Currently, the cryptocurrency market is in a unique position. It's not a bull market, nor is it a bearish market. Instead, it's somewhere in between. Despite being in a bull market theoretically, many altcoins have not seen a significant increase in price when compared to Bitcoin and other coins that have experienced a massive surge. Although some might find this concerning, others view it as an opportunity since there are still many altcoins that have not performed well in the current market.
Opportunities are aplenty, but not everyone has the inclination to invest, irrespective of market conditions. The present market is ideal as it is not too high to afford our desired coin, nor too low to dampen our spirits. It offers the perfect momentum to accumulate and build our portfolio. However, for those who lack the drive to invest or are unclear about why they want to invest in the first place, excuses always come easy.
They all follow bubble
Investing can be challenging and risky, which is why some individuals with savings struggle to take the plunge. They often wait until there is hype in the market or a bubble before investing out of fear of missing out, rather than a commitment to building a sustainable portfolio. Unfortunately, this approach leads to short-term gains and long-term losses. The main reason why it is always like this is because we are not in for the right reasons, we are making decisions based on emotions.
Many people buy at the top simply because they don't fully understand crypto or investment, and are eager to jump in during this time. This can lead to FOMO (fear of missing out) and a desire to capitalize on the market's tempting conditions. However, when the market is stable or in a downturn, these same people may not be interested in investing due to fear. It's important to educate oneself on market trends and conditions to make informed investment decisions.
We all want bubble
Having a plan is essential for success. To create a plan that works, you need to understand what you want to achieve. When it comes to investing, the most successful investors are those who understand the market and the project they are investing in. They invest when the market is not in a bubble or when there is no hype and plan to acquire as much as they can. This way, when the market is booming, they don't have a fear of missing out since they have already made profits.
Many people are missing out on the current market due to their lack of understanding. Understanding leads to future planning and excitement to invest. Without it, people tend to stick to safe options and settle for less. However, the market has been stable for a while now, and there is a chance to grow our portfolio if we take advantage of the opportunity to invest. We must remember that the only reason why people are not investing in the current market is that they don't have anything to excite them enough to bring out the money. Let's invest wisely and grow our wealth.
Thanks for your time.
Posted Using InLeo Alpha
Plans are important. Defining your targets makes you more comfortable as you know what to do and I think the herd mentality is very bad for people. Falling for FUD/FOMO will hurt quite a bit because by then, the move has already been made.
Right, for many people, investing only happens when their emotions are involved, mostly greed or FOMO. I think having a basic understanding of how markets work is crucial when making plans about investing. This way, it's easier to stick to the plan when emotions go sideways.
This post has been manually curated by @bhattg from Indiaunited community. Join us on our Discord Server.
Do you know that you can earn a passive income by delegating your Leo power to @india-leo account? We share 100 % of the curation rewards with the delegators.
100% of the rewards from this comment goes to the curator for their manual curation efforts. Please encourage the curator @bhattg by upvoting this comment and support the community by voting the posts made by @indiaunited.