Dedication In Both Bull & Bear Market

Dedication In Both Bull & Bear Market

By Sapphire | Sapphire Crypto | 12 Jan 2021


Crypto Is More Than An Investment

I always find bull markets so amusing, in that people that had little to no interest in Crypto a few years ago are now falling over each other in order to buy Bitcoin. Prepared to pay $40K for Bitcoin, when they could have paid 3K or 4K not so long ago. This is not how an investor operates and only serves to prove why so many new investors manage to lose their shirts in a bull market.

It sounds impossible but there are many cases where investors have walked away from a Bitcoin investment in tatters simply because they didn't understand the cycles, as well as the dynamics involved in investing. Thanks to the halving, bull and bear cycles are very predictable and when the price retraces to bearish lows, accumulation should be on the agenda of every serious BTC investor. Inexperienced investors now want to squeeze in years of dollar cost averaging into a couple of weeks and walk away with bags of profit.

Investing in the Crypto space is something that requires discipline, time and knowledge. You need to understand the space, the risks, the volatility, the cycles, as well as the constant advancement and development. There are no short cuts and if you are not going to go this road, then the best you can do is to set up a dollar cost averaging schedule and hope for the best.

The Dedication Should Remain Constant

Many people lose interest in a bear market and so become idle. They are unable to see the opportunities that surround them, including the opportunity to build for the next cycle.

In very much the same way, people become lazy in a bull market because they feel as if they have waited long enough. They think that they can sit back and let the price action do all the work. As with any endeavor, commitment is the secret sauce to success.

If you are a newbie reading this article, then prepare yourself for a journey and do your best to familiarize yourself with the "country" you are now in. Understanding the cycles and price action will go a long way to helping you stay the course and hopefully see some good results in time.

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It is important to note that an investing approach is very different to a trading approach. When you come across information, ensure that you are aware of which dynamic is being discussed. For instance I never sold my BTC in this recent dump but I did close my long trades.

I require more certainty and confirmations for trading, especially since I trade with leverage most of the time.

There are a lot of people that take this space very seriously and that is why they excel. With the right approach, so can others. All the best! 

 

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100% Passive BTC


Sapphire
Sapphire

Interesting views, news, opinions and all things Crypto. Independent and honest assessments of Crypto projects and earning opportunities within the space. Opinions are my own and not financial advice.


Sapphire Crypto
Sapphire Crypto

Interesting views, news, opinions and all things Crypto. Independent and honest assessments of Crypto projects and earning opportunities within the space. Opinions are my own and not financial advice.

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