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The cryptocurrency market is a place where people’s lives can be changed in an instant if you choose the right project at the right time. We have all heard the stories of how lucky individuals have invested just a few hundred dollars, only to see it balloon into a fortune.
“That could have been us. That should have been us!”
We all begin to have these same thoughts. Unknowingly to most, these are the types of ideas that will be the downfall for most people in Bitcoin and crypto. You won’t have true success in this market until you learn what I’m about to share with you today.
Arguably one of the most deadly mistakes you can make in this industry is trying to chase gains.
The crypto market is full of people attempting to get rich as soon as possible, and this lack of patience will cause them to succumb to impulse decisions.
One such example is chasing after the crypto project that is currently the most hyped. People see these project’s prices soaring while the coins that they already own are stagnant. Eventually missing out on these gains and the project that everyone is talking about will be too much for them to take. They finally give in and trade the coin they’ve been holding for ages for the new and shiny project.
A recent example of this was Solana toward the end of last year. No matter where you went on YouTube or X, Solana was all anyone was talking about.
Going further back to the last bull cycle; the hype was centered around Layer 1s and meme coins. Projects such as Solana, Luna, Avalanche, Shiba Inu, and Dogecoin were some of the most chased-after projects.
However, the age-old problem in the investing world is that once the entire market has gone into a frenzy mode about a certain project. Declaring that it’s the next big thing, and the price will only continue to go up in the future. That is exactly when we have reached the short-term top.
Once you have become aware of the pump, you have already…
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