Making profit with a bubble

[AmoreJaz]

The problem with most people who invest or trade bitcoin is that they don't have an exit plan, i does not matter if they get in early or get in late, they always get greedy once they see the price rise and don't take their profit while they are still green, so whether its a bubble or not they get caught up in the trend and don't set goals, sure the crypto market is hard to predict and there are always ups and downs but trends can be easy to follow but the key is to stay calm and not to get greedy and have a set goal.

I am also having similar type of opinion like for long term bitcoin trading, definitely we do not need any exit plan because bitcoin is always into bullish trend so you can make the maximum benefit if you continue your holding.

It means you will never need to go for selling your bitcoins but you can use it in your real time to enjoy the maximum benefit out of your bitcoin investments. People who are selling right now maybe regretting later for their decision of not continue their holding. To avoid such regret it will be a better decision to continue our holding.

but if you have other things to attend to other than holding and waiting to increase the value of btc, it is also worth it to cash out some. like for example, if you want to start a small business, and use some of your btc funds. that for me is a worthwhile move. because you can already increase the value if you are good in the business that you venture with. so imo, it depends on the capability of the person how he will tackle his next move with regards to his btc funds. some can gain, while others will lose some.

[suzanne5223]

A lot of people joining cryptocurrency invest in at geographical area is not the reason why Bitcoin keep its uptrend momentum and the only major reason why Bitcoin is still on uptrend now is because the humpback whale and the whales did not dump their holding. Understand that a single humpback holding surpasses all the holding of the people in your geographical area but I expect the market to experience a big dump in price before the end of this month.

But also not a few people who join cryptocurrency just follow the hype. As at the time of the cryptocurrncy pandemic, its adoption growth increased. Due to the economic boost, it saves finances from inflation and also secures finances from tax chases. In this case, taking profits during the bitcoin rally is very unlikely to take short-term profits. As much as possible be patient and not easily carried away by market conditions. At the time of the rise in bitcoin, a few days later altcoins joined the rally and at this time a big correction may have come or wait for the end of the year.

There was never a cryptocurrency pandemic, or an economic boost which is the reason why some institutional investors choose Bitcoin as their hedge fund.
Having said that, the market correction doesn't always happen the next cause the rally usually lasts for a single year.

[livingfree]

But also not a few people who join cryptocurrency just follow the hype. As at the time of the cryptocurrncy pandemic, its adoption growth increased. Due to the economic boost, it saves finances from inflation and also secures finances from tax chases. In this case, taking profits during the bitcoin rally is very unlikely to take short-term profits. As much as possible be patient and not easily carried away by market conditions. At the time of the rise in bitcoin, a few days later altcoins joined the rally and at this time a big correction may have come or wait for the end of the year.

Due to pandemic.

The crypto adoption rate growth and that's because all of us have been quarantined and locked down to our homes. But at this time, things are becoming back to normal slowly.

Still, look at the adoption rate, it keeps on going better.

[JooBra]

But also not a few people who join cryptocurrency just follow the hype. As at the time of the cryptocurrncy pandemic, its adoption growth increased. Due to the economic boost, it saves finances from inflation and also secures finances from tax chases. In this case, taking profits during the bitcoin rally is very unlikely to take short-term profits. As much as possible be patient and not easily carried away by market conditions. At the time of the rise in bitcoin, a few days later altcoins joined the rally and at this time a big correction may have come or wait for the end of the year.

Due to pandemic.

The crypto adoption rate growth and that's because all of us have been quarantined and locked down to our homes. But at this time, things are becoming back to normal slowly.

Still, look at the adoption rate, it keeps on going better.

I look at nft gaming like first place where is a good adoption. Imagine what will happen in other fields. Adoption will make this space so much bigger.

[Botnake]

But also not a few people who join cryptocurrency just follow the hype. As at the time of the cryptocurrncy pandemic, its adoption growth increased. Due to the economic boost, it saves finances from inflation and also secures finances from tax chases. In this case, taking profits during the bitcoin rally is very unlikely to take short-term profits. As much as possible be patient and not easily carried away by market conditions. At the time of the rise in bitcoin, a few days later altcoins joined the rally and at this time a big correction may have come or wait for the end of the year.

