Im a firm believer in the crypto space being a great long term investment and i think we will reach huge ATHs again...but...NOT YET.
Look at this huge . Look at the price points forming lower highs and lower lows. Every bounce has caused an influx of analysis, people flooding in thinking this is it, we are on a bull run. The Crypto meetings, chinese new year, end of tax year, end of future expirations...oh look well be flying here again. But it was never meant to be. This is where the zoomed out picture is valuable, its clear for me but is it clear for you?
My opinion is we will not suceed in valuable growth until we have reached our bottom. We have seen reversals but this is how markets behave, they move up and down but until the end goal is reached it will not reach another peak. There is huge things to come but for institutional money, for young starters, for new investors we will need to reach new lows before we suceed again. How many people have been deterred from trading, i almost gave up myself, how many dips have damaged and broken so many, this is the bear plan....get rid of what they can and then when it rises there wont be as many left to benefit. Look at the news thats been surrounding coins like XRP, XLM -2.41% , EOS and they have all showed signs of huge growth but its dictator has yet to push on and until then we will not suceed. Almost all crpytos follow the same trend, the same pattern, the same wave, one might grow a few % more than another but overall the picture is the same (except ZRX/ GNT / TRX who have had a bit of their own life recently). Forget the news, forget rumours, it will all happen but the bears need to finish their meal before the bulls are back.
I know people dont like to hear prices will drop, but look whether you like my opinion or not its always advisory when theirs no clear direction be a neutral dont think youre going to lose because if you dont trade you arent losing anything. My strategy, save for a few months, come July/August and these prices are almost reached get in at low levels and then sit back and enjoy the show. Dont follow what people want you to, you can always find a way to agree with someone if thats what you want to hear but unless youre swing or day trading why waste your time trying to make short bucks when this is all about a future investment. Dont make my mistakes.
I hope you enjoy the read, if you agree give it a thumbs up.
As always criticism and feedback is welcome, many thanks