Ayo was one of those who found out that following the hype never ends well.
He had notifications turned on for some of the biggest influencers in the crypto space. All through the last bull run, he did quite well by just following what they said.
But reality soon set in when the bear market started. From one loss to the other, Ayo was almost rekt.
By September of 2022, he had just $300 left to his name, from a portfolio high of $4,700 in 2021.
While following what influencers said sometimes do turn out well, it doesn't always end well. It's so easy to identify a coin that will do well during a bull run. In bear markets, it's much harder.
What can you do?
Invest in yourself. Try to understand basic fundamentals of crypto and make decisions based on what you have learned
Practice risk management. No matter how confident you are in your analysis, you might be wrong. This is why using stop losses is important. And if you trade on DEXES, know when to cut a loss
Finally, know when to take profit. Profit is profit, and you don't have to wait until a specific target before realising what you see as profit.
Whatever you do, empower yourself to be the best you can be. And by the next bear market, your story will be different from that of Ayo