Due to pandemic.

The crypto adoption rate growth and that's because all of us have been quarantined and locked down to our homes. But at this time, things are becoming back to normal slowly.

Still, look at the adoption rate, it keeps on going better.

I look at nft gaming like first place where is a good adoption. Imagine what will happen in other fields. Adoption will make this space so much bigger.

Even if everything will be back to normal and this pandemic will be over, i have to say that this crypto adoption will continue to grow because lot of countries have started it already and there's no other way to go but to end up massive adoption. And with this increasing rate of crypto adoption, bitcoin and most of the good altcoins are also making a good shape in the crypto market due to the large demand from the different people all over the world. If this is all a bubble, then people should be making cash outs out from the profits they made, but i know all this happening right now is definitely not a bubble and so people chose to invest and hold them even longer.

[Silberman]

The issue is that what we call common sense in the markets is in fact not so easy to acquire and you need some experience to begin to develop it, so newbies that come here without any strategy and without common sense lose their money relatively quickly as they are unable to grasp the realities of the market, it is not until they go thought several hardships they begin to understand the markets but by that time they have lost so much of their capital they are unable to apply those lessons.

What they are failing to understand is that market is an ever moving and emotionless place. They believe that it is like nations or citizens or public or communities and so forth where there could be something wrong and people could still defend it and achieve it. Market is the place where the right thing happens each and every time because it is money that we are talking about so the result is always what should be happening anyway.

There is no "it should have been higher but went low", if it should have been higher then it would have been higher, if it is lower than it should be lower, there is no other way around it, if we are the ones with money and we make the decisions then our decisions are the last call and nothing on top of that could be said. This ruthless sharp situation doesn't sit well with many people who haven't done it before.

Correct, the markets are a meritocracy, if you are a good trader or investor you make money and if you do not then you lose it, many people are not used to this kind of environment as I think we are all aware of many of our coworkers which do a terrible job and still receive the same pay as we do, the markets fortunately are not like that, which is why many people think they are unfair as the winning distribution is nowhere near even and we have many times more losers than winners.

[livingfree]

But also not a few people who join cryptocurrency just follow the hype. As at the time of the cryptocurrncy pandemic, its adoption growth increased. Due to the economic boost, it saves finances from inflation and also secures finances from tax chases. In this case, taking profits during the bitcoin rally is very unlikely to take short-term profits. As much as possible be patient and not easily carried away by market conditions. At the time of the rise in bitcoin, a few days later altcoins joined the rally and at this time a big correction may have come or wait for the end of the year.

Due to pandemic.

The crypto adoption rate growth and that's because all of us have been quarantined and locked down to our homes. But at this time, things are becoming back to normal slowly.

Still, look at the adoption rate, it keeps on going better.

I look at nft gaming like first place where is a good adoption. Imagine what will happen in other fields. Adoption will make this space so much bigger.

It will.

But there are certain areas that where people are focusing that much. Like in NFT, there are arts and musics and games. Although these areas are big.

There's more focus with the gaming area, NFT gaming has became bigger due to the rewarding games where you can buy those NFTs to play with.

[TheUltraElite]

But there are certain areas that where people are focusing that much. Like in NFT, there are arts and musics and games. Although these areas are big.

There's more focus with the gaming area, NFT gaming has became bigger due to the rewarding games where you can buy those NFTs to play with.

They are trying to get into the crypto hype and it is working. I am personally not a fan of hype based objects like ICOs previously and now NFT. Still if they help increase adoption and use of crypto, I am up for that.

But these bubbles help some predatory people to make money, no doubt in that and being able to jump on the bandwagon becomes the rat race then.
Important thing is to exit timely and not expect to use your long-term mindset for such projects, because they are short term ones.

Dont expect yourself to be able to jump on them every time. Sometimes it is better to ignore the commonly taken path.

