Topic: [2107-12-20] Bubbles, Strategies, FOMO, and Early Exits (Read 134 times)
Waiting for a healthy correction before buying in again. The rise from $10K to $19K is too much, too fast.
Cryptocurrencies become the next thing to be traded and mostly works for most people. But, in the game of trading, there will be some people get a loss, right? But, not in cryptocurrency trading, at least not for most potential coins such as eth, dash, zcash, ltc, and so on.
Why? Because the top of the current bull market is far away, as there is a huge potential of additional buyers left that could fuel the rally.”
There are lots of people that may see it and want to be involved in crypto trading. Even most big whales in Wall Street just start their journey in bitcoin futures and maybe want to learn other cryptocurrencies. That's why current price of altcoins seems get pumped.
Why? Because the top of the current bull market is far away, as there is a huge potential of additional buyers left that could fuel the rally.”
There are lots of people that may see it and want to be involved in crypto trading. Even most big whales in Wall Street just start their journey in bitcoin futures and maybe want to learn other cryptocurrencies. That's why current price of altcoins seems get pumped.
In the 16 years that I have spent observing and trading the markets, there were several incredible events that changed how I look at investments. The bull market in stocks that is fuelled by free money, the Lehman-Crash, and the Dot-Com bubble were among them. To be clear, the current cycle in cryptocurrencies is not one of those, even as some of the coins routinely double daily.
The Crypto-Boom is Legit, But…As I stated in one of my articles before, I don’t doubt the validity of the crypto-boom for a second, and I believe that blockchain applications are one of the next big things. Having said that, the validity of a story, at the end of the day, can’t justify the insane gains that we are experiencing currently, just as the validity of the dot-com story didn’t justify the lofty valuations of basically non-existent business during the late phase of the tech-bubble.
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