It’s been a bouncing week in the crypto price after the last week crash that got lots of our portfolio’s value splitting in halves. Bitcoin was seen at the $25k price which was enough to see a lot of crypto noobs spread FUD. Crypto noobs are quick to emphasize how the crypto has crash anytime there is a massive dip, and start being grateful they never invested. Then the Bull season comes, you see them rushing and buying the top, then the bear season comes again and you see them running to sell the bottom. And it keeps going round and round and round like this every season. You keep seeing the doubters in the bear season that end up buying the top in the Bull season then sell the bottom in the bear season because of fear.
Battle Of The Strongest
The whale bears and the whale bulls are constantly always in a tug of war to show who is the strongest. The whale bears are constantly trying to bring the bitcoin price low and the whale bulls are trying to bring it high, this is why we are stuck in the ranging price between $28k and $30k right now. Most times I try to imagine what goes through these whales head while doing this. How do they do it? Do they know each other or belong to the same crypto whale special group chat? Do they signal each other to long or short at the same?
Is the price pump and dump a sort of competition for these whales? Or it’s just how the game goes? Well, most of the time it’s the retail traders that suffer all these. Because no matter how much get liquidated from any side of the whales(Bull or bear), it takes just a matter of time to make it back from the market and we know who pays the consequence, the unfortunate retail trader doing opposite what the whales are doing.
Last week and the 2 weeks ago, we saw a tug of war tournament where the bulls lost to the bears and we felt it.This week we are seeing some sort of tug of war between them again as this is shaking some investors confidence. Some investors are sitting on the fence, there are stuck in the dilemma of, is this a matter of selling all their assets leaving it as StableCoin and wait to see if Bitcoin will drop to $15k or just keep hodling.
Focusing On Other Things That Matter
Right now is the best time, in my opinion to stay of checking bitcoin price and chart and just focus on the crypto space, it’s products it’s technology and how it’s going to affect the future. Because if we keep looking at the price chart it might get us discouraged, the red bars these periods are long and for a long time I have never seen the red color so red on the screen except during the bear season.
Accumulating during this bear season is the best way to compensate yourself. The bear season is not going to last forever, accumulate this season, so that when the Bull season comes, you can take profit and reward yourself for holding on for the long run. Taking profit is essential don’t forget to do that when necessary.
Buying the dip is also essential when fiat is available, this way you get more for lesser value.
Posted Using LeoFinance Beta