How crypto prices are going? Are we still in a bull market? Have we already entered a bear market? Is this another ‘normal’ correction? Why did no one inform us in advance? The simple answer is that no one knows and there are so many variables to consider. That’s why a specific strategy needs to be planned and executed as the time goes by and according to crypto prices' range and fluctuation.
Of course, internet and most specifically YouTube crypto Gurus are always in favours of cryptos and bitcoin, since many of them have invested early and now they just play around with videos and technical analysis which makes no sense. Their main focus now is to have subscribers and views to keep some income flowing in, while cryptos in their portfolios remain as they are mostly getting passive income.
Cryptos is a long term game. Or should we say, long term investment? People like to play with words, but more of 80%-90% of crypto holders (or investors) do not even search what the coin they are buying is doing, what is its utility and usefulness in the real world, etc.
Actually, most of them do not have one. NFTs and game coins recently accused as a pure money laundering scheme, while Tax Authorities are trying to find a way to get their hands on these markets for more in-depth investigations. Why to sell an NFT for 3mil$, while there was a bid for almost 10 mil$? Again, it does not make sense.
Of course, someone could get in the crypto market early, got a coin which made 100x and then got out of the market. But let’s not forget one very important human characteristic: Greed. So, anyone who has done a 20x, 50x, 100x or even 1000x will not stop there. That’s natural.
Which cryptos hit some major milestones and which ones failed to deliver? Let’s see a timeline from 2020, for some cryptocurrencies and check their respective prices. We will see how the last 3 years – 2020, 2021 and 2022 – have started with crypto prices taken from the beginning of January for each year (check the above image-table).
Please keep in mind that in a bull market, everyone is happy and has profits. This is the REAL HYPE!!! The real game though, is when the bear market strikes and who will be able to keep the profits made when prices were skyrocketing.
No one can predict the future!!! If you think that a YouTube Guru can, then it’s time to reconsider your strategy, if there is one...