RE: What Are Some Things You Should not Do During A Bull Market Year?
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In my opinion, you can buy HIVE without fear up to 0.5 USD. All purchases above that should be made only according to a plan. That means, before buying, you should know where you will sell, not just buy and hold. The 0.5 USD mark is not arbitrary. Anything below 0.5 is cheap, even at 0.5.
- First, technically, it will now serve as a strong support zone.
- Second, it’s a round number, a psychological barrier.
- Third, it was a resistance level in the accumulation channel that formed in 2022-2023.
If the price is around 2-3 dollars, what difference does it make whether you bought at 0.3 or 0.5? The profit will be huge.
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Smart analysis. Thank you. In reality we never can tell how far we can go, I'm talking about the price of Hive. But you're right, technically anything below 0.5 is right, and one is bound to make profit anyway.
For me it was all about milking out more value and getting more for the HBD I had.
You can't know where the lowest point will be and where the highest point will be, it's impossible, and not really necessary either. What matters more is the average purchase price; that's the key when you're building a position.
I wouldn't say that profit is guaranteed in any case; it’s probably more accurate to say that there is a high probability of it.😁 You should always leave a bit of doubt in every action on the crypto market.
Yes, I wasn't intending to know the low and the highs. Personally I have a psychological price point. It's like a sort of sentiment for me. I don't know about, but personally I think everyone has a type of price point where they think they've hit it.
I explained why I was disappointed as to why I didn't pick it up at a cheaper rate
I agree with you on many points, but not on the idea that everyone has a specific price point. Usually, when the price rises, the selling price point moves further away; people think something like, "Well, it'll rise a bit more, and then I'll sell." On the other hand, when the asset is stuck at the bottom, the thought is, "It'll drop a little more, and I'll buy." This is a big mistake.
Also, you mentioned that it’s harmful to listen to FUD in a bull market. I would add, with your permission, that it’s always harmful to listen to it. Usually, FUD comes when the price is low, spreading fear that it will go even lower, and at the top, the opposite happens—FUD makes people believe the price will keep rising, always higher, so they don't sell.
I think honestly I react well with FUD this time around, I reacted in a way I shouldn't have. It's bizzare, and it's quite ironical how this has played out. I have learned one more interesting lesson about the market. Not wanting to buy because you expect the market to go lower so you can get even more. It's a shame lol, and I feel like I've been played hahaha
Yes, in most cases, it all works in reverse. I once came across an article analyzing the loudest FUD from the previous market cycle with a BTC chart reference, and almost everything worked in reverse. When they shout that you need to buy, that’s when you should sell, and vice versa.