Why do people find it difficult to make profits or buy during a market downturn?
I was thinking about why it is so hard to take profits when the market is good or buy when the market is low. Even after studying market trends extensively, there is always another bullish or bearish catalyst on the horizon.
Historical Perspectives
- 2017: Wait for the institutions to step in! You ain't seen nothing yet.
- 2021: This time is different. We might actually have a super cycle this time! Also, institutions are really stepping in this time.
- March 2024: Wait until it sells at least half! It is absolutely stupid to sell before that day!
Bearish sentiment in different cycles
- 2018 - 2022 - 2024:
- China's ban on cryptocurrencies and mining really ruined it this time.
- It was a bubble all along and it will never come back.
- Luna and FTX have truly created a hole in the industry that will never recover from.
- Stagnation on the way.
Neutral approach
Instead of being affected by these feelings, I take a neutral and humble approach.
- March 2024: I didn't expect now to be a good time to sell everything and buy back. I don't have a crystal ball like some other accounts claim.
- Strong Rise: We saw a strong rise for a short period, with some altcoins rising.
-5x here, 2-3x there, and even 10x+ on a few.
profit making
I took profits when I saw big gains, even if it was right before the drawdown.
- Right before landing? Ha, worst advice ever.
- Profit example: If you make another $10,000-$20,000 from one coin, take it. That's a lot, no matter what anyone says.
Ignore triggers
Ignore any upcoming triggers that might prevent you from buying or selling. The best buys often occur when the market is down due to events like FTX, China ban or rumors.
