What Are Some Things You Should not Do During A Bull Market Year?
Hive pulled some of the biggest gains in the crypto market since midnight yesterday. I believe it ranged from $0.38 to $0.65, approaching double figures from the price of about 24 hours ago. I was about to buy some Hive with the HBD I had, but at the price I saw yesterday morning, I was not too pleased.
I thought it could go lower. I wanted to accumulate more HBD in the hopes that the price of Hive would fall, allowing me to simply hit the internal market and purchase some cheaper Hive. However, yesterday I felt compelled to buy, but I lacked the necessary conviction.
I read some post early in the day, and the post was extremely FUDish. I figured out that even if Hive dropped back to the 30 cents range from the 38 cents it was at, it would still be a great buying opportunity for me, at least until we finally pump hard in the third quarter of the year.
The FUD post I read came from a prominent Hive user. He is a constant FUD poster, (80% of the time) always complaining about the price of Hive, but you would think he would listen to his FUD and power down and ape into one meme coin on Solana or something, but this person keeps buying and stacking Hive despite his FUD posts.
So I took some inspiration from his Hive post earlier in the day and decided we would go lower, only to miss out on the opportunity to buy more Hive due to a single FUD post I read.
So here's a lesson: do not listen to FUD during a bull market year.
.....if you do, you will miss out on profits because your emotions may be influenced by another person's FUDish attitude. I mentioned "bull run year" because we can afford to be bearish on alts every other year except during an official bull run.
The reason is that you have 24 months after an official bull run to be fearful, after that you need to wise up and start buying up. If you remain FUDish for the first two months of a bull run year, you will most likely lose as you watch the market pump in complete disbelief.
You will not only lose, but you will also regret it so much that it may have an impact on your mental health.
I have been in the space long enough to recognize or differentiate between FUD and criticism.
It feels ironic to see a FUDish user stacking Hive, but I go to understand something. You can be scared but wise. You should not be stupid and afraid at the same time.
It is either stupid but brave, or courageous but fearful.
When you're stupid and fearful at the same time then crypto isn't for you.
The person I mentioned was fearful, but he was not stupid. He was well aware that underestimating Hive was the worst thing anyone could do.
He is been around for a long time; in fact, this person maintained his stake in Steemit when the chain forked. He wanted to see which chain would survive before committing his loyalty.
Be content; greed makes you lose more.
Apparently, I wanted more Hive but ended up losing. I assumed we would inevitably drop in price (Hive), and I was already fantasizing about how many cheap Hive I could get with my HBD, but it did not work. Was I greedy? Yes.
I wanted more. In fact, at the start of the year, I had an intrapersonal communication with myself. "Hey, no HBD this year; everything that resembles HBD should be converted to Hive." I had already accepted, but on second thought, I was like "they are FUDing Hive, perhaps it could go lower, so I will wait." I ended up not misfiring on all fronts.
You Might Not Succeed As A Returning Veteran.
The bull run year is not the best time to build; instead, people use arbitrage (as we are currently doing) to accumulate more liquid coin in preparation for the big pump. When you try to build during a bull run year, you will either end up buying expensive coins or watching others who have built over time profit.
For example on Hive, a lot of people are already primed. So, if you return after two years and hope to get a whale to do some opportunistic curation for you so you can make a quick profit, it may not work. It means you'll be under pressure to get upvotes on your contents, and 80% of time you'll end up fraustrated.
There are no quick fixes; you must either stay through the FUD and winter and build, or come in with a large sum of money three to four months before a bull run year and purchase a large number of cheap coins.
Brothers and sisters, this is just the beginning. A lot of unexpected events will occur.
The Koreans are not done. The interesting thing is that Alt season has not even begun. This is an example of the types of pumps that you can expect to see in short periods of time. Be ready, very ready.
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Interested in some more of my works
Is it Easy To Make Money?
