When I started to understand market cycles, the plan was simple, take profit during the bull market and load up aggressively during the bear market. How did that work out for me?
Timing the market?
One of the most difficult things to do is time the top and bottom of the market in crypto. $64k was the top price of BTC for 2021, majority thought it was primed to top at 100k.
For Hive, most people basically had no idea what the top would be. So close to the end of the year, Hive began its bull run and I started to dca out slowly, but since most of my hive was powered up I couldn’t catch the top at 3$.
Power down took a while so I ended up selling most at $1-1.5 range. It wasn’t the greatest catch but it wasn’t too poor either, seeing where prices are at now these days.
One thing was sure for me, that the 2021 bull run wasn’t my-get-rich bull run or at least so I thought and as no one knew the top it seemed unwise to cash in all the Hive I had, but even worse was to not sell at all should the bear market hit.
Looking back at that time and today, while I applaud myself for not totally sleeping on making those moves, I don’t think I sold enough. Or maybe it’s just in my head.
The Top is Fugazzi
However, the lesson I’ve learnt is that timing the top is as futile as timing the bottom. As a matter of fact, the “top” is Fugazzi.
Because it’s almost impossible to tell the absolute bottom, DCA-in during the bear and DCA-out during the bull is almost the best winning strategy. This is my stance for the time being. And the cryptos I’m looking to accumulate and already doing are Hive, Pcub, Rune, BTC and Sps.
Naturally, Hive ecosystem makes it easy, a way to DCA into Hive and it’s babies(LEO and co) is by being regularly active.
Irrespective of the stage of Bear market we are I’ve built my warchest in HBD to take advantage of these times. If I play my cards right I’ll be ready for the next bull run whenever it’ll be. The plan is simple, grind the bears and eat the bull.
Remember it’s the time in the market not timing the market.
Cheers fam.
Thanks for reading.
Posted Using LeoFinance Beta
I did not sell enough hive too during the bull run but I’m comfortable now just waiting for 0.25 range to stack more but I don’t think that will happen anytime soon. I want to be buying gradually now
Posted using LeoFinance Mobile
Waiting for $0.2 levels cost me the opportunity to load up at $0.3 and we saw what happened after.
I’ll be buying gradually now as well.
Posted Using LeoFinance Beta
Thank you for your witness vote!
Have a !BEER on me!
To Opt-Out of my witness beer program just comment STOP below
Sorry, out of BEER, please retry later...
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.
Please contribute to the community by upvoting this comment and posts made by @indiaunited.
Thanks @bhattg
With systems in place on Hive it is makes filling our crypto bags continuous provided we stay active.
After all the top is nothing but Fugazzi!
Posted Using LeoFinance Beta
Exactly you get it.
Don’t fall for the “bottom” or the “top”
The plan is simple, grind the bears and eat the bull. — grinding the bear won’t come easy though .
True Alpha here:
If you remember nothing else about crypto trading this is it.
Posted Using LeoFinance Beta
Promoted on Leofinance, so as many people as possible see this and save themselves loss and anquish.
Posted Using LeoFinance Beta