[bakasabo]

I would say that NFT is the scariest bubble for me. Despite ICO bubble, where an investor or buyer at least have a small and predictive description of what he is spending money on, NFT is something I always avoid. With NFT, I just buy a bunch of pixels. Some of them have a value, but compared to a token from ICO, that value is described in whitepaper, NFT value is an imaginary amount that someone once set. It can be 1 cent, it can be $1 million. With ICO bubble, tokens in most scenarios can be sold at etherdelta for 1 gwei. With NFT, you can just hope that someone buys for the price you've set. I find it very hard to earn with NFT bubble and avoid it.

[Coin_trader]

I would say that NFT is the scariest bubble for me. Despite ICO bubble, where an investor or buyer at least have a small and predictive description of what he is spending money on, NFT is something I always avoid. With NFT, I just buy a bunch of pixels. Some of them have a value, but compared to a token from ICO, that value is described in whitepaper, NFT value is an imaginary amount that someone once set. It can be 1 cent, it can be $1 million. With ICO bubble, tokens in most scenarios can be sold at etherdelta for 1 gwei. With NFT, you can just hope that someone buys for the price you've set. I find it very hard to earn with NFT bubble and avoid it.

Are you saying that a physical art collection value is in bubble too because it's value sometimes more than dollar without any basis on how to land on it? Ofcourse not. Most of the thing made on NFT arts and they just convert the physical to digital that's why many artist are starting to enter on this industry. The value of each NFT depends on the influence of its creator. There are some instances that there's a manipulation on price but that is just an isolated case. Art collectors in crypto are investing tons of money NFT because they know that they are first to hold since its new and they are investing because they know it will be worth more in the future.

It is just like investing on unknown arts from unknown artist then suddenly in the future it became limited edition and collectors item because it is first on its own kind. I agree that some NFT valuation is over price for us non-collectors but remember we are keep telling that even when someone bought a million dollar physical painting in an auction.

[bakasabo]

I would say that NFT is the scariest bubble for me. Despite ICO bubble, where an investor or buyer at least have a small and predictive description of what he is spending money on, NFT is something I always avoid. With NFT, I just buy a bunch of pixels. Some of them have a value, but compared to a token from ICO, that value is described in whitepaper, NFT value is an imaginary amount that someone once set. It can be 1 cent, it can be $1 million. With ICO bubble, tokens in most scenarios can be sold at etherdelta for 1 gwei. With NFT, you can just hope that someone buys for the price you've set. I find it very hard to earn with NFT bubble and avoid it.

Are you saying that a physical art collection value is in bubble too because it's value sometimes more than dollar without any basis on how to land on it? Ofcourse not. Most of the thing made on NFT arts and they just convert the physical to digital that's why many artist are starting to enter on this industry. The value of each NFT depends on the influence of its creator. There are some instances that there's a manipulation on price but that is just an isolated case. Art collectors in crypto are investing tons of money NFT because they know that they are first to hold since its new and they are investing because they know it will be worth more in the future.

It is just like investing on unknown arts from unknown artist then suddenly in the future it became limited edition and collectors item because it is first on its own kind. I agree that some NFT valuation is over price for us non-collectors but remember we are keep telling that even when someone bought a million dollar physical painting in an auction.

I am saying that digital art (NFT) has a lower value than physical art. I find most of NFT similar to very young children random paintings. They have value mostly for their relatives only.

I agree that "The value of each NFT depends on the influence of its creator", but there are so many "creators", that does not allow value to grow. Look around. Each and every project create their own NFT. They dont even have goal or business plan. Their idea is "today will make and distribute NFT, and maybe someone will pay a lot of money for it". I can be a creator like that. I can create 1min sketch pictures in paint, hoping to sell them on an auction.

"a million dollar physical painting" definitely is created by a famous person. But "a million dollar NFT" can be created by a kinder garden kid, and this NFT can accidentally be bought by a crypto user.

[zaesvlas]

With this approach to work, Forex can be considered a bubble.

[Taskford]

But there are certain areas that where people are focusing that much. Like in NFT, there are arts and musics and games. Although these areas are big.

There's more focus with the gaming area, NFT gaming has became bigger due to the rewarding games where you can buy those NFTs to play with.

