initiated to achieve even higher historical highs; the overall trend has not changed, and the current situation is just a normal pullback.
The market has now reached a relatively low position; everyone should seize the opportunity! Those who should enter should do so boldly, without fear!
How to earn more and lose less in a bull market? Just avoid stepping into traps.
Here are a few major pitfalls in a bull market and the psychological traps behind them:
1. Impatient, frequently changing positions based on short-term market fluctuations.
The most fatal point of frequently changing positions is that after the switch, the assets that were replaced take off, and if it happens a second time, it becomes even more deadly.
2. Buying high and selling low.
The correct way to chase up requires the right timing, location, and people: 1. Add positions at the moment of volume expansion at the starting point, 2. After the launch, pull back to key positions, 3. When the first wave runs out and the second wave is underway, these are all good choices.
Instead of panic buying when the token price has already risen sharply and indicators are severely overbought, which can easily lead to buying high during price increases and panic selling when prices drop slightly.
3. Relying too much on a single asset.
In the crypto world, only BTC does not let anyone down; the only option is the big cake!
4. Increase leverage on contracts.
Keep adding positions as it keeps falling, and when it finally becomes unbearable, cut losses; unexpectedly, right after cutting losses, it rebounds immediately. Due to unwillingness, one doubles down on leverage... only to find it's not a reversal, but a dead cat bounce, and after a night's sleep, one is liquidated. Fatal!
5. Going all in at the halfway point.
Thinking oneself clever by not buying BTC without a pullback, waiting to add leverage during a pullback, thinking that when BTC rises back it means capturing half of the entire upward movement, but it drops again! Believing that one can endure, repeating the cycle endlessly.
Analysis of the main reasons for stepping into these traps:
In a bull market, we are easily deceived by short-term market performance, creating an illusion that all assets will continue to rise, leading to impulsive and shortsighted investment strategies.
Market hotspots and rapid wealth effects make it difficult for investors to remain rational, often ignoring the unpredictability of the market and the basic principles of long-term investment. Large emotional fluctuations, lack of patience, and insufficient comprehensive risk assessment and management are the main psychological backgrounds for these mistakes.
In summary, while a bull market seems to present unlimited opportunities, it actually tests the investor's mindset and strategy. Staying calm, adhering to a long-term investment philosophy, diversifying investments reasonably, using leverage moderately, and being cautious about market 'bottom' judgments are the sustainable paths to successful investing.
Assets that can be bought in the future:
BTC: The US plans to treat Bitcoin as a strategic reserve, with a large influx of funds imminent. At least allocate 20%-25%.
UNI: The public chain will be launched later this year, and node operators must stake UNI, which will be used as gas for the public chain.
BNB: Binance will continue to offer positive news for new listings, and the entire Binance is working for BNB.
STX: Mainnet upgrade completed, long-term target of $3.
CHR: Long-term target of $1, various ecosystems are under development, focusing on game public chains, benchmarking against IMX.
FTM: The project's strength is strong, the target of $1.1 has been reached, you can sell 20% first, and the next target is $1.3.
DODO: Decentralized trading platform, about to launch a public chain.
DOT: Upgrading to 2.0, with speculative expectations, a separate public chain will be launched next year. Targeting $11.
Layout of 3 potential coins with future values exceeding 100 times!
1.ALGO
ALGO price has risen by 15%, with the current trading price at $0.299. The lowest price in the past 24 hours was $0.2515, and the highest price was $0.3089, indicating a relatively positive market sentiment and strong momentum.
2.FTM
It has risen by 14%, and the current trading price is $1.09. The lowest price in the last 24 hours was $0.92, and the highest price reached $1.13, showing very good performance over the past day.
3.SAND
The Gaming sector has increased by 25.4%, with projects like SAND performing well. SAND soared 100% in two days, and the old public chains have collectively awakened.
SAND (over 100% increase in the past two days), this old metaverse concept coin has seen an astonishing rise recently.
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