Topic: Some traps to avoid in bullrun. (Read 617 times)

During a bull run, buying Bitcoin or altcoins is of course very risky, and if you are interested in buying crypto, it would be better to use the money you are prepared to lose.

Yes, we should not put our coins on exchanges because it is potentially dangerous. Yes, if we buy BTC now, I don't think there's anything wrong with it because soon there will definitely be a BTC halving, but in my opinion, if for example we buy altcoins there's certainly no problem as long as we're ready to face the risks. However, it is best to buy BTC because BTC is currently the safest cryptocurrency.

However, buying crypto during a bull run is of course very high risk, so in my opinion, even if you buy, you must be able to analyze it technically and fundamentally, so that we know when a bear market will arrive.

At the time around in this bullish momentum you just got to think smart because due to alot of hype concerning prices prediction due to upcoming halving most people have been investing in different cryptocurrencies without any proper research because of FOMO. And I believe most people have already invested  their funds in some bad projects with high risks already Always do good research first.

While in the scamming part most platform as found the way to lure most investors with higher percentage in staking. And most people don't know that any scamming site are the one with always the bigger percentage. They will only for a short period of time after that they will crash and run away with your funds or cryptocurrencies you stake. Most times the only lucky ones are those that started it on time and was quick enough to remove their funds with some profit.

So before staking your funds any platform research about it first to see if they worth trusting.

Another opportunity is already approaching for you to make smart moves this time everyone expected it to go higher you were even lucky to sell some at least you made some profit and that is the most important thing because imagine buying and holding during the bull run you still did not sell just imagine how you will be you will be emotionally down. don't worry halving is already here this time you won't miss this opportunity. because there is an expectation about the ATH and there is always a difference in all ATHs so expect more, that is another good piece of advice is better to sell and make back your capital and profit at the same time. and sharing this will help a lot of holders so we learn from one another that is the point of this forum to learn. and at least people who have extra plans to not sell and wait for the price to go beyond will learn.

Currently, the price of the coins is pumping due to demand because people already see that they think they are already late with the upcoming bull run but it's not the bull run that we've waiting for it is just a taste of it, investors make a huge move with this so they can make a possible drop of the price if they want to, grab the chance when people feared with the situation and sell when the people gets fomo, there's nothing wrong storing your asset in exchange if you are an active trader but make sure you have the plan what you will do with your coins again not your keys, not your coins.

My personal mistake that I made during the previous two bull runs was not selling enough coins. When the price was at ATH, I was thinking that there's still a lot of fuel in the tank and the price will peak much higher. And when the ATH crashed, I though it's just a correction until the price fell so low that I decided to just HODL and wait for the next bull run.

If this bull run will play out as the previous ones, it's better to start selling some time after the price surpasses the previous ATH, and then buy back deep into the bear market.

This is sage counsel. You made a genuine effort to identify some of the issues we have here, particularly
we biginners  when it comes to investing. It is not a good idea for us to start invest with the money that we cannot afford to lose. We major investors here frequently run into this kind of problem because some of us aren't inclined to learn about cryptocurrency investing, to know whether it will be profitable for them or not. They want take their time and consider the risk involved, which will ultimately result in them losing money and not gaining any.

Furthermore, if we have knowledge about anything we wish to introduce ourselves to, It will more be preferable than diving in headfirst without any prior knowledge, it is beneficial for us to exercise caution when it comes to investing to avoid getting lost.

I want to add based on my experience, avoid Telegram or Twitter groups with big followers about pump and dump, your money will just disappear because it's a scam, they will buy first, then say "pump" at the specified hour, when you buying, they sell coins or tokens that they have previously purchased before the pump and dump event. Lastly, stay away from shitcoins that say the next Shiba, Doge, and other meme coins. If you don't want your money to be lost, stay away from coins and tokens like that.

A good reminder about not keeping the coins on exchanges. Why?

