Distractions Toll During the Bull Market

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Nobody likes a bear market, right? Well, maybe except traders who prefer shorting, as many as they are in crypto that haven't been badly burned doing that.

But how about bull market? Everybody loves it, of course.

And everyone has some successful stories during the bull market.

In its latest stage, euphoria is omnipresent and many forget a simple rule in investing, to protect your profits. It happened to me, and I'm sure it happened to many others in the space.

But this is not what I want to talk about in this post.

There is another toll bull market often takes, and in the crypto space it's quite frequent.

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Jumping from project to project in the hope to either remove the dead times coins have in their growth, or to move to a coin with a higher growth rate, or in the hope to find a hidden gem that will x1000 in the future is something many practice in the crypto world.

To some extent so do I, but when I catch myself going in too many directions, I now find the power to say stop. Something that I didn't practice much in the past, to my own detriment.

During the bull runs there will be plenty of distractions pulling you in their directions. And I don't mean scams. Legit opportunities are simply too many for one person to handle coherently.

So I believe focus is the key. It's always a decisive factor in our performance, but during periods with an increased amount of distractions and as decisions may become more emotional rather than logical, focus may prevent us from going in a spiral of mistakes, by avoiding to get involved with (too) many things at once.

That's what I'll keep doing, even if we have so many great opportunities in the crypto space. I'll focus! Maybe to a lesser extent in the Hive ecosystem, particularly Hive-Engine tokens.

But even there, every once in a while I clean up the tokens I believe I won't focus on. That might cost me and opportunity like the next LEO. :) Because I initially sold the tokens from the airdrop only to buy back more of them at a later date and a higher price, but luckily before exploding.

Anyway, I came to the conclusion that the best time to find hidden gems is not during the bull run, but during the bear market, when many are depressed, prices are way lower and spotlights are turned off. So, we should love the bear market too after all.

But do we do that? I'll try to follow my own advice in the future.

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13 comments
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Wise words that should resonate in many of us. How many BTC have we bought at 4000$ ?
Don’t we spend more now chasing a rising price ? ;)
We should love bear runs as much as bear runs. Truth is we should know better cycles and take full advantage of it.

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We can't help it, we are emotional creatures. Fundamentals help, systems help, TA helps, but in the end, every decision is emotional, even when it's justified logically.

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Very true, trading emotionless is the most difficult part to acquire for a trader usually. We always think of a “good” reason for doing/not doing something.

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Targets need to be set and if reached then follow a new opportunity. I missed many on the way, but this is life, I missed Elrond when my friends have been buying it in bulks, two of them hitting the moon. I'm hoping this to be done in my universe with Hive and LEO. This is where most of my crypto is (beside the BTC for my kid).

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(Edited)

I missed Elrond

I can say the same, even though at some point I looked at the project and liked it and the team behind it.

But we can't live with regrets.

The time of Hive and LEO will come, almost sure of that.

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I have here the same view. I'm accumulating some small portions in other projects outside the chain, like AVA as I travel over 6 months/year and the discount it offers will help me a lot and ADA as a top10 project.

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I remember you mentioned you bought ADA a while ago. I think it was before it took off. I chose XMR around the time.

Neither of us was wrong apparently. But in bull market, it's hard to be wrong if you are consistent. :)

AVA is an interesting coin, especially if you want the bonuses. And if tourism recovers, probably you will have a nice increase in its value.

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Jumping from project to project in the hope to either remove the dead times coins have in their growth, or to move to a coin with a higher growth rate, or in the hope to find a hidden gem that will x1000 in the future is something many practice in the crypto world.

The biggest mistake to do that in a bull market. I know it from my own experience. Buying during the bear market and holding is the best strategy. Long the bull market, short the bear market, this way you can make money in crypto all the time.

One has to learn somehow though and the best lessons are the ones learned on your own.

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I know it from my own experience.

So do I, but not this time around. At least one thing I learned already.

short the bear market

This can be nerve wrecking.

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Not really. I'm thinking to buy myself some bear tokens on Poloniex once the mania phase blows off. I already play with the bull. It's some sort of a 3x long or short, but not exactly. I would for sure start betting against the market as of next year.

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I don't know exactly how these tokens work on Poloniex, but if you buy bear tokens and the bull keeps going for a few more months, can you sustain it?

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You just leave them for when it gets bearish. At some point the market will heard south.

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