I wrote a post with the same title a few weeks ago, but I am about to write another one. I want to make it a series because I believe that until the third or fourth quarter, a lot of people will lose their minds and say things they might regret later.
I think it will be exciting to take a lot of screenshots to remind people, "Hey, you said something like this in January," not to berate them, but to troll them. So this is the second part of a post like this, and perhaps I will continue until part ten.
Maybe do it twice a month for five or six months, or maybe until the end of the year, God willing.
Too Bullish or Too Bearish?
So I read a conversation between two Hive users, and it was one of the funniest discussions I would seen in a long time.
So the first guy commented on the other person's post because he was concerned that the bull market had ended, but the other person informed him that, based on his own research, this was only the beginning.
However, the person asking the question refused to believe this because he was convinced that BTC had continued to dump alts, and that everything was now dead. The other person now told him to expect more "crypto is dead" narratives in the coming weeks because there could still be more dumps to complete the shakeout.
I believe this triggered a sense of despair in the person asking the question, and the subsequent conversation demonstrated how terrified he truly was.
Conviction
Many people seek conviction and validation, and when others echo or repeat their sentiment or fear back to them, it exacerbates their fear of despair.
Personally, I do not like echoing or sharing others' bullish or bearish sentiments; instead, I want to look at what is feasible and what is not, what is logical and what is possible by crypto standards. Most of the time, crypto is financial advice given by one person to another.
This is because some people want others to cherry-pick investments for them, and even when we say "not financial advice," people still follow it.
However, this is not the issue. When seeking financial advice, it is critical to consider your source, their track record, how successful their decisions have been, how impartial they have been, and how long they have been in the game.
Even if you are aware of all of these facts, you must recognize that you are making a potentially disastrous decision. Having this conviction allows you to see another person's financial advice as your own because you have decided to trust them enough.
Dilute Yourself too
However, many fake projects are launched every day, leaving people indecisive. There are numerous things to research and projects to investigate, half of which may be scams.
The market is diluted, turning this cycle into an ocean of piranhas, dogfish, crabs, and other sea creatures.
When you make the wrong decision, you are bound to fail, which is why people simply follow the financial advice of others without fully understanding that whatever happens is entirely their responsibility.
Guilt talk post bull-run
So this is why people say things like "YouTuber A asked me to sell xxxx coin and buy xxxx coin because the former will not moon but the latter will moon hard; I wish I had not listened to them".
However, it is easier to listen to someone, especially when we believe we are not competent enough to decide which coin will make us wealthy.
Because they do not want to miss out, people are jumping ship and following the trend, listening to BTC maxis' advice. It is complete chaos out there, and it can range from disturbing to amusing. The market will mess with your mind, and you will either lose or win.
In January, you may have been proven right or wrong.
Anything said right now is based on either emotional assessment or pure technical analysis. I prefer technical analysis because it is free of bias. This is not to say that TAs cannot be incorrect; it simply means that they may be more correct than personal bias or sentiment.
The world should be ended by now
The world was supposed to shut down after COVID, followed by the apocalypse, which would shut down economies and cause people to prefer physical cash over digital money. AI was supposed to destroy the job market (I'm not saying it's impossible) but we didn't implode and crypto made a nice recovery in time for 2021.
This is not to say that nothing can break the cycle; rather, trends have demonstrated resilience. When FTX collapsed, we deemed it the largest black swan event in crypto history, but now we have completely forgotten about it.
Anyone who was brave enough to load their favorite coin after that event would be in profit now, regardless of the market's state, but that is what I have been saying all along: there is no conviction in investing in something where there are bearish sentiments.
Learning as we go
As for me, I have learned a lot this cycle, and if I am fortunate enough to be here in the next cycle, I will definitely make decisions based on the knowledge I have gained.
Being knowledgeable makes you less vulnerable. The market will continue to onboard people who came during the bull, left during the bear, and returned again.
