SHOULD BUY BITCOIN AT THIS TIME?
“Bitcoin is digital gold; Bitcoin will become ubiquitous & the currency's trend of the future. Bitcoin price will rise> $ 100,000 in the near future, and reach $ 500,000 in the further future. "
Well, those are other people's words about Bitcoin or Crypto market in #uptrend like this, not me!
In my opinion, the financial investment market has never been easy, especially for newcomers. And it is these new people who will continue to be "sheared" in the future. Tens, hundreds of billions of dollars will continue to flow into the pockets of the group "sharks".
Psychology of new investors entering the crypto & bitcoin market?
Try to reconsider a little bit! Stay awake & real estate
- From the last uptrend (period 2017) until now, it has been 3 years. This is also a long enough time for the "shark" group to gather goods and make the "fry" investors exhausted and depressed to sell most of them. At this stage, how many people keep Bitcoin up to date? This is also a long enough time for new investors to appear, to work, and to accumulate a large amount of cash to pour into the market.
- In addition, the majority of investors when holding bitcoin, when they started uptrend again, the price reached the threshold of 15k, and 20k, most of them took profit. Because Psychology feared it would fall back, or some bad news was released for the group "sharks" to continue gathering. Very few people are sober enough to hold for long except the group controlling & being marketed by the news.
- With new investors, when buying, they will start reading the news & follow more. Initially only buy with 5-10% of the property, but because they find it "EASY TO EAT" and want higher profits, they will continue to LAY 100% of the assets, even LENDING MORE & DRAWING FRIENDS to join the game. play this. Usually, this new group of people will have NO KEY POINTS, ie they want to hold 5-10 years long term. However, if the market downtrend, flooded with bad news, this group will certainly not be strong enough to hold a long-term mentality and quickly cut loss.
"The crowd" often wants FAST MONEY, HIGH PROFIT. Nobody wants to invest in any channel & wait 5-10 years (except those who go to jail or have died because they cannot trade. 😃)
Talking more about this uptrend, most of the money is poured into Bitcoin, from which ~ 10 altcoins top floor is distributed. These are also the coins with the HIGHEST Liquidity, the group of "sharks" often focuses on these coins to easily BUY & SELL in large quantities.
Crypto, stock & real estate market cycles
The same is true of the PERFORMANCE of the Crypto market or other markets such as stocks, real estate, gold, ...
- There will be great cycles (3 years, 5 years, 10 years, 15 years, ...). With a very strong & clear level up / down margin when we look back at history.
Along with that are small cycles (a few days, months, or 1-2 years). In this small cycle, professional traders & a group of investors "sharks" will also "swallow" a lot of "baby fish" (a group of new investors & lack of knowledge traders).
Comment on Bitcoin price in the future 2021
In my opinion, the Crypto market in general & Bitcoin price can continue to increase in the near future, how much and how long can no one predict. If you guess correctly, it is also because of "lucky", 10 people "guillotines" then 1-2 people are right. And we often have the mentality of looking at cases that predict correctly & trust them. But remember: "don't trust any expert in the financial investment market". Professionals are also people who lose MONEY easily because they get caught up in the whirlwind of new news every day & make the wrong decisions.
In the current uptrend, there will be a lot of good news that makes us fidgety & easy to enter the market. And when the NEW AMOUNT (from the new investor) is large enough, the time will come to "shear".
Just a few bad news or something seems serious, it can completely "FLASH" hundreds of billions of dollars in just a few hours, the value can drop 30%, 50%, even 80-90%. And the majority of new investors losing money have to wait 3-5 years to see the next cycle of growth. And it is NOT sure that the coins you hold today will be recovered, it could become a "junk coin" losing 95% of their value & never going back to the old price. And new coins, "interesting new stories are drawn" to attract new investors in the future & continue to "trim".
Crypto & Bitcoin market advice
- Do not expect to make money fast, make money easy & do nothing!
- Should focus on INCREASING LABOR VALUE, focus on current jobs to make better money. (For example, you are earning 50 million / month, make more effort to earn 200 million / month). This is definitely still easier than you spend 1 billion and earn x2-3 times in the financial market! (Trust me!)
- Focus on PROPERTY (with more capital), accumulate money so that in the future you can buy REAL ESTATE of use, GOOD STOCK, ... (at the right stage, not quite now). Instead of wanting to invest and make a profit with a small capital & high-profit margin.
- Don't be anxious about case studies that make millions of dollars for other people. This group, when #show, either has a certain purpose or is just lying! (Don't let yourself get caught up in those case studies)
- Other experts may advise you to only invest 10-20% of your idle money & accept losing in the crypto market. But I know it's very easy to get caught up in the market with that small amount of capital initially, so it's best to DON'T JOIN AND LOSE TIME FOR IT.
- If someone has invested & earned money easily, make a few hundred million, a few billion just in a short time. (Remember, if you haven't taken profits, it's not a profit yet.) And do not think everything is "pink" & easy, let face the challenges