According to Binance data, 45% of the crypto market in 2024 is made up of beginnersâalmost half the entire market. While this may sound exciting, it also raises a red flag. Why? Because this group is new to crypto and doesn't have the experience or the mindset to understand the complexities of the market. The result? A lot of frustration and misinformation thatâs fueling the confusion.
But thereâs more to it: most people talking about cryptoâespecially in places like Brazilâhavenât even lived through a Bull Market or made it through the highs of 2021. Theyâre still learning and yet, some are calling themselves experts and making decisions based on emotions, not data.
Here's the Problem:
When people post their frustrations online, it spreads like wildfireâleading others into a trap of panic. These are the same individuals who, when things don't go as expected, start posting negative or absurd advice. Ego takes over, and they forget what theyâve learned or fail to understand the long-term nature of crypto.
Letâs break this down:
1. "Price Discovery" is Key: I often say, âWe are in a price discovery phase, and no one knows where the top will be until itâs formed.â Yet, some still treat Bitcoin like itâs a failure, as if it's been stuck at $15k forever.
2. Altcoins Have Been Rocking: Think about Solana, XRP, BNB, and othersâhitting all-time highs (ATHs), but people still call them failures just because their favorite altcoin hasn't reached those levels yet. Market sectors ebb and flow, and not every coin will take off at the same time.
The Immediacy Mentality:
Many of the 45% who just joined want instant results, but let me tell youâcrypto doesn't work that way. If you think profits come in the blink of an eye, you're in for a tough ride. And if youâve been here since 2021 and still have that mindset? Well, then itâs time to reassess.
I made big profits in previous bull marketsânot by panicking, but by buying during the dips. I didnât follow the crowd; I outlasted them. The crowd is often wrong. So, when the market drops, remember: donât panic. Just hold on. It may hurt now, but you WILL win.
So, What Should You Do?
1. Educate Yourself: Iâm doing my best to answer as many questions as I can and guide everyone through these market movements. But remember, the market is unpredictable. No one can give you every answer. The key is learning and adapting.
2. Don't Follow Desperate Advice: If youâre following someone whoâs desperate, chances are theyâve never been through a real bull market. Theyâre likely leading you astray. The easiest way to tell? If theyâre telling you to SELL during a dipâtheyâre not the ones to follow.
Remember:
AN EAGLE DOESNâT FLY WITH PIGEONS. đŠ
Crypto isnât a sprint; itâs a marathon. The right moves require patience and perspective. If you're new, stop copying others and start learning. Follow those whoâve weathered the storm and have experience on their side. The market will always be there, but your mindset is what determines your success.
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