Are you still feeling bullish?

By belemo | belemo | 20 Jun 2021

Hello kind ser, how are you doing? I hope you're doing fine both physically and mentally. For your sanity, please don't check the charts because you might just burst into tears.

For my own sanity, I've pulled everything out of the market and I'm in the process of making a sweet purchase with my profit. If you recall, I spent a sizable amount on my wedding expenses and now that's settled, I have to make arrangements for the family life.

The market was trying so hard to put a dent in my plans but I said fuck that and pulled out. For what it's worth, regardless of the situation, I am still very much in the green and it will take a monumental crash for me to fall into the red zone. However, the funds that I kept aside for this plan were losing value and that didn't sit well with my plans.

I'm a stickler for planning because, without it, I'm pretty much a farm animal. I always have plans, contingency plans, and failsafe plans for the contingency plan. At this point, I just hit the failsafe button because things aren't looking as bullish as I thought they were.

For starters, yes I'm still in it for the long-term, and no I'm not panicking. However, the decision to sell off what I held in exchanges was due to an immediate need that necessitated keeping the coins and tokens on Binance.

After selling it off, I converted it to Naira and I'm now in the process of completing the deal. A friend once told me to "trade the market, not he feeling" and that's something that has stuck with me since. It is the basis of my decision to cash out profit and put into improving my life.

Is the bull market over?

The speculation machine keeps spinning and numerous punters share their views about the market. Loomdart and others speculate that the Bitcoin sell pressure will reduce by July, another bull thinks $85k Bitcoin is a reality in coming months and many other stories pointing at a bullish future for the market.

There are also speculators on the other side of the fence who feel that the "time of plenty" is over and we'll be trading sideways-downwards for another couple of years. Everybody has their case and as an investor, it is best to consider two sides of the story to ensure you have a well-informed view.

The question I often ask myself is, does it really matter? As an investor with the ambition to participate and accumulate as many assets as possible for many years to come, do minor variations in price actually matter? In @lordneroo's publication that highlighted the long-term nature of the crypto market, it was evident to see that all the FUD is a bit over the top.

There's still so much to come in this relatively young industry that has grown rather rapidly. In my opinion, I think the crypto market is a victim of its own success and every height it attains increases the weight of expectation. Time will tell.