It's because that whenever you want to take profit and you're about to sell, it's possible that they won't allow it. There can be some error message that will pop on your screen and will reason out that there's an error due to the traffic that they're getting.

Also, when you're about to withdraw your profits from them.

They can disable it for real because they want to lessen the money getting out of their exchange so remember that.

Most of the time, it's the beginners that fall for the FOMO (Fear of Missing Out), they feel they have to invest now because they might be too late and the price will only just go up at that time but then they end up buying during the time that the price of bitcoin or the crypto that they are buying is at the peak or they've invested at the time of the decline. The problem with the random altcoins is that they have a really good PR that try and sell it to newbies as the next bitcoin and so these newbies not knowing any better try their luck because it's much cheaper and they get a lot of altcoins for a their money comparing that to buying bitcoin, it's unlikely that they can even buy 1 bitcoin not to mention that a lot of shitcoinfluencer are shilling a lot of altcoins because they want more to get in because they've invested early on that shitcoin and they hope that there's a lot of suckers that will get in so they can get out in a profit.

I think FOMO is usually seen amongst late entries, because an investor who is used to the Bitcoin and cryptocurrency ecosystem will not fall for fomo. Newbies who haven't been following the trend and dynamics of Bitcoin and cryptocurrency will want to see how they can quickly get their own share from the market and end up been caught up with FOMO but then it's very crucial that even amongst experienced investors, they should be selective about what they get from the media if they must maintain a healthy investment attitude.

Picking or investing in random altcoins due to speculations could definitely cause more harm than good to the investors, although some times it turns out in their favour and makes them look like their speculations were right but always DYOR as it's the best way to go.

Historical celebration indeed. Everyone is eagerly anticipating the next halving; both those who have experienced it firsthand and those who have only heard stories of its benefits are waiting for it to occur. Every bitcoin expert who has previously witnessed a bitcoin halving has been regaling novices with tales of how the market moves unexpectedly and how everyone benefits from it. Since there is always a new ATH when the halving occurs, it can be considered a historic occasion deserving of celebration.

People rejoice in this historic occasion, but there are also those who break down because the excitement and joy of the bull run have carried them away, causing them to lose their concentration.  The bull run comes with many distractions, but we cannot afford to let our guard down because there are numerous scammers in the cryptocurrency space who are always looking for people to make the smallest mistake so they can con them. For this reason, we should always put the security of our assets above anything else, no matter what.

It's likely that everyone considering investing in bitcoin or any other cryptocurrency has heard of this statement. I don't see any reason why people should be dependent on cryptocurrencies that they would invest their entire fortune in them, given their lack of guarantees and the volatility of their price. It is important to remember that the price of bitcoin can fluctuate in any direction and could work against or in your favour. That’s the more reason why every cryptocurrency investor is advised to train their minds to accept whatever the outcome may be and understand that bitcoin has a 50/50 chance of success so therefore the best course of action when investing in cryptocurrencies is to invest an amount you can afford to lose without feeling guilty.  To the departed souls, RIP

You will be much less stressed and concerned about the direction of the bitcoin price if you adopt the attitude that anything can happen and always be ready for the worst. Even during bull markets, prices can fall and then rise again, so it is up to us to be proactive and determine when it is best to take a profit because nothing is guaranteed. Although there has been a lot of speculation lately and people are just projecting their own opinions about how far the price of bitcoin will rise, one thing is certain: bitcoin has the potential to rise as high as possible.

This is terrible when you consider random altcoins for your crypto investment. Instead of seeing your profits grow after bull run, you might end up wasting all your capital seeing those altcoins dropping their prices suddenly and are not even sure if they can still recover or not. That's what we get if we ride the FOMO and just jump into altcoins because they're cheap and promising, instead of focusing into bitcoin despite of its high, expensive price.

However, only those newbies who are still inexperienced of the market only do that. The reason why these newbies are susceptible to losses because aside that they enter the market wrongly, they chose to invest in wrong coins also that made them lose their capital in such a short period of time.