Nigeria: A Unique Business Market & Industry
Virtual Bank Apps In Nigeria: An Experience Of Gamification
How To Find The Next "BIG" Meme Coin
Personal Finance: Achieving Intentional "Saving" Goals
Playing The Survival Game: Human Nature In Introspection
"Un-PAYING" The Debt You Owe
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"Be content. Greed makes you loose more." Thank you for this reminder. I always have this regret of selling a little early during the bull run. But then I realized that atleast i took some profit and i still have some hive and HBD available anyway. All from blogging and curation. So we all should have a grateful heart for whatever gains we have :)
I'm glad you understand the concept. Profit is just profit and we will never get all the whole profit out there. We will lose some, but at least, profit is profit no what what greed makes us think
unfortunately, I have capital elsewhere. I thought the price would remain relatively stable.
I thought the price will take a few weeks before pumping. It's probably a signal that Hive isn't joking in this cycle.
You don't have to sell when you think you have to sell, you don't have to buy when you think you have to buy 😁
Hahaha generally I think selling or buying or holding Hive instead of HBD and vice versa, everyone makes mistakes. I think I'll follow your rule hahaha.
I'm glad i listened to a friend's advice
Preparing for the bull run, one has to be careful not to be apply all the advice they listen to, for now accumulating more hive is the real deal...
If eventually hive drops to $30 cents you could take advantage of it and buy more.
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.
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.
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.
Things are not easy anymore with these pumps. Dumps are not what they used to be, and one may risk holding HBD (because otherwise it would be buying at a loss) and probably not selling at the top of the pump either.
Things are definitely harder then they were. In the past it was easy. I think now, everyone wants to touch their hands on hive. I have incurred losses while trying to make profit on the internal market, because it wasn't as simple as it used to.
It was definitely a surprise pump for me and I didn't have any HIVE at the time to make arbitrage. Meanwhile, I've set a buy order for Hive at around $0.33 almost a week ago.
Listening to FUD messes up our emotions, especially during a volatile market period. Just have to build more conviction and stick to the plan.
It took everyone by surprise. If you see the daily hive volumes on CEXes you'll understand why we're pulling these outrageous numbers. Alts in general haven't even started pumping, but I want to think Hive has a mind of its own in this cycle
I just need to pick up more liquid Hive, I meant to pick some up yesterday but forgot. Talk about missing an opportunity. There will be more! That's what makes crypto fun, you never know what's around the corner! Things are just starting to warm up, so you are right it going to get interesting!
!hiqvote
I did intend to pick up more only to end up messing it up. I know there will be more opportunities but let's see if Hive could dip back into the 40c range again as this would be a juicy accumulation zone. I know that more opportunities will come
I think the best way is to think on long term goals, never getting emotianl on pumps and dumps of the day, though we have to admit that Hive is growing in the past months, not only in market quotations, but also in general interest.
You're right. The long-term matters more because this is how you get to even accumulate more. Hive is getting a lot of interest and it's good to finally see that we're doing. Thanks for the comment
Nice write up. I couldn't stand the sight of seeing hive pump this afternoon. It was a surprise that something can change in a Twinkle of an eye. More surprises are coming as you've said. I look forward to them.
Yes, we all look forward to seeing more of them as we couldn't have anticipated what truly happened.
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FUD/FOMO is never good. I think it's better to have a plan prepared so you aren't left unprepared and swayed by others. Emotions are one of the easiest ways to miss out on what you might believe in.
Indeed, it's better to stand your ground and stay away from emotions, but it's never easy to not give in.
I coudln't agree more, my friend. This is the reason I've tried my best to write in the last two years when the value of Hive isn't at its best. Now I'm more than ready to profit. I haven't withdrawn a penny in the last 3 years. I'm excited this time!
You've done relentlessly well over the years and I've enjoyed your content: work, health and life experiences and yeah, the bull run will be beneficial. You can do well to keep compounding as well especially with the bear market starts again
Your posts are so precious to a complete crypto ignorant like me ahah thank you so much!
One thing... What does FUD mean? 😅
Once you tell me, I'm gonna read the whole post again to really understand what you are talking about
FUD means Fear uncertainty and doubt. It's a term that's mostly used in a bear market.
Enjoy this pump @josediccus !
Don't forget to take some gains!
Thanks a million. Of course I'd definitely take some profit for buy backs, but I guess the price is not right yet.
$0,75 next goal, and after $1!
Exactly, you're right. The 1$ range will definitely be exciting I think in the next one or two months, we'll get there.