Is this your first bull market?
These days everybody is talking about the same things over and over again:
· And…. I almost forgot Tesla.
You got the idea.
What does it all mean?
It means that we are in a bull-market on both stock and crypto markets and everyone is looking to get rich quickly. Unfortunately, that is impossible.
Because, this is a zero-sum game, and your profit is another man’s loss. So, you need to outsmart some people, more or less experienced than you in the investing “bubble”. Do you think you’ve got what it takes for making money in these markets?
Where am I trying to get?
If it’s your first bull-market you will most likely lose money. It may sound harsh but it’s the truth. Look, it’s hard to buy a coin that won’t pump at least 2–3x, but you will probably believe the bull market is going to last forever.
Spoiler alert: it won’t, and you won’t sell in time unless you have a plan. So, don’t start before having a plan.
What you should also know before starting to invest?
· Buying is the easy part, holding is a little bit tougher, but selling is the hardest part;
· Don’t invest more than you afford to lose — crypto may be the future of money, but until you can buy your food and pay your rent with it, keep some dry powder (cash) at hand;
· Always check the charts and don’t fall in love with any coin, but keep a little honey bag in case the run isn’t over;
· Your initial investing capital doesn’t matter as long as you keep buying dips and learning;
· Don’t become a Bitcoin or Ethereum maximalist — any serious portfolio should have at least Bitcoin and cash or synthetic cash in case of a market dump;
· The cryptocurrency space is exponentially evolving, so every day you should learn something new. Start with De-fi and NFT’s because these are the hottest topics right now.
· Don’t forget to remain humble and rational, otherwise the market will do it for you.
If you found this article useful you will most likely like my ebook more: “A RETAIL INVESTOR STORY ABOUT BITCOIN”
Here’s my referral link on Binance, the best centralized exchange in my opinion.
Also, there is my Bitcoin address: bc1qzs25cedx5fxuszn22jr2gvp4suzjsp5t8qc7xs
If you have any questions about crypto you can find me here.