We all heard that sentence as motivation that Crypto / Bitcoin usually had dumps and pullbacks just to keep climbing in the long run. The entire year 2022 can be described as a bear market and a lot of people speculate recently that the bottom is already behind and these pumps are the start of a bullrun.
While I get the excitement I just want to remind everybody that relief rallies do exist in bear markets. There’s even a good example that happened a couple months ago. BTC hit 32k in January, then a rollercoaster started with ups to 45k and downs back below 40k. It climbed up to nearly 50k in march just to bleed for weeks down to below 20k with major problems looking at LUNA and DEFI.
The point is - don’t let feelings drive you insane during these times. Sure you might have missed a +30% here & there but it could’ve also been an immediate decline as soon as you bought to lower lows. The macro economics haven’t changed. Inflation, ongoing war, unstable Chinese market and a potential real estate market collapse.
Stick to your plan because FOMO and panic selling can be the biggest enemy during these times. The volatility will get even bigger the upcoming weeks with GDP announcements, interest hikes & earnings report.
Let’s just be happy that these recent pumps are definitely proof that institutions are still interested in this futuristic tech
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