On average, new projects listed on Binance in 2024 follow a pattern similar to this $ETHFI !
The price has dropped by more than 85%, meaning the bottom is 6-8 times lower than the top, and just one more split in half is a full 10 times decrease. 😫
🤔This decrease is of course not like an adjustment in an uptrend, because it does not follow any Fibonacci or Elliot wave levels. And it also decreases much more strongly than the uptrend money-shedding period in previous cycles.
👉👉It is understandable that small investors are panicking, because there are no past examples for them to look at and maintain their faith in the market, let alone return to shore or make a profit.
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I do not have any advice that can be applied to everyone, because each person has a different position and way of using capital.
My point of view is summarized in the following lines:
👉Cutting losses now is definitely cutting the bottom.
👉If you no longer believe in the crypto market, just leave. BUT don't fomo back when everyone talks about it next year.
👉As long as Bitcoin continues to grow, there will definitely be an altcoin season. Because the most effective way to MM to get BTC from the crowd is to pump the ALT/BTC exchange rate up really high.
👉Don't expect to be able to earn income every day by trading coins, focus on your main job out there and take money to embrace projects you like in the long term.
