Proof of Brain

My Learnings From The Bull Market So Far

With the excitement of the Bitcoin ETF launch behind us, I thought it would be a good time to reflect on the bull market so far and share some of my thoughts. I am also tired of the ETF launch and narrative, it is a relief that it is finally over.

I think crypto twitter was divided whether it would be a buy the news or a sell the news event, but in the end, it looked like people were taking some profits and the liquidation of the Grayscale bagholders turned it into a more selling event when we finally got a decent sized dip which I think was just around 14%. Still nothing so huge yet. Very interestingly we also got a nice ETH pump, so maybe people are now betting on the ETH ETF, or it could just be just people rotating out of SOL as it has also dropped a little. After such a run-up, it is sure healthy for both Bitcoin and SOL to have a pullback.

After a great year for Bitcoin, I was thinking it would be a buy the news event and we might see another god candle, but even with the dip it could be a buy the news event and a chance to get some cheap sats.

Bitcoin

The first thing I have learnt so far in this market is that with alts being crushed, it seems Bitcoin dominance is very important each cycle and with its ability to hold value against other cryptos and alts. Therefore, does it make sense to hold more Bitcoin than alts?

Old News

The other thing is that so far, the bull market likes shiney new things and narratives of future possibilities. Therefore, if you have a token that was around in the last bull market without any development, it hasn't really done anything so far. To continue to believe in these tokens requires plenty of hopium.

Time To Change

Even if you have missed out on some of the early hyped tokens, there is still plenty of time to swap your bag about and find something that is more likely to give some returns.

Getting Excited

Bull markets are fun times and it is easy to get wrapped up in the excitement and not stick to your goals or plan. Therefore, I have tried to make sure that I try and keep my feet on the ground and do not believe the hype and high expectations of every token or project.

ETH Fees

ETH fees still suck and there are plenty of probably good projects that are failing because they decide to use ETH. With the rise of Solana, the market is signalling it wants lower fees to transact. It will be interesting to see how this will affect ETH in the rest of this cycle. Not only that, Metamask sucks and there are so many scams focused on ETH.

Staying Focused

With lots of news and hype flying around, it can be tempting to try and get in on every possible future great token. This might be a successful strategy if you think of it as a numbers game, but it is a lot of work and hard to monitor and manage. I have found it better to be focused in just a couple of areas and follow things more closely that you are interested in and back something you have a conviction on than taking a scatter-gun approach.

Distractions

Staying with focus, I also see there are lots of projects and tokens being hyped and offering crumbs which can distract you from where your focus should be. The focus should be to be ignoring picking up crumbs when there are better returns on offer and to use your time as productively as possible.

Summary

We still have another 2 years of this bull market and it is important to try and play it right. I am sure this is what we try to do each time and increase our bag more than since the last time.

This is why I try to keep learning and having the best information available. I know some of my weaknesses and am not the smartest person out there, but by being proactive and thinking logically, I try to do the best with what I am given.

Things are always changing and what I thought I knew a year ago is now no longer true and be ready to adapt to changes such as new narratives and ditching my old wrong ideas and habits are important.

What have been your learnings from the bull market so far?

Thanks for reading.

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Comments · 19

@hive-lu(65)· 955d
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@hoosie(75)· 959d
Its a pretty interesting one this time around. The institutional investors will only be interested in BTC (and maybe ETH) and hence they are doing well, and as such is the bull market just confined to those ? Its not like last time round where everything went up and down with BTC.
Its hard to call.
@hafiz34(70)· 961d

Things are always changing and what I thought I knew a year ago is now no longer true be ready to adapt to changes

That's the gist. We need to be updated constantly. Thanks for sharing your thoughts. I am a layman here. So, I got some ideas about the new events in the crypto market from your post.

Stay safe, Steve!

#aliveandthriving

!PIZZA
@tydynrain(74)· 962d
While I do look forward to seeing how the BTC Spot ETF approval and this bull cycle affect the greater crypto market, and of course Hive and its assets, I'll pretty much just keep doing what I'm doing! My only interests in the crypto world, for the most part, are coins that are part of sovereignty-driven blockchains, like HIVE and HBD of course, as well as QORT from Qortal, PKOIN from Bastyon, HOT/HOLO from Holochain, and KOIN from Koinos. I'm still slowly building my holding of SWAP.BTC here on Hive via the SWAP.BTC:POB diesel/liquidity pool, which pays out in BTC every day. 😁 🙏 💚 ✨ 🤙
@pazartesi(61)· 962d
Ethereum gas fee is the most frustrating thing to me in crypto. It is a shame that a project so large can still have so much gas fee
@revolverocelotyt(61)· 962d

ETH fees still suck and there are plenty of probably good projects that are failing because they decide to use ETH.

Yes its gasoline fee is always too high.
@takhar(72)· 962d
Times have indeed change and we need to adapt to it to thrive in the bull run. What I've learned so far is that it's easier to get distracted than ever before, there a lot of shiny new projects coming out. But my plan is to focused more on established or semi established projects.
@costanza(78)· 962d
I'm pretty much in a similar camp, just staying focused and grinding it out trying to stay up to date as much as possible. The logical approach isn't aways the best in crypto though to find the coins that pump the most. It's so hard to make sense of many of the valuations.

Good luck this bull run! Basically, it only takes 1 or 2 major winners to hold onto.
@amazingdrinks(70)· 962d
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@shawnnft(75)· 962d

We still have another 2 years of this bull market and it is important to try and play it right.

is it 2 years how u so sure O.O. by the way u can check out this game called champions tcg the people gave me gems to buy the packs so nice
@rafzat(71)· 962d
I know so many people who have lost a lot of money because of the news and they bought BTC when the price got to its peak It is likely for the price to come back up though
@digi-me(78)· 962d
Nice post!

What have been your learnings from the bull market so far?

Should have taken more profit in previous cycle, got to greedy and held bags all the way down again haha
@travoved(68)· 962d
Ohh yeahh eth fees are really big. But just couple days ago when we were trying to transfer my mates runi from one account to the side one we could keep just nearly 3$ fee if to be more clear 2.86 if I'm not wrong. But anyway it's big. If to talk about Solana I see many people try to put their eyes on it. And among my friends it becomes really well known trend.
@thebighigg(78)· 962d
People of course sell on the news... But things will bounce back, so many people are so short on patience. It was easier before day traders got involved, they really make things less stable. In the next six months we should see a nice rise in those charts (or at least I hope!)
@aliveandthriving(68)· 962d
Great post @mypathtofire like all markets crypto is subject to trends, market manipulation, disassters and 1000's of other differrent ways price can be effected in some way. Focus is key with building successful portfolios, investing and focusing on tried and tested tokens will be the best in long term returns. Still a young market as well. Have the best weekend Made in Canva !ALIVE

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@skiptvads(74)· 962d
Staying focus for me is the most important, staying focus keeps me out of getting excited, target in mind without thinking about the price, its better if my plan fails following the plan than failing without a plan, everything else is just noise ✌️
@amakauz(67)· 962d
Staying focused and also having the ability to determine those coins that offer better value and returns than those offering crumbs is the right was to go. The excitement of the Bitcoin ETF launch will soon die down.
@josediccus(83)· 962d
A lot of people might lose their footing because of the exciting. I feel that having a solid plan whether one is banking on BTC or alts is the only way to truly gain from the bull market. I think the ETF hype will slowly fade
@skyehi(69)· 962d
Very resourceful info 🥰🥰🥰