The crypto market seems to run in a 4 year cycle. It includes a bull run and a bear market.
In the bull run the prices tend to go up and down, up and down, but overall the prices steadily increase.
In the bear market prices tend to go up and down, up and down, but overall the prices steadily decrease.
The prices also seem to go up and down with such volatility that it's scary as hell and if you're not careful you can get your lunch eaten pretty quickly. Especially if you are trying to "day trade" and time the market.
There are also a crap ton of scams you have to be very careful of, and the main thing here IMO is to not keep your crypto on exchanges. Keep it in a private "wallet" so it's safe and can't be taken from you at some scammers whim, and also be very careful what you connect that wallet to. Connect it to the wrong thing and it could be gone in a flash.
Now the folks who have figured the crypto cycle out, try to buy as close to the bottom of the bear as possible, and hold it until as close to the top of the bull as possible. And just because they think they are near the top doesn't mean they will sell all their holdings and exit the space. Sometimes they will just take profits and hold the rest through the next bear market and then buy more at the bottom because over the long haul they think this is the best play. They believe the price will grow even more during the next bull run.
This isn't rocket science, and it's also not entirely "luck" for people that know what they're doing. They are also not always right, but when they are they make a #### ton of money that more than makes up for any mistakes they make.
It's funny to see these people getting mocked though, when the prices are in the crapper during a bear market, like the one that's been going on for 2.5 years now. It's going to be interesting to see how the next year and half goes though as these crypto investors are very likely to get "lucky" again.
I guess we'll see.
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