Green candle everywhere I guess. One of those seasons that investors and crypto enthusiasts always wish it never comes to an end. It has to end or at least give a break you know or you'll have to catch the falling knife and a heavy one. The zig-zag lines is what make it a market, the mentality of a matured investor should be this, it can fall to where it rose from; trust me, these words will serve you heartbreak.
As the market keeps pumping with our leader coin bitcoin forefronting, I have heard a lot whispering there will be casualties; yes dead investors actually not dead bodies. The idea of 'he who buys last losses', so how do you know you are the last in line? If instinct works for you, kudos, if not be very financially sound during bull markets; the bulls have their favorites and when this sets are done stacking their bags, it mostly game over, at least for a while.
Those who were left to hold the bags in the last market dip know more about this, you'll have to wait your turn in a year probably or perhaps years. Be sure you were throwing your bucks into a reputable project or you may have to wait forever.
The question of how far bitcoin can keep skyrocketing depends solely on the investors. How long will they keep buying the price increment? A 100K? 200K or even above? I personally can't tell but I know from what I am seeing in the bitcoin market, the price is not ready to cut soon. Nevertheless, proper market research rather than fear of missing out (fomo) and herds mentality is professionalism; anyway some do run into careless luck.
You may be wondering, who are the bulls favorites? It can be anyone, yes anyone who bought during the dips, especially the dip of dips; the bull market always honors then first, I see it more of 'a reward of trust and confidence'. It is currently happening, didn't bitcoin fall to the below $17,000 dollars? Speaking again of one of such, my research yesterday showed that Solana(SOL) fell to the below $10 dollars market price from an all time high (ath) of nearly $260 dollars.
Investors were buying for sure, I saw Solana token at the over $130 dollars price mark yesterday and we currently know what is happening in the bitcoin industry. Diving headlong into a bull market to me is a reckless decision, you can't convince the bull at such heights, it has its list of compensators. Am I saying you should avoid the share of the spoils, of course not, yet you have to trade with caution or you'll go about spreading fake news that the cryptocurrency industry is a scam, anyway, we are already use to this.
Early adopters benefited first even from the inception of cryptocurrency and blockchain technology before the next phase of investors. The only thing you can't take away from blockchain tech is innovation but as for price it will definitely not favor everyone unless you are not here for that. We are seeing new sets of investors coming into the system mainly from the bitcoin industry, I know the altcoin industry won't be lacking behind in the process over time. The question of who will buy bitcoin at $69,000 dollars is an article I will have to expatiate another day.
Panic selling and HODL are for late investors
The bulls favorite have already cashed out if they feel the current price is satisfactory. Imagine someone who entered the bitcoin market at a price of $20,000 dollars, he will be getting close to 210% market increase and if the market keeps going to 100K or above you know what it means depending on his greed level. This is different for those who entered in the 40K mark and also for those in the 60K price mark.
For a 50% ROI in the 60K mark it will require bitcoin at $90,000. So what happens if bitcoin gets to 80K and starts declining back to 70K? Panic selling is likely to occur, at least he can still keep around 25% yet the story is a different case for those in the 20K and 40K especially. Showing some resilience may come at a cost if the price dips below 60K, he is left to hold the bags aka HODL. So how does he explain the market from here? Bad right? But is it actually bad? From 20K to 80K and a correction below 60K is not a bad market, he was not just in the favorite category.
This will definitely play out as I said, depending on when the bulls wish to give up the price chase. The best time for me to invest in a project is during down time yet this is the moment a lot of us are always careless about proper research which could have put us in the favorites list. Chasing FOMO to be is hyper market gambling and you can't blame any asset that doesn't give you the needed turnover.
To conclude let me add, it's better to prepare for when the market correction will take place. While rushing to buy the news do the cryptoverse one favor; in case it does not work out as expected take all the blame and let crypto be. Accept it, loss (financial) is a transfer of gain. That's why I keep encouraging crypto enthusiasts to see blockchain tech beyond 'buy and sell' tagged to cryptocurrencies. We can do much with this tech only if we stop chasing the market hype or another set of investors will have to go into 'the hibernation mood' when all investment capital is stuck in a market dip.