What you need to know before you start a bull race:
Looking at the past two cycles, the uptrend always starts in the fourth quarter. If this cycle repeats, there will be serious chaos in the market. Here are the facts I learned from the previous bull run that no one is afraid to express. I am not hiding anything! Let's get started! đ
1ïžâŁ Don't get caught up in the 100x dream!
Most altcoins fail to reach these levels even during a bull run. If you keep all your money and expect to make big profits, your holdings may melt and you may miss out on big opportunities.
2ïžâŁ Don't swear allegiance to projects!
The project's marketing team is working to keep you around, like a cult. Don't fall into this trap. You owe no obligation to the projects, if you've made a profit, quit!
3ïžâŁ Take profits on the rise!
At 2x I get partial profit. A little more at 5x, more at 10x. I call this the "slow bleeding" strategy. The truth is that fiat is better than 99.9% of cryptocurrencies right now... right now.
4ïžâŁ Beware of manipulation traps!
Venture capitalists will spend millions to convince you that the uptrend will last forever. But if you get carried away with the enthusiasm, your logic will spin out of control. Surround yourself with smart people and donât forget to make profits!
5ïžâŁ Get an investment portfolio management app!
This isnât an ad. But definitely get one! Managing your assets can be tough during a chaotic bull run. I forgot $30k in my purse last time⊠An app that lets you see all your assets on one screen could save lives.
6ïžâŁ Don't fall for crazy APYs!
Promises of long-term lockout are deceptive. If you get locked out for more than 12 months, you are being scammed. Don't be fooled by crazy APYs, they only benefit the project.
7ïžâŁ Beware of quick cloning projects!
Some cryptocurrency teams quickly produce clones when they see a popular coin. They create hype, attract you, and then pull the rug out from under you. The only way to make money from clone projects is to buy and sell quickly, but the risk is very high!
8ïžâŁ Trust your gut!
I didn't listen to my gut and lost a lot of money in the last round. But I eventually learned: When you feel something is wrong, get out! Leaving UST before LUNA collapsed helped me a lot.