The crypto market shows signs of stability at over $1.5 trillion of total market capitalization and we can also see a reversal trend starting to take shape after Bitcoin seems to have bottomed at $44,000. Funny how Bitcoin has managed to get from $5000 to $50,000 in less than a year and the value of one BTC back in March 2020 to be the fluctuation value of BTC in one day.
We haven't seen volatility yet, I'd say. I know it's almost a year since the halving has occurred and that's the main catalyst for the crypto bull market, but it feels like we're still warming up. There are all sort of big names in the world announcing their crypto implications and $50,000 per coin is not something to overlook.
We haven't seen volatility yet on the market. So far it's been quite a steady rise and it feels more like walking our ways towards the top of a hill rather than escalading a mountain with not the best equipment in the world and on an empty stomach.
The ones that have been part of this space for more than four years know what I'm talking about and they can agree with me that during the mad times of a bull market, if played correctly, you can make more money in just one month than you could have made in four years of correction and trend reversal. You just need to be mentally prepared.
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Why mentally prepared?
Because right now it's pretty easy to do TA, zoom out and look at past performance, try and forecast where the price of one token could peak and make yourself a plan on how to make the most during this bull market, but in the middle of the storm everything can get blown away and no strategy seems to be valid anymore.
It's gonna be like fireworks and it's quite hard to chase and catch the lights of such events. I remember the past bull market, right around the peak, that getting distracted from any strategy and falling for all sort of pumps and dumps, topped out rallies, and refusing to see the end of the road for the cycle was part of my experience.
I still believe that swinging from one crypto to another, not using your entire portfolio of course, when the storm will come, might probably triple ones revenues, but you have to be mentally prepared and have the strategy on your table and stick to the plan no matter what. I'd say sticking to the plan no matter what will weigh hard on the profits one can make from this market.
It would be a pity to not profit from such assets. DCA seems to be the best strategy, but you need a plan for that too, and the mental clarity to stay with it. Near the peak times can suck you in like a vortex and before you know it you've swing from one trade to another, or refuse to believe that the top occurred two or three weeks before, and end up with pennies in profits or even get out of the market on a loss.
Getting mentally prepared and studying your attitude even on small pumps, seeing your strength and weaknesses, while creating a plan before we hit massive volatility and mass euphoria, would come at hand. I've missed one bull market back in 2017 and don't plan on missing another. I'm probably not gonna nail the top, but I do have a plan to make the most and getting mentally prepared, months before, for that blow off top is a must.
What about you, are you mentally prepared for one of the biggest bull markets in the history of crypto and do you have any strategy to get out on max profits?
Thanks for attention,
Adrian
