I see a lot of trend analysis on this site that focuses on 4hr time frames, or 1hr time frames, or *cringes* even 1 minute time frames.
These analyses are meaningless because they don't account for the greater trend path of BTC and the crypto market. Things are going to get bigger, not smaller.
Check the projects you are in, do you think they will be around in the future, do they have reason to continue existing?
If you really want to make long term money in this market, you need to learn from your mistakes, I made thousands this year YOLOing into things in DeFi, only to have all that become unrealized gains due to a single bad trade.
Where did I go wrong?
I forgot the fundamentals of trading in a volatile, emerging, but rapidly growing market
1. Follow the trend
2. Only invest in projects that actually have a long term future
3. Yes it really is a popularity contest
People meme on SHIB and DOGE and the GameFi coins all the time, but the thing is, these are going to become the future of crypto. No average person cares what the fundamentals of the underlying blockchain are, they don't care how much faster the hashrate or confirmation time is, all they care about is one thing what can they actually do with that coin
SHIB has a DeFi swap you can farm yield on, so what can you actually do with SHIB? Earn passive income
DOGE has a fast and relatively cheap transaction network, but its biggest strength is its sense of community, if you invest in DOGE you feel like you are part of something, and that means a lot to investors
GameFi anything GameFi will be massive if its built by a solid team, don't believe me, check this out: www.investopedia.com...ndustry-changing.asp
The video game industry is expanding at a rapid pace, it is not getting smaller. $155 billion in revenue in 2020 and expected to expand in the coming decade.
I don't know why people think these coins are a joke For years we have spoken of mass adoption coming, and now that we are on the cusp of it, people complain that popular fun coins become real investment opportunities? It doesn't make any sense to me.
My trend analysis is based on one thing only, the long term greater trend of BTC. Anyone thinking it dumps to 20,000 from here is just in panic mode.
Learn from my mistake, and probably yours too; stop thinking short term. Think longer, and don't forget to actually take profit. If you find yourself thinking 'but what if it goes higher' - the second you think that - sell sell sell Anyone reading this lets agree now we never FOMO ourselves out of gains at the top of a pump.
Patience is key.
These analyses are meaningless because they don't account for the greater trend path of BTC and the crypto market. Things are going to get bigger, not smaller.
Check the projects you are in, do you think they will be around in the future, do they have reason to continue existing?
If you really want to make long term money in this market, you need to learn from your mistakes, I made thousands this year YOLOing into things in DeFi, only to have all that become unrealized gains due to a single bad trade.
Where did I go wrong?
I forgot the fundamentals of trading in a volatile, emerging, but rapidly growing market
1. Follow the trend
2. Only invest in projects that actually have a long term future
3. Yes it really is a popularity contest
People meme on SHIB and DOGE and the GameFi coins all the time, but the thing is, these are going to become the future of crypto. No average person cares what the fundamentals of the underlying blockchain are, they don't care how much faster the hashrate or confirmation time is, all they care about is one thing what can they actually do with that coin
SHIB has a DeFi swap you can farm yield on, so what can you actually do with SHIB? Earn passive income
DOGE has a fast and relatively cheap transaction network, but its biggest strength is its sense of community, if you invest in DOGE you feel like you are part of something, and that means a lot to investors
GameFi anything GameFi will be massive if its built by a solid team, don't believe me, check this out: www.investopedia.com...ndustry-changing.asp
The video game industry is expanding at a rapid pace, it is not getting smaller. $155 billion in revenue in 2020 and expected to expand in the coming decade.
I don't know why people think these coins are a joke For years we have spoken of mass adoption coming, and now that we are on the cusp of it, people complain that popular fun coins become real investment opportunities? It doesn't make any sense to me.
My trend analysis is based on one thing only, the long term greater trend of BTC. Anyone thinking it dumps to 20,000 from here is just in panic mode.
Learn from my mistake, and probably yours too; stop thinking short term. Think longer, and don't forget to actually take profit. If you find yourself thinking 'but what if it goes higher' - the second you think that - sell sell sell Anyone reading this lets agree now we never FOMO ourselves out of gains at the top of a pump.
Patience is key.