Well everyone, I think the short-term Bear market is about to end. It has been an excellent opportunity to buy your favorite crypto plays, but the window is about to close. While I have seen some excellent opportunities to invest more of my hard earned money into cryptocurrency, a lot of people have been panicking, and are ready to write the entire market off as a failure.
Human nature is very interesting. The crypto market is so volatile, it ignites the emotions of the masses. When the market is booming, emotions run high. People are elated, and the sky is the limit. When the market pulls back and corrects, emotions run low. Panic sets in, depression runs rampant, and the same people who were so excited about the crypto market start to believe the naysayers, and concede complete defeat.
Here's why this happens...
Emotions override logic. It's a biological fact. When you ignite the emotional center of the human brain, you can bypass any ability to evaluate situations from a logical standpoint. That's how evil leaders take control of the masses, how con artists steal from unsuspecting people, and why movie stars and politicians can do no wrong in the eyes of their greatest fans no matter what they do.
That's why we see so much massive flip-flopping every time the market takes a turn. But if you remember that emotions can and will betray your logical self, you can survive and thrive as an investor in the crypto world.
When the market is booming and everyone is picking out their favorite lambo color, I'm subdued. When people scream "YOU'VE GOT TO BUY RIGHT NOW!" because the market is experiencing a spike, I sit back and watch while people buy coins at the absolute peak price of a run. My rule of thumb? Never, EVER buy into a feeding frenzy. Wait for the dust to settle, and use logic and reason while the masses are hysterical.
Conversely, when the market is making a tremendous slide and the boards are filled with red numbers, I sit back and look at my charts and plan out my buying decisions. While the majority of people start touting the doubters, I quietly make buying decisions. While the masses scream bloody murder and sell off their positions, I wait for the bottom to hit and for the first uptick to reveal itself, and then I buy.
Steer clear of the emotional roller coaster while riding this crazy market and use your brain. Your bank account with thank you for it!
All the best,
Carlton the Crypto Master