Dream scenario: A valuable lesson

BINANCE:BTCUSDT   Bitcoin / TetherUS
Bitcoin is a small 2% away from all time high. Now is a good time to look back on the past 3 years since it has gone mainstream. Many "strong hands" ended up selling right before the explosion up (the same people that criticized, insulted, reported and mocked me, while let me remind you I bought at the bottom of this explosion at ~12750 when many of them were selling "the top" and many others had already sold).

Not all the 2018 bulls have sold at the bottom, and not all have sold period. A whole lot sold near the bottom, or a little before, or a little after (even some "OGs" sold at 13k or less as the bull market was starting). But generally speaking the people that laughed at me were bullish during the entire bear market while I was bearish from March 2018 to some time in 2020 so the entire bear market, and they ended up exiting all or in part right as the new bull market was starting. Karma hits hard.

While the price going to zero after sucking the bear market bulls back in would be hilarious, where it is at now is sufficient for Bitcoin victims to draw some conclusions.

I will remind what the rules are (made an arbitrary list, those are the main ones that come to mind):

1- Do not lose money. Cut losses quickly. Have an intelligent position size.

2- Have a plan. Told some "experts" with 20 years experience that "you waited that long, why fomo in now?" back in early 2018, just got barked at.

3- Real traders goal is to make money. Victim's goal is to not miss out (and they end up missing out anyway).

4- Waiting for a big pullback for no reason is stupid.

5- Not waiting for a big pullback when one is likely is stupid.

6- Diversify. Even Mr concentration Warren Buffett diversifies (in assets, in industries, and over time).

7- If you find yourself getting influenced by the crowds, the media, etc: cut them off.

8- For stubborn people (you skipped 7 hopefully): well don't be too stubborn if the evidence is saying something different.

9- Brace yourselves for the boring saying we all heard 10 thousand times: there is no free lunch.

10- Run winners. If the price keeps going strongly up and you are on a weekly chart, why would you sell at 13k this year?

11- Use your head. I see so many mind-bogglingly stupid arguments and actions. To those people: make a damn effort, you can't be that dumb (right?).

12- Don't revenge trade: do not try to "get my money back NOW".

13- Revenge trade: If something keeps not working do something different, sometimes this is the opposite.

14- Do not try going too fast

15- Don't day trade

This is very helpful to people that held Bitcoin all of 2018-2019 and end up selling in 2020:
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all guys waiting for cheap BTC, time is over. just keep drawing nonsense charts and keep dreaming for a cheap btc. he he he..
+2 Reply
Stop lying. According to your chart BTC should be around $950 at the end of 2020. Short memory? Don’t worry, I will remind.

+1 Reply
BTC is due for a healthy correction. I agree with you!
+1 Reply

Exactly my thoughts. Bull markets don't start in the parabolia phase, they start in the "stealth" phase, where the majority of people are in denial.
+1 Reply
BorisPoff TelecomTycoon
@TelecomTycoon, majority IS in denial. One example is the author of this post.
Heheh.. poor bear.. this guy is shorting since bitcoin at 4k.. You must have lost your net worth till now.. bear in denial.. heheheheh
+1 Reply
MrRenev VishalGupta35
@VishalGupta35, Interesting brain
+1 Reply
BorisPoff VishalGupta35
@VishalGupta35, confirmed.
this market is hard to predict. What you think it reaches 30k-50k then drops like you say? Because that would be one huge bubble.
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