Such strategies are doomed to failure. Since if you are guided only by this principle, invest as much money as it is not a pity to lose and do not carefully choose the object of investment, while observing risk management, your money will be lost after the first dealing.

and the impact is always sharp because you buy at a high price and that's what happens on average. It really looks like an inducement to get more people to come in and buy. However, it's also a test of patience in my opinion, even though it seems ridiculous. especially if the same mistake keeps happening over and over again.

I have video of this guy that was crying frivolously after he used money meant for shop business to buy Shiba thinking he is going to make something before the end of the week because it was literally Shiba that was toping the chart, meanwhile the guy wasn't even the owner of the business, he is just a sales boy that keep records of sales and did silly investment and when it crash, he was begging for people to help him lend him money.

He was out of the job and was arrested later because nobody was ready to help him that time because the amount was too huge to lend someone who doesn't have a means to pay back. The family later bailed him out. What is the moral story of this? If you don't have money to invest, just watch and learn how things go when you don't have the means to buy. Don't take actions you may regret later.

We don't just hope but certainly be doing what is best. We could just listen and see the market sentiment and act accordingly that will give favor to us, we can't go against the trend but rather go along with it. If we need to hold, then we should. Buy at a low price and then sell at a high - it is certainly working so well.

We have to boost ourselves by trusting and believing in the bright future of the market. And we don't stop believing that bull season will come after the bear season, so must live patiently and remain focused on our goal rather than be disturbed by fake news.

Yes, I agree that the number one is the most significant thing to happen to people, and it would be best if people avoided it due to its extreme risk. Many people feel that investing large sums of money in bitcoin during a bull run is a wise decision. While everyone with coins hopes for a bull run, it is better to invest small amounts rather than taking a risk with money you can't afford to lose. Instead, start with funds you can't afford to lose because of the potential gains.

However, the third option is also the best because it will listen and comprehend. Scammers are all over social media, searching for people to con. You cannot try to hold a coin at this point because you will be inundated with messages and even emails that will confuse you and allow scammers to gain access to your personal information. Most importantly, when a bull run begins, scammers will want to take advantage of the opportunity to con someone, so it will be beneficial for everyone to watch out for themselves to avoid falling victim to scams.

Here's the deal, especially for newbies. During a bull run, it's easy to get caught up thinking everything only heads up, no downs. FOMO kicks in, and folks just buy, buy, buy, fueled by that "to the moon" vibe. But hey, reality check! In crypto, what goes up often takes a breather or even dips. When your favorite tokens hit that all-time high (ATH) party, don't forget the afterparty which is corrections or even all-time lows (ATL). So, when you see those profits smiling at you, be smart. Take some off the table, keep your eyes peeled, and ride the crypto rollercoaster with your wits about you.

The main objective of investing is to invest as much money as you can afford to lose. Because there is no guarantee that you may experience losses and profits while investing. That's why when you invest you can have no feeling about the money but you can invest in future success. When an investor invests, he joins the investment by giving up his illusion of that money and holds it, just like investing, money cannot be illusioned. It is normal that your money can be lost by investing so you have to work with patience. Investment is a main objective of profit that's why long term investment is best and better because short term investment will never give you profit. So invest the amount of money you can afford to lose and hold for long term it will be the best investment for you.

The price of Bitcoin is going up a lot in the market. The market is headed for a bull market ahead of Bitcoin's halving next year. At this point other coins start pumping. Newbies in particular are reluctant to invest in Bitcoin as they see the price of altcoins rise as the market sees Bitcoin rise. They think that buying alt coins at a low price will make a lot of profit at one time but they don't understand that these alt coins appear to be a scam. Lures usually provide investors with confidence and to see performance in their interest. But it doesn't do the lures whose core destroys the guarantee of unchanged profits. Coins will pump or dump at their own pace so that doesn't mean we have to make the wrong decision.