Traders' sentiments never changed, It looks always the same. Fear and greed will never disappear, Looking at today's market we have gathered so much fear, and the fear and greed index trackers is at the lowest 8% recording an oversold condition. everyone who have been in the space for long must have known that, this is always the right time to buy.
Yeah! You know, but there is this kind of feelings of certainty that we have reached the turning points, yet mixed with equivocation. People are still thinking; "what if it's still dipping?", Well It might still dip, but only to shakeout weak holders, while preparing to crown strong believers. The question now you need to ask yourself is; "am I a strong believer?"
This is the time to begin to buy whether we have reached the bottom or not, I am certain we are close to the bottom if not already at the bottom. I mean look at the market; everything is down, alt tokens are completely down as if we are at the end of a bear market ( I already forgot there was no bull run for altcoins).
People are already thinking that the bear market has begone. Yes! It looks like, and If you are ask me, I would say, the market is being discounted greatly and we have the opportunity now to buy low. We are very close to the bottom the fear and greed index as at the time of writing just dropped to 8% signaling extreme fear in the market.
If you have not learned anything from this market, then you will never learn. People are crying out from liquidation and massive losses. The question is, what were they expecting? How could you be trading the market blindly? You failed to understand that the costlier the price, the more people find interest in selling? Because highers prices attract sellers and lower prices attract more buyers. How could you be buying into Bitcoin at $120,000? and failed to know that people who had bought at $45k, $60k $80k will be expecting their profits by selling out to FOMO (fear of missing out) driven traders?
Learn to always buy when it is being discounted. And for the futures and leverage traders, who have lost all their wealth in the market fears volatility, now here is the message and lesson you should learn from the market: Market doesn't care about your speculations and as such doesn't reward greed. leverage trading is a clear expression of greed, because you need more, you might eventually loss more! Market reward humble people, people who doesn't wanna try to be right, people who probably thinks that they are wrong, but try to follow principles and discipline, by buying the low at strategic levels through spot trading with DCA (Dollar cost averaging) strategy. and employs patience in their dealings; These are the people market reward.
Cheers! And if you are losing, loss well. If you are profiting, profit well! Note: Always do your own research.