They are trying to get into the crypto hype and it is working. I am personally not a fan of hype based objects like ICOs previously and now NFT. Still if they help increase adoption and use of crypto, I am up for that.

But these bubbles help some predatory people to make money, no doubt in that and being able to jump on the bandwagon becomes the rat race then.
Important thing is to exit timely and not expect to use your long-term mindset for such projects, because they are short term ones.

Dont expect yourself to be able to jump on them every time. Sometimes it is better to ignore the commonly taken path.

Those predator join its because they know that many people goes on that area and since NFT is on heat right now they are creating things that can caught the attention of the people, thats why we should be more selective on the platform we go since not all we can see is good even if they have good roadmap brought for introducing their project.

What most important thing with those hype is don't get caught and hodl to much since taking profit is always the best thing to do especially on hype projects.

[Silberman]

I would say that NFT is the scariest bubble for me. Despite ICO bubble, where an investor or buyer at least have a small and predictive description of what he is spending money on, NFT is something I always avoid. With NFT, I just buy a bunch of pixels. Some of them have a value, but compared to a token from ICO, that value is described in whitepaper, NFT value is an imaginary amount that someone once set. It can be 1 cent, it can be $1 million. With ICO bubble, tokens in most scenarios can be sold at etherdelta for 1 gwei. With NFT, you can just hope that someone buys for the price you've set. I find it very hard to earn with NFT bubble and avoid it.

I think the same as well and it is why I expect a massive crash for the market of NFT coins, even if the ico bubble was huge and in many times unjustified at least it made sense to me, people were trying to find the next big thing among thousands of coins, some did and made a fortune while many failed, in the case of NFTs it is impossible to know how they will perform as they are not really a project that can grow in value as it gets developed like icos, and instead depends entirely on what someone else wants to pay for it.

[sana54210]

I am saying that digital art (NFT) has a lower value than physical art. I find most of NFT similar to very young children random paintings. They have value mostly for their relatives only.

I agree that "The value of each NFT depends on the influence of its creator", but there are so many "creators", that does not allow value to grow. Look around. Each and every project create their own NFT. They dont even have goal or business plan. Their idea is "today will make and distribute NFT, and maybe someone will pay a lot of money for it". I can be a creator like that. I can create 1min sketch pictures in paint, hoping to sell them on an auction.

"a million dollar physical painting" definitely is created by a famous person. But "a million dollar NFT" can be created by a kinder garden kid, and this NFT can accidentally be bought by a crypto user.

You could just avoid those ones and end up buying the real good ones? I mean there is nothing stopping you from buying real art turned into NFT as well. Maybe one day some real good painters stuff would be sold on NFT market as well, in form that "whoever owns this NFT holds the right to own the physical one as well that would be displayed in a museum condition", that way you could even buy Mona Lisa, you can't put it on your home, but it will be yours that will be shown to public in the museum.

However, all the data suggests that stuff like axie, apes, cryptopunks and all that are very bad drawn stuff, stuff that are totally worthless in art sense, and yet we are talking about millions of dollars for them. So artistic value is not something people look for in NFT at all.

[martina14]

We all know that this upward move won't last forever, even if a real spot ETF is gonna be approved (that would cause another big rise, in my opinion), one day we will reach an unsustainable point of extreme overvaluation and a single fundamental event will trigger a huge dump.


I'm not trying to predict the future, I'm just trying to be honest myself considering that this cycle will come to an end (as always did before), but that could represent an opportunity too, for instance, with a short position opened at the right time (I know that I could appear like a complete fool who is trying to imitate Michael Burry in 2008).


What's your idea about that?

If your pretty sure that in the future you can get a profit, I guess you can stay with your plan mate. However, if there is something doubtful you better think of it of course. Just like for example NFT games nowadays are very trending where the majority of them are totally amazed but anytime soon the market could be gone that's the scary things I guess.

[TheUltraElite]

With this approach to work, Forex can be considered a bubble.

Every speculative asset sees the "bubble" concept once a while due to normal human thinking. Just depending too much on a bubble without taking profit off it is the bad sign.

