With as much as 130 million people introduced to cryptocurrencies since the end of 2021, millions of investors could soon be looking at their first crypto bull run, with some suggesting it could come as early as 2024.
However, unlike the current bear market, a bull market is “unlike anything else you've ever experienced” according to Ben Simpson, founder of education platform Collective Shift.
In August, Cointelegraph spoke to hedge fund managers, heads of research at digital asset companies, and other crypto traders to understand how they’re preparing for the upcoming bull market and some of the learnings they could pass onto newcomers.
Simpson said one of the biggest mistakes that new crypto traders make is holding onto their crypto bags too long — most often caused by getting caught up in the euphoria that they could make more.
Instead, Simpson said it could be helpful for investors and traders to write down a clear investment goal and understand what assets are in their portfolios — with a hard-set sell price for each one.
Setting hard market exits may reduce the possibility of losing on an investment as “once the music stops in a bull market it stops really quickly,” said Simpson.
There are literally tumbleweeds rolling across Crypto right now.
No Engagement
No Price movements
No interest
No investments
I suspect a big move is coming soon.
Prepare accordingly.
On the same note, CoinShares head of research James Butterfill told Cointelegraph that dollar-cost averaging — periodic small asset purchases or holdings sales — could mitigate the volatility of cryptocurrencies, whether it's a bull or bear market.
“Implementing dollar-cost averaging can help lower the average purchase cost and diminish the influence of volatility on
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