We have seen our fare share of ups and downs over the past few years.
Alot of this volatility is the result of traders with no care in the world about the projects that they are trading. With this statement comes more, it is obvious that there are entities that will purposely cause hype with intentions to move certain markets in or out of their favor. The investor sentiment is no doubt unpredictable, however there are ways to beat these uninformed entities for our benefit.
Some of these big market players that claim to be professionals such as companies that specialize in market analysis or financial newsletters even Coinbase, Coindesk, Binance and many others aren't what they claim or what some of us perceive them to be. Furthermore, these "professionals" are making their projections or recommendations based off of traditional financial tools. One thing we should understand is that blockchain, Defi and decentralization are anything but traditional.
These "professionals" institutional investors and the large majority of traders are as clueless as can be, yet we look to them for answers . I remember when Chase bank and many other fine institutions attacked the very projects they claim to be professionals at.
There is obviously no reason to stay on a sinking ship and unfortunately there will be many projects that fail causing some to lose alot and others to win. Which one will you be?
A technical analysis is only a small portion of the larger picture. Having a basic understanding of the technology is, and I say it with every fiber of my being is paramount to being able to make the right choice. Basic is all we need and if it floats our boat then go all in. See, chasing "the next big thing" lacks security and confidence. Ultimately making decisions on hype "the next big thing" could be the next big disaster. Uninformed decisions on hyped up projects is inviting chaos at a time we damn sure dont need it. A plan and a little bit of research can change your life forever. There are many taking advantage of the fact that alot of us know very little about this new technology.
When it comes to "the next big thing" we should be asking ourselves why? Will this "thing" bring security, privacy, utility and ease of use to my life and to the world? Is there a real use case for this project and if so is it at-scale and decentralized? We have been told/taught for a long time what is of value or what money is by backwards thinking institutions making financial decisions for us. The technology is right in front of our faces. This is a journey that can be fun and successful. A few minutes a day taking the time to understand the things that will ultimately be our future can mean the difference between generational wealth or living pay check to pay check.
Right now, you can decide. Some of these professionals are only professional at causing fear, uncertainty and doubt. Remember, blockchain and Defi are new technologies. So, if anyone is a professional, it's you.