With bitcoin and virtually all altcoin assets soaring, the blockchain has become an incredibly easy market to “predict.” Print out a list of available cryptocurrency assets, then simply throw a dart at it. Whatever altcoin the dart lands on would very likely have a high-probability success rate.
There’s nothing wrong with calling individual names in a robust bull market – I do it all the time in my profession. But the cryptocurrency markets are a little different. Currently, the amount of bullishness towards the blockchain is unprecedented. Like I said, random guesses will likely win big.
Understanding this dynamic, several charlatans have voiced their forecasts knowing full well that the blockchain -uneducated masses will likely consider them as “God’s gift to the cryptocurrency markets.” But these folks are merely conflating the extreme bullishness in the blockchain for a technical analyst’s supposed accuracy.
Mark my words – a day will come when a bearish cycle hits. That’s the inevitable nature of all free markets. But knowing when this cycle will occur is the true magic!
You see, anyone can call an altcoin today and say that it’s going to move higher – and they’ll probably be right. Whether the altcoin is cardano, stellar lumens, or freakin’ dogecoin, given enough time in this bull market, they’ll be profit against today’s prices.
But when will cardano, stellar, or dogecoin crash? That’s the real scoop. Don’t tell me to buy in bull market – that stuff’s child play. Tell me when to sell in a bull market, and if you’re correct, I will tip my hat off to you.
I want to share this warning to my Steemit followers because there’s a great risk in believing an analyst’s word is golden. It’s not. But if you keep following the ideas unchecked without due diligence, you could get burned badly.