Market Sentiment: Weighing the Pros and Cons.
People who are not involved in cryptocurrency believe that the psychology behind crypto investing is flawed and dangerous, and that they do not want to swim in that water. I would not say they are entirely wrong. Crypto can be wild, in fact, it is wild; volatility can ruin you, but it is also a two-edged sword for those who have mastered the art. It is like riding a wild horse; at first, you are like "Oh no! this thing will get me killed", and it feels like it is not worth it because of the uncertainty and danger.
Uncertainty is probably the most important factor, and it is what most people fear. However, proof of profit is the most important factor driving self and personal adoption, becausemoney makes all risks worthwhile, then there is the bear cycle, and everyone's back to swearing, using the F and the S-word.
Crypto is not a traditional investment; there is no guarantee that you will end up like Prince Charming or have the happily ever after of Snow White.
Thus, we cannot always say "for sure, this is how it ends". It's left for everyone to individually figure it our and wise up. It is not like throwing in five bucks and expecting to get ten dollars six months later; it is not even a waiting game; you need extensive knowledge, individual brilliance, and technique; unfortunately, for some people, this is simply too much to give.
For example, if you look at this market cycle, it is not completely the same as the last or two cycles ago.
The Feeling That The Last Cycle Was Better
Many people are now thinking that some coin would have done X100, but this did not happen in 2020 or at this stage of the market in the previous cycle; it is just their minds and all that emotion. However, this cycle differs in that the ETFs interfered with the movements. Seeing an ATH prior to halving. It was not something that had happened in any previous cycle, and it led many people to believe that, hit or miss, BTC would reach $500k.
Unfortunately, that balloon has been deflated. I believe that many people are the architects of their own disappointment, and that their inability to simply stand still and wait is the primary source of volatility. I believe BTC may have done all of the pumping it could for the time being, and the only thing it can do now is correct and consolidate.
It is even sadder because the alts never joined the party
.....but realistically, the movement has not even begun, and we are neither here nor there. That is why I believe movement will wait until the fourth quarter of the year.
However, there is no analysis you can perform; I know that many people have a gut feeling that the bull market has ended. It is a ridiculous thought. I have personally witnessed two cycles, and while I do not believe all cycles are the same, the fact that the BTC reached its previous ATH due to the ETF does not mean it is over.
The Time Is Now
This is the time when I believe people should begin to educate themselves even further. It is okay to constructively criticize and be angry, but being excessively gloomy and negative is just messed; sometimes these sentiments are based on underperforming market factors, and sometimes it is just people projecting their opinions.
The "Hive" Elephant In The Room
I have personally witnessed this with some Hive users: when they receive downvotes, they go about writing about Hive, claiming to hate the whales of the ecosystem, but it is simply a misunderstanding they had with one person. They still do not stop their posts from earning rewards, which is insanely hypocritical.
Then there is our overt dissatisfaction with the ecosystem. I understand this in general.
Personally, I believe the overall market is affected; altcoins are not even moving at all. However, this does not imply that Hive is clean; I have general criticisms as well, such as the DHF funding and how it is still not being fine-tuned into customized-marketing, as well as projects that extract value without adding value.
We have all of these, but this remains one of the best places in the space. Weighing the pros and cons helps you achieve an equilibrium, which is beneficial because it allows you to see both sides of the coin; being negative or overly positive can be blinding, which is not a good thing.
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Posted Using InLeo Alpha
I feel one should be fully ready for the crypto world if truly they want to do it
It’s full of profit and losses
Unfortunately, some people have only experienced the loss part of it and when you ask them about crypto, they tell you it is full of losses😁😁
It's exactly filled with the ups and downs.
It's true that entering the crypto world means being ready for both wins and losses. Some only see the downside, but that's just one side of the coin. It's all about being prepared for the ride. It can go either ways.. thank you so much for the blog.. been a bit of a while since I saw you good brother
Yes, can both go either ways.
Absolutely good friend 🥰 absolutely
@tipu curate
Thank you 🙏
I think we have yet to see the run really begin. It's still in a holding pattern deciding where to go... Let's hope we see a nice run on the alt coins in the near future!
Hive isn't perfect I agree, but it also isn't bad. For the most part people are very supportive.
How have you been doing? I'm getting back into writing, it felt good to have a few days off!
Yeah, it's neither here nor there, I think the market in general hasn't been great for the alts, but what can we say..
I think it's not the season of the alts yet, BTC is the only coin doing all the pumps.
I have been there, basically things have been crazy so far, but I'm thankful. I'm glad you took time off, it can be refreshing to do so.
Yeehaw! 🤠 This post is like a wild ride - full of ups and downs but worth the adventure!
Buckle up, partner! Crypto may be unpredictable like a wild horse, but with knowledge and technique, you can tame the volatility.
Time to saddle up and educate yourself further - the wild west of crypto is waiting for brave souls like you. 🌵
Yes, it's the wild wild west
Giddy up, partner! Let's rustle up some kind words and spread 'em like wildflowers in the prairie. Yeehaw! 🤠
The interesting thing about the crypto cycle is that it continues to rhyme, even if it rhymes with different parts of other cycles, and not with one single cycle. And people are too impatient in times like this and they give up a little too soon. That's why the majority never gets rich. Because they rarely go all the way, whatever that means in different contexts.
As for Hive, it's easy to point the finger at the DHF. but I don't think that's the main issue (although some things could be improved). On the previous chain it was the monthly sell wall by the company at the helm of developing the core chain, then the target was on witnesses who sold HIVE (or the other coin on the other chain) to pay for their bills, and so on. I don't think we'd have any issues if there was demand. Meaning alt season, mostly. But since there isn't, and people are becoming impatient, reasons why HIVE price doesn't grow are searched.
Well, you're right in many aspects, however if demand isn't as much as we want, then it means we can have to look at other aspects of the chain too. I feel that every Blockchain out there has there own weaknesses but they market their strength and improve on it. For me there are so many unnecessary projects that are not yielding results. The vibe contest for me is one of them, the DHF too needs to remove projects that can be surplus to requirement to be very honest.
As for the cycle, I think it's not the alts season yet, but I just think that many people are impatient, I can't blame them. It's been a long bear market.
I also have a feeling we are spending unjustifiably high amounts sometimes... If we won't have a proper alt season, what we see now in terms of pointing out what people feel is wrong will go to a whole new level. I hope we won't get there. Or maybe we should, and things got fixed because of the pressure? Which would be better?
I just think it's in the hand of the witnesses. They alone can make these decisions. If they look at the chain critically and listen to the holistic criticism of the community in general they should come up with ways. First I think we just need to firstly tackle all these sounding that are not really justifiable
Wonderful write-up on crypto. I believe we are the early adopters of a technology that is going to see the slow death of fiat money. Given just how much fiat is out there, we haven't seen anything yet of the crypto take over. The best approach is to dollar cost average into bitcoin and proven coins like hive. Most people will probably not get a lumpsum to invest so I believe in slowly investing the little that one has in these early stages. I am sure it will pay off in the years to come.
Thank you for sharing and do have a great new week ahead :}
Thanks for reading, yes I believe we are the early adopters of a technology that is going to see the slow death of fiat money..
the command didn't work before and I'll try again now
@tipu curate
Upvoted 👌 (Mana: 7/57) Liquid rewards.
Thanks 👍
It's not working as well, I've tried it, but I think it's worked this time.
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There will always be pros and cons and I agree that the market just isn't moving much. I think the whole downvote thing is pretty much based on one or a small group of people usually. Most people just tend to avoid downvotes at all.