The massive appreciation of Bitcoin (BTC) and some altcoins leaves cryptocurrency investors afraid of missing out on opportunities.
In such a scenario, it is normal for younger people in the crypto market to make mistakes.
In this way, several traders are giving tips on Twitter on how to behave during the bull run.
Control Greed
Su Zhu is CEO of Three Arrows Capital and a contributor to the exchange Deribit.
On Monday (23), Zhu gave advice to the most greedy and flustered investors:
This is the part of the market where your coin is up 13% but you wish it was up 17%.
Resist the urge to excessively rebalance. In a bull market nobody can predict where the animal spirits go next.
Hold your high conviction bets and go max long at the beginning of the move.
– Su Zhu (@zhusu) November 24, 2020
“This is the time in the market when your cryptocurrency is up 13%, but you would like it to be 17%.
Resist the urge to over-balance your portfolio. In a bull market, no one can predict where cryptocurrencies will go.
Stay firm on your bets and invest for the long term at the beginning of the price movement. ”
In addition, other traders addressed a topic feared by investors: price corrections.
No hand lettuce
The trader known on Twitter as Alejandro also gave tips to newer traders.
He defended:
You have to understand one thing:
In all bullish trends there are pullbacks
You have to identify if you are in a bullish trend or not
Do not expect to buy something and do not see drops until you final target
– Alejandro #BTC 30K 💰 (@ Pastore1314) November 23, 2020
“You need to understand one thing: in upward trends, there are corrections.
You need to identify whether you are in an upward trend or not.
Don’t expect to buy something and don’t experience falls until the final mark. ”
Who also spoke on Twitter about dealing with losses was the experienced trader Loma.
Too many people obsessed with not taking an ‘L’.
Idk who needs to hear this but listen, you ride this fucking move up.
Accept that you’re going to get fucked when this ride inevitably stops. And when that fucking MS breaks, you sell the bounce.
Selling the top is overrated.
– Loma (@LomahCrypto) November 24, 2020
“Several people are obsessed with not taking losses.
I don’t know who needs to hear this, but look: you ride that rocket to the top.
Accept that you are going to get screwed when this trip inevitably ends. And when that movement ends, you sell on the first recovery.
Selling at the top is overrated. ”
Finally, there is always a different way of interpreting corrections in upward trends.
As the technical analyst CryptoBirb recommended:
It’s buy the dip season
– CRYPTO₿IRB (@crypto_birb) November 24, 2020
“It’s time to buy in corrections.”
In short, it is important to remain calm and not despair during corrections.
Accompanying experienced traders and analysts can be a good idea in order to gauge whether or not it is time to liquidate positions.
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