D. Trump Speech affect in Crypto Market (Buy the rumour, Sell the news"!)
Bitcoin 2024 Nashville event was probably one of the most anticipated event of this year. Almost every big hot shots of Crypto were present in the event. If I am being honest, I was excited like others about this event. Moreover, the recent interest of Donald Trump about Bitcoin is indeed making an impact in the crypto market. Multiple events took place regarding this event.
"Buy the rumour, sell the news"! = (Buy the rumor, sell the news" is a popular saying in the trading world, reflecting a strategy where traders buy an asset based on anticipation of upcoming news and sell once the news is released.).
"Buy the rumour, sell the news"! = (Buy the rumor, sell the news" is a popular saying in the trading world, reflecting a strategy where traders buy an asset based on anticipation of upcoming news and sell once the news is released.).If you are in cryptocurrency space for some time, you must have heard about the above phrase. If so, than you must have taken the hint of this event and booked some profit off of your trades. And if you have not, than let get little deep out in here.
Sine cryptocurrency can not be regulated or to be more precise it is quite impossible to stop trading from the chain. As blockchain network is impossible to halt unless there is no miners or nodes being operated for the respective tokens. In addition, crypto can be traded from anywhere and anyone can be one of those traders. Which makes it one of most unique and precious invention of the century. Thus any news from across the world regarding BITCOIN or Cryptocurrency have a huge impact in the price of the coins. May that it be BTC, Meme coins or any other altcoins.
With the recent event in Nashville the same event took place. The world knew a big event is coming up and almost everyone were aware about the fact, that Donald Trump is going to share some positive news regarding Bitcoin and overall cryptocurrency market. Which would take the market in an uptrend. It does not matter how high we go but it was almost certain that we are going for a ride and that even in an uptrend.
This is where two types of traders comes into play. At first the ones who knew this event will make a positive impact and bought their favorite tokens/coins when they were low few days back. Now this would be an opportunity for them to get rid of those tokens/coins and make some quick profits out of their trades. While there is the other group who would get into buying those coins in FOMO. And we all know what happened once the event was over and how the coins took the liquidity from its higher highs and eventually came back down. Now there are three ways to handle the situation for second type of traders :
- Sell the coins in a loss and take what the market offers
- Hold the coins in anticipation of them coming back up
- DCA and do some extra profits
The current situation of crypto market is very volatile. But once we see the big game that will arrive in the coming months, choosing the third option does seems to be the best for a trader at the moment. At least, this is what I am doing at the moment.
FACTS
- Not everyone knows about Crypto
- Those who are aware and are in this space they are printing money (Of course not everyone, as if that happens this would have been GENIE of Aladdin type situation)
- Those who will know about BITCOIN and CRYPTOCURRENCY due to this type of events or influential people, they will try to know about this space and possibly Invest out in here in FOMO. Thus ADOPTION happens! Price goes up
- Those who bought at low price, ultimately they will exit. And the cycle will keep on going. Higher highs will be achieved and lower lows will be seen as well.
This is not a hidden fact, if Donald trump gets to be elected as the next President of United States of America, he will pursue Bitcoin and try to do something for this space. Now, since we are talking about politicians only they and GOD knows what's going on in their mind. So that topic is something else to discuss about! Although, this is the truth that Bitcoin and overall cryptocurrency market is getting a hell of an exposure and no wonder the GOLDEN days of this space is arriving very soon.
Better do not fall in any types of trap or FOMO in anywhere. Instead DYOR and only invest that much that you can afford to loose. As this market is critical and it can engulf your life savings without even blinking. Be safe and see you at the top!
Best regards
Rehan
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