Aside from one day in June 2019 ( when bitcoin had a value of around 12/13k US dollars ) greed has been higher than ever in the crypto market. That is, if I need to believe the so called Fear and Greed Index, that started measuring the crypto market sentiment on February the first, 2018 ( almost 3 years ago ). And yes I do. I can sense it clearly. The greed is strong ( in this one ) and the air all around me.
Not too surprising, if you ask me, as Bitcoin is literally at an all time high these days - reaching 35 thousand US dollars today, for the first time ever.
Meanwhile, Hive - the coin connected to the platform where many of us, myself included, are blogging on - keeps functioning like the perfect stable coin. It's almost as if its hibernating, while the entire crypto market is making serious moves. This can be frustrating, at times, as many of us have been on here ( including our time on Steemit ) for many years and the one and only serious pump of the Hive coin, back in March, briefly made the value surge to almost a dollar, before we saw it dive down and down and further down, aside from some small pumps to 25 to 30 dollar cents or so up till it's current value of hardly more than 10 dollar cents.
I feel for those who bought a bunch of Hive at its all time high. I was one of those who sold a bunch, just before the major pump ( I needed to get some groceries ). That didn't feel too great either. Two days later I would have made 10x more, which would have gotten me groceries for a year or possibly some BTC.
Welcome to the crazy world of crypto!
The low value of Hive, of around 11/ 12 dollar cents, makes it tempting to sell our Hive for Bitcoin and other coins that rocket up. That is not necessarily a great idea though ( and I'm not just saying this because I am emotionally invested in this coin and the underlying platform ). Always question your motives behind a sell or buy in, make a plan, set some goals. Never do it out of fear or greed alone.
( believe me, I'm still trying to implement the above advice myself )
Ask yourself how you are feeling before you make a move.
Greedy? Fearful? It's all just a matter of perspective. Just keep in mind that when fear is at its all time high, *as is the case today, it's not necessarily the best time to buy in. Especially if you haven't bought any crypto yet or if you have HODL'ed your coins for a long time. If the latter is the case, you might want to take some profits. If the former is the case, think carefully before you make a decision.
How would you feel if ( you bought in now and ) the market suddenly went down a lot? Would you be able to keep your head cool? Would you be strong enough, mentally and emotionally, to buy more when the value of BTC ( and altcoins ) will suddenly go down? Would you be able to sit through a year or two of hardly any upward momentum?
Beware of scammers
Another thing to be aware of, is that the overall market sentiment attracts more and more scammers, trying to get hold of your keys ( and thus your coins ). Don't fall for these guys/ gals. Often scams pop up in the form of 'Claim your free airdrop here' ( where they ask you to enter your keys later ). Many of them give away their 'scamminess' just buy the spelling mistakes, crappy English, alone. Some are a little more sophisticated.
One thing is clear, they prey on (y)our greed. So be aware before you click on a link for FREE crypto, another unknown airdrop.
If the aforementioned happens and you are in doubt, feel free to ask in the Leofinance discord or Hive discord. There's plenty of helpful and knowledgeable people out there to set your mind at ease ( or excite you even further ).
How are you feeling today? Fearful or Greedy?
Keep in mind, I am just another person who got sucked into the world of crypto, during the previous bullrun, May 2017. I am far from rich - made a bunch of mistakes that I learnt from - but I sure feel abundant and am growing and learning every single day. If there's a single person that picks something up from my experience, sharing this information has been worth it.
Happy 2021 and welcome to the age of abundance ( if you play it right)!