Four Strategies That Will Help You In A Bull Market
There is little or no doubt that we are in the bull market, a cycle that comes once in four years following each Bitcoin halving. From all indications, this is just the very beginning of greater things to come.
Nevertheless, a bull market does not mean that everyone will make money ─ in fact, many investors will still lose money. It is the reason for which you need to be very strategic. In this article, I share with you four strategies that will help you make profit during this bull market.
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1. Pick A Few Crypto Assets That Have Strong Fundamentals And Stick By Them
The first strategy here will require you to pick very few crypto assets that have very strong fundamentals and stick by them for the entire bull market. In a bull market, there will be noise here and there about a coin being the next Ethereum or Bitcoin but stick to your own game.
Otherwise, you will likely lose money jumping from one coin to the other. That can happen even in a bull market. Always remember that in a bull market, the cake has a very high chance of going round, so stop chasing it.
2. Avoid Trading, If Possible. Bull Market Is For Holdlers
Research has shown that most crypto traders lose money, big money. You can trade if you are very confident about your trading skills. But then, holdlers have proven to be the biggest gainers in a bull market.
Therefore, you should have hodling as your key strategy during the bull market so that you don’t miss out of the parabolic price actions.
3. Buy When There Is Blood On the Street
Although we are in a bull market, this does not mean that the market will not at some point suffer losses. Avoid buying the top of the market no matter what the sentiments or hype about the coin could be. Dare to buy when the market enters some level of panic mode, which will inevitably happen. This will put you at great advantage and then wait for your piece of cake.
4. Take Profit. Don’t Get Greedy
The biggest illusion during a bull market is the assumption that prices will keep going up and up and will never come down. Many persons have, in previous bull cycles, seen a tiny investment of $500 turn into $10,000 and they felt that it will continue that way forever. And before they could say Jack Robinson, the money had reduced to $20. Don’t be caught in the entangling web of greed.
The ultimate goal ought not to be selling at the pinnacle of the market but at reasonable prices. It is left for you to decide what is reasonable but don’t get greedy. Take profit; that could be the best decision of your life once the horror of the bear market unleashes.
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