|
Bull! The season everyone in the crypto ecosystem has been waiting for. Even though you can make profits during the bearish phase of the market through perpetual contracts and others, the bull season is far better. The bull season seems closer than ever.
|
Over the past few weeks, the breath of life has just revisited the crypto space. This can be attributed to the recent Bitcoin ETF approval, the Bitcoin halving that is just a few weeks away, and some other factors.
Bitcoin as the mother asset of all cryptocurrencies made its all-time-high in 2021 and has fallen hard late that year, liquidating millions of USD from investors till now. Every crypto enthusiast across the world was expectantly hoping for the bull season and that seems very close now or is already with us.
With the recent break of Bitcoin above $57,000 at 4:00 am UTC today, a breath of relief/assurance spread across the ecosystem and we can say that the bull is already here. Many crypto followed the BTC price movement, making bag holders happy after a long phase of the bear season.
|
We all love those green candlesticks in this ecosystem, it's all an indication that our assets are growing due to the supportive/thriving condition of the crypto ecosystem.
In reality, we are close to a phase where $10 can easily turn to $1,000 and more, provided you built your portfolio with a good choice of assets. Are you holding bags for years? Or you are just trying to build a new portfolio, this is a time to review your investment and brace yourself for the days ahead. The impact will be massive.
Experts believe BTC is going to make it to $100,000 per unit before the end of the year but I'm afraid that may even happen before the end of Q1 of 2024. The momentum now is electrifying and we all anticipate more and more. And you know what that means for the general crypto market, a time for STEEM to also thrive. Are you green?
|
Unarguably, your choice of asset and capital will play a huge role in your journey to touch the grass during this season/phase of the crypto market. Below are a few things to take into consideration:-
Buy assets of high utility.
Study the past market performance to make investment decisions (some assets have attained more than $100 per unit before and now trade below $1 or barely above a USD). Some of those will be good for your bag.
Load your portfolio with tokens with low market caps (they will reward you greatly). Do your research before investing.
Watch out for new tokens with great utilities. Be early!
Capital Issues?- We are often limited by the availability of capital, if that is your case, consider using perpetual contracts to magnify your position. You can keep your position open for weeks or months (that will see you magnify your profits during the uptrend phase of the market). But then, use low leverage with proper risk management.
Participate in airdrops (that will provide with extra capital to trade).
|
In conclusion, the phase of the market ahead is a time to feel refreshed after a long bearish phase, and the only way to make that count is by positioning yourself for profits through building an amazing portfolio.
The good old days are almost here. That said, this piece of article ain't financial advice rather it's a mere eye-opener. Be safe and profitable!