I don't know if you've noticed, but there's been a shift in the crypto vibe lately. We seem to have transitioned from a bearish to a bullish sentiment, all thanks to Ripple "partially winning" the case against the SEC. However, not everyone is convinced that this is a full-blown bull market just yet...
In my opinion, we're currently experiencing a "failed rally" market phase. BTC has failed, for now, to break through the $31k resistance level, and altcoins aren't exactly setting off fireworks. Personally, I wasn't expecting anything too spectacular at this point.
I believe the real show will kick off sometime in late 2024, although in the world of crypto, nothing is certain.
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Let's talk about the three types of crypto market participants I'm aware of in this #askleo post: the investor, the HODLer, and the trader.
I've personally encountered individuals who trade their entire portfolio—I used to be one of them at some point—and I must say that this strategy isn't very productive. I have a friend who does it with leverage, but the risks are high.
Then there are the HODLers—those who buy crypto, particularly Bitcoin, and refuse to ever sell. These hardcore believers often have a funny approach, preferring to hold onto their crypto assets instead of spending them, remaining completely outside the traditional financial system.
Lastly, we have the category of investors, which is where I believe I belong. These individuals buy when prices are low and sell when everything is skyrocketing. They have a well-executed plan, regardless of whether it takes two months or three months to achieve their targets.
Now, you might be wondering which strategy is the best. Personally, I believe being an investor pays off in the long term, but it's crucial to be a skilled one who maximizes profits during bull markets and knows when to buy the fear during bear markets.
I recall reading that investors often outperform traders, and as for HODLing, there are only a few coins that I would hold onto for years, like BTC, HIVE, and a handful of others. For the rest, particularly the riskier shitcoins, HODLing can be quite risky.
So, what about you? What type of crypto market participant are you?
Thanks for your attention,
Adrian
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Definitely a HODL-er with crypto. I can't figure out the moves in crypto unlike forex, stocks or gold. Buying and holding BTC and ETH has worked out so far.
That's great.
I identify myself in the 3 categories. I love trading but only with small quantities
How's scalping lately?
It’s going well, I keep my budget while buying BTC with the profits
Hey there Ace, I started as a trader and learned the ropes of TA. It was fun and very exciting but stressful and time consuming. Now I accumulate and am an investor, aiming to take profit in late 2025 at the peak of the bull market cycle.
BTC is already up 100% this year from the $16k lows so the bull market cycle has begun. However, as you say, the alts are lagging. It's the very early days of the bull market, though towards and post BTC halving in April 2024 should trigger better bullish momentum.
I started out in late 2017, seeing the peak of the bull cycle then, as well as the one in 2021, which caught a lot of us out as we were waiting for $100k BTC which failed to materialize. Hopefully this time will be better.
I started in 2017 as well. The plan remains the same, take profits once targets are met. Good luck!
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I would say I'm a investor
Same here.