Those predator join its because they know that many people goes on that area and since NFT is on heat right now they are creating things that can caught the attention of the people, thats why we should be more selective on the platform we go since not all we can see is good even if they have good roadmap brought for introducing their project.

Investors need to be careful really. The regulatory bodies who are regulating investments but cannot get hands in bitcoin made their stance very clear for now. People should know what they are investing in. If they see lack of market making a lack in proper judgement on the team, they should pull out before others. Predatory groups are always there because law enforcement can do only a certain part, the majority of investment related scams are from the client's side.

What most important thing with those hype is don't get caught and hodl to much since taking profit is always the best thing to do especially on hype projects.

Truely, timing your exit is important. The ones who are creating the hype are more interested in making the investors hold the asset, so the creators can earn more selling their holding. These things need to be understood by the new investors.

[michellee]

We all know that this upward move won't last forever, even if a real spot ETF is gonna be approved (that would cause another big rise, in my opinion), one day we will reach an unsustainable point of extreme overvaluation and a single fundamental event will trigger a huge dump.

I'm not trying to predict the future, I'm just trying to be honest myself considering that this cycle will come to an end (as always did before), but that could represent an opportunity too, for instance, with a short position opened at the right time (I know that I could appear like a complete fool who is trying to imitate Michael Burry in 2008).

What's your idea about that?

If your pretty sure that in the future you can get a profit, I guess you can stay with your plan mate. However, if there is something doubtful you better think of it of course. Just like for example NFT games nowadays are very trending where the majority of them are totally amazed but anytime soon the market could be gone that's the scary things I guess.

As long as we can use the trend very well, I am sure we can make a profit and we should leave the trend before the trend is gone because that can make us wait for an unknown time. While the NFT trend is still in the market, we can try to search for other things that could help us to make more profit. But do not just stay at the NFT project as we have bitcoin that will become stronger than before so if we can have more bitcoin, that will give us a big profit than the NFT.

[bakasabo]

You could just avoid those ones and end up buying the real good ones? I mean there is nothing stopping you from buying real art turned into NFT as well. Maybe one day some real good painters stuff would be sold on NFT market as well, in form that "whoever owns this NFT holds the right to own the physical one as well that would be displayed in a museum condition", that way you could even buy Mona Lisa, you can't put it on your home, but it will be yours that will be shown to public in the museum.

However, all the data suggests that stuff like axie, apes, cryptopunks and all that are very bad drawn stuff, stuff that are totally worthless in art sense, and yet we are talking about millions of dollars for them. So artistic value is not something people look for in NFT at all.

There are too many underwater stones with NFT and no direct answers. It is always: maybe, perhaps, if X happens then Y would be Z. If I buy a physical painting from a famous artist, I can be sure that with time, its value would only grow. But with NFT, there are still too many scenarios that might turn my investment into zero. I can hang real painting and enjoy it. I can boast with it for example. But with NFT, if I show people around it, with 99.9% chance they would say that the Internet is full of pictures.

[fullhdpixel]

There are too many underwater stones with NFT and no direct answers. It is always: maybe, perhaps, if X happens then Y would be Z. If I buy a physical painting from a famous artist, I can be sure that with time, its value would only grow. But with NFT, there are still too many scenarios that might turn my investment into zero. I can hang real painting and enjoy it. I can boast with it for example. But with NFT, if I show people around it, with 99.9% chance they would say that the Internet is full of pictures.

That is true in all of crypto as well. If you are not sure about anything and can't be certain, then just stay away from it. The one that you own in your house could still be broken into and stolen if it is a really valuable one, I doubt there are any thieves that are smart enough to understand a really expensive one versus a very cheap one but it is certainly something quite possible if they get it.

So, NFT is a lot more guaranteed, you know it is yours and can't be stolen from you, is that the part you want to talk about? I mean if we are going to compare the pros and cons of them and make them fight of course the physical one would be getting a lot more love, but here we get to buy something (or mint it) for a few grand and then sell for a huge amount, even in crypto there are rarely that type of quick returns, so art and hype getting together is a lot better here.