Hey, if you're just getting started with crypto, listen up!
The upcoming $BTC Bitcoin halving is around the corner, and experts are talking about a potential surge in late 2025, about 12-18 months after this year's halving event.
But here's the scoop: Many folks might make some missteps.
Let's simplify it:
PHASE 1 - Accumulating:
Big players and experienced folks buy when prices are low. New projects pop up, but skepticism lingers. Think back to last year when Bitcoin was at $15,000 and uncertainty was high.
PHASE 2 - Building Momentum:
Prices go up, dip a bit, then rise again. Excitement grows, long-term holders feel good, and the FOMO (Fear of Missing Out) kicks in. Other cryptocurrencies start performing well too.
PHASE 3 - Over-Enthusiasm:
Greed sets in, prices skyrocket daily, everyone's buzzing about it, strange market behavior becomes common, and scams become more prevalent. Keep an eye on indicators like the Bitcoin Fear and Greed Index – if it's at 90, it might be a sign of trouble ahead. Stay sharp, or you might get caught off guard when the market takes a dive.
PHASE 4 - Major Downturn:
Prices take a nosedive, panic spreads, negative news floods the media, both big players and newcomers sell off, while seasoned investors seize the opportunity to buy low. Newcomers could end up stuck with worthless coins for a long time – don't fall into that trap!
Stay cautious and vigilant out there!