What is a Bull Market
Simply put, it is when the overall trend is going up rapidly. As a result, the volatility is certainly high. Normally, altcoins fluctuate around 10%, but now that the bull market has arrived, fluctuations of 15%-20% are quite normal.
Currently, altcoins have broken through support levels and have started to enter an unregulated area. High market cap coins might correct by about 75%, while low market cap coins could potentially return to their starting points. But don’t be quick to think the bull market is over just because there’s a drop; that could lead to significant losses. Remember, in a bull market, going long, even if you're stuck, still offers opportunities to get out; but if you go short and get stuck, you might be waiting for liquidation.
If you have long positions, don’t rush to cut losses; if you sell and it goes back up later, you’ll regret it. You might try taking some small short positions to hedge and reduce your exposure, ensuring you can survive. Wait for clear signs of a strong reversal before adding to your positions to lower your average cost. This way, you’ll be ready for the cryptocurrency frenzy after Trump takes office next year.
If you don’t have long positions or haven’t made money recently, don’t rush. Patiently wait for reversal signals; when that time comes to buy, you’ll be entering at the “golden pit” of the bull market, which is a great position. Never rush to buy just because of a big drop; the bull market rewards those who are patient.