Beginning Of A World Of Hurt
Trading Bitcoin had a nice run in 2017, but everyone who came in during January 2018, pretty much got screwed over in one of the worst Bitcoin crashes in its history. Every day was a new day of lows, crushing portfolios and buyer’s confidence.
What We Are Afraid Of
Everyone who went through January suffered losses. So what happened next? Fear creeps in, and traders and investors became skeptical of the market. We were afraid of losing more, so when Bitcoin climbed up from $6,000, we sat along the lines believing the prices would drop even further. With news pointing towards a Bitcoin drop to $4000 (lol, who’s going to bother mining?), and when prices started to climb, people were still in denial.
Did Bitcoin fail us? Was it really a bubble? Hmmm, maybe. But look at how the market is making a comeback now.
The Impact Of The Bitcoin Crash
With a market volatility looking this nuts, the crash sure messed with our heads. Mindsets were shifted, and for the past two weeks it looked like it may enter another downtrend or uptrend (Geez, Bitcoin make up your mind already.)
When The Market Is Irrational, You’re Trading Against Human Emotions
Analysis and logic sometimes don’t work in erratic periods of the market. We are trading against human emotions. In times like these when in doubt, trust yourself. Read up on potential big projects and upcoming events might just be the best way to make a call.
When your gut feel tells you a coin has good news, you’re might probably be right. Because you aren’t trading against numbers, you’re trading against people’s thoughts and feelings. When everyone is thinking of selling in fear of a dip, it is actually the best opportunity to buy into a potential coin.
“Be fearful when others are greedy and greedy when others are fearful.” – Warren Buffet