Twitter is oversaturated with fear because many people have been here but learned nothing. Nobody is immune to market manipulation, but having knowledge and information to work with allows you to take advantage of it all.
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
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
I believe we are yet to see the mother of all dips yet for this year, it will be so heartbreaking... I am done investing in outside project for now and even close my portfolio, so I will see how they play out in the end of the year .. So just like you I want to become a hive maxi now... Any small change I see now is going to my hive wallet either in hive or hbd.. I am stil keeping hive cos even if it falls I can just power it up... Hive can be my wallet for savings
I'm waiting for that dump, that last dump before we take off.
Lol even being a Hive maxi has its challenges (sometimes you just feel like you're missing out) and it's mental incapacities lol, but I believe we're (hive maxis) going to win big by the fourth quarter of the year.
Honestly when this happens then I'll probably seek out other projects, but ultimately, the aim is to bring back every potential profit back to hive in the long run.
I want to follow the footsteps and advice of my oga and bro Dwayne16
Well, it is better to miss out than to lose money instead, hive is like a home, after you are done with everything outside, come home to relax 😀
Yea he is a hive maxi too and it is working great for him
You're completely right. I rather be a Hive maxi then to lose money chasing shadows in other places. This place is more than a home, especially for me. I remember when Dewayne started buying Hive. He told me he was confident of this future of this Blockchain lol. A big Hive maxi Indeed. Man (dwanye) is about to hit it really big if we potentially get some great prices this year
He is right, and hive will shock people this year!
I am quite bullish, but more about the second part of the year, while initially I thought Q1 might be very bullish, it turned out to be a good break, as it couldn't be sustained for the entire year.
Haha, I think we've been bullish and turns out the market acts differently and it just feels like a sucker punch. I'm also looking forward to the second part of the year. If it didn't turn out that way, then probably Q4. Q4 might just be the real deal and it just feels too long already lol.
There are so many different opinions. I think it's fine to keep an open mind, but it's tough to avoid trying to look for something to validate your own opinions. The most I can say, is that you should do research and then feel confident in your results. There isn't much you can do outside of that and learning from mistakes.
Yeah, it's fine to keep an open mind. I also try to use the ideas of others to validate my conviction, but I try not to get completely sucked in because, well it's been a cycle of unpredictables.
A few days ago, I saw on X that someone was encouraging everyone to be patient and not lose faith in altseason because of the delay, and they were using screenshots from the last bull market to remind people of how some "reputed" people tweeted constantly about how that bull run was different and how there wouldn't be a run for alts.
I completely agree with this. The number of ~alt~(shit)coins this run is crazy. Pump.fun just keeps giving us more everyday, so this run, many alts won't pump. Aside the scams, even reputable projects won't pump because there just won't be enough money to go around. However, what I am optimistic about is that the memers will reinvest their pumped bags back into the alt market after BTC's run. I'm also hoping that more new money (from bystanders who initially did not believe) will flow into the market following BTC's success at the end of the cycle.
I think solid projects will do fine. The bull market has always found a way to be better than the last. At least, 2021 was bigger than 2017. I was there for the both and I can attest. So unless this cycle becomes the first where one cycle outperforms the next one. Although records are meant to be broken and the market is truly saturated, I just think smart people will find ways to key into solid projects and this is what might make the difference.
I won't be doing screenshots but I'm actually noting the various opinions off chain and on-chain of what people are predicting or what they think. I think it'll help me sieve the voices I should be paying attention to and those I shouldn't. On my end it's actually a learning curve for me and I like that we're in this current position
Lolzz the thing is to just keep your thing and pay no attention to the bullshit coming out from the market, it nealy drove me insane december and January
December and January was an exciting month.
Yeah pretty much but It was an anxiety moment for me
You're actually right, when you said.
It is important to consider this things before applying a crypto advice from someone, with this things in mind, i believe chances of regretting their financial actions would be low
People can still have all these and still be wrong but then it's better to still follow people who have an unbiased knowledge of how the market works