Cryptocurrencies are of those asset classes that everyone has an opinion about nowadays. While on the one hand, many focus on the fact that the market is in a downtrend and therefore we should not buy cryptocurrencies at this point; others insist that we must buying precisely because the market is in a downtrend.
In other words, in the face of the same situation, the bear market, there are two totally different opinions; but...
Which one is the right way?
It should not surprise us then that the same thing happens during the uptrends of the crypto market. Because in bull markets, many people just focusing on buy, while others argue that you should only sell in such cases.
All depend from our perspective and our personal position.
Is it, then, a matter of focus?
Certainly, buying and selling cryptocurrencies today is a matter of focus. Because whatever you decide to do, it will be a matter of the glass with which you look at it, and the analysis you make of the crypto market situation, but also, and more importantly, of your personal situation.
In any case, there is no absolute truth in all this that is going to give us 100% sure profits in the markets, and we should already know that as traders. In other words, there are no magic formulas, no miraculous potions, no extraordinary recipes that will allow us to win invariably in the market.
What there is is knowledge that we must acquire to learn to analyze the markets, and be able to have an approach that helps us put the odds in our favor every time we operate.
As I said, focus is essential in all of this, and that is true for downtrends as well as downtrends.
Let's be responsible
Whatever we decide to do in the market, we must be responsible to ourselves; because we need to remember that in the markets we risk our money, our capital, which has cost us so much to earn. Also, if we lose money, we will not be able to blame anyone for our failures, and even if we could; what is the point?
In one case or another we need to understand that if we decide to buy or sell BTC (to mention some crypto) in a bullish or bearish moment, we must draw up a plan based on a strategy and stick to said plan and strategy. If it hits, great, if it misses, we'll learn along the way.
It's all a matter of focus.
And what do you think about the topic discussed?
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