Disclaimer: This is my own opinion and not financial advice.
What a wonderful YTD it has been so far for the crypto market I believe we are out of the crypto winter but also I want you to watch out for FOMO and at least think a second time before you take out a loan and buy more cryptos :D.
I want to share with you a historical graph of Bitcoin's weekly chart. I think we are seeing similarities to 2019 when the market finally started getting out of the previous crypto winter, but as you can notice after a small bull run it saw a long period of mixed and even falling market. Looking at today we see Bitcoin's price hitting the upper BB band and also RSI of 70 for the first time since 2021, while On Balance Volume (bottom chart) is growing but is not at a new 2023 peak.
My point is if you have $10K right now and you want to put it into cryptos, I would do it incrementally as the market might see consolidation. There are a lot of bulls right now, which you should take as a sign of caution.
9 thoughts on “Don’t FOMO”
just invest in 2-3 coins you believe in and leave it for a few years
That completely depends on risks willing to take an personal views. The things I am buying now I highly doubt they will fluctaute much at all towards a lower price.
But I want it so bad!
I sold out yesterday. Trying to be a little extra cautious this time around. Last time I got too greedy and caught up with all the 5x/10x/100x nonsense and held for too long.
Good advice. I feel like this is why we see people harping about DCA so much. It protects you from yourself. It took me a few bad reactionary investments to realize how well DCA works.
I dont think that shilling cryptos is good idea currently, especially bitcoin, ive made most of my money from btc but now? Wouldnt touch it with a ten foot pole, especially because the price is so high currently and you dont want to buy at the peak when theres lots of pressure on crypto brokers etc.
I will make a small purchase to bring the market down
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