As I finished with my Saturday morning coffee and sparkling water routine, I thought about several things that I think should be always in our minds whenever we think about crypto and the difference between bear and bull markets.
As we are in a bear market - albeit one with a significant turn of fortunes lately - again, some narratives have started to appear that do not bode well for our future.
I wanted to share my thoughts about some of them:
New narratives will convince you to believe that there is no end to a price increase, forcing you to hold and never sell. This is very wrong. Always prioritize taking some profits, for holding just for the sake of holding does not get us anywhere. Holding while taking profits - now that is an entirely different game altogether.
Another narrative is the current Twitter trend of some crypto influencers who are shilling shit coins with the potential prospect of them going 100x - 1000x in the next bull run. Newsflash: 1000x/100x are illusions.
They might happen, but it's a lottery ticket approach and you'll also need to hold through the entire PA increase. Chances of that happening? Minimal to say the least.
Have in mind that when the bull run will come again, new “gurus” with unrealistic predictions will sprout like mushrooms and share their opinions based on the hype of the bull run itself.
How to protect yourself? Easy, with two principles to hold on to:
Rationality is your best friend.
Don't be afraid to be skeptical.
Enjoy your Saturday afternoon lovely people 💋