On big moves, have patience

Hi,
the theme for today's #februaryinleo, the initiative for increasing the interaction and the quality of posts, is about big movements on the crypto market, which is under the #cryptomonday theme.

Well, on big moves, I try to not move, or in anticipation either sell when everyone is buying, or buy when the big move closes to an end. I'm a fan of the saying, that time in the market, beats timing the market, but on #crypto, the usual ideas may apply differently.

It is changing at a very fast pace, and usually the cycles are burned much faster, then the usual markets. We have also a newer and younger generation acting here, which is more focused on opportunities and not on longer waiting. We live in a very fast-paced world, and patience is a long-forgotten virtue, we have fast messaging, fast food, and fast travel. Impatience and short term vision has taken over the world. I don't say it is good or bad, it is different, and we need to adapt to it.

Holding assets for way too long, can be dangerous in the cryptoworld. This is looking at all the projects that have vanished in the past 5 years. Well, this blockchain, BTC and ETH seem to survive. There are some others, of course, but each needs to be analysed on a case by case basis.

If you are not an expert in crypto, don't act on bog moves. Usually someone has an information and is acting accordingly. Some dump the asset, and probably that person, buys it again, when a mass panic sale occurs. It happened in the past, when some bigger wallets did it, becoming way richer, just by two trades.

There are some signs that there is some movement coming, but no one can anticipate it. As with the BTC ETF, everyone expected to moon, but we got mooning, as Microstrategy needed to dump BTC. And they have been accumulating loads of it, the past years.

Don't forget about two big human emotions, fear and greed, and both are present in a big move state. These two emotions have destroyed more fortunes and families than anything else. Maybe ego and pride are more destructive, I might say.

My approach is to wait, analyse carefully what is happening and try to move close to swing, when you have to, like buying when everyone is selling, but at a lower point and sell when everyone is buying. On some coins, where staking was good, utility was present, I've sold at a 50x what the price is now. The price was increasing as crazy the first days, and on hypes everyone tries to get rich fast. If you have the means, sell. I bought the stake again at a fraction, and managed to buy something else with the gains. I'm thinking that buying at the bottom, helps the project to regain strength. As I'm not a financial analyst, and all the above is from my point of view, I would recommend checking everything before taking a decision and acting on it.

How do you see it?

This is part of the initiative #februaryinleo, where you can still participate, even if you missed the post from the start, like I did. All the details are in here and in here.

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