Some traps to avoid in bullrun.

[Mr.right85]

Thinking that coin will keep going up is the biggest bull run traps I have seen so far, despite being aware of it I keep holding lol. This time I have done preparation to sell. I MUST!

Is that really a trap? That the coins will keep going up…
I don’t have that impression but even if I could, what are the chances that you could have edged against that to save profit by withdrawals or swapping for a stable coin?
All of these come at some risk as firstly, stablecoins aren’t exactly trusted neither is having your coins (Bitcoin) in huge amounts on exchanges and to archive these, you need your coin on an exchange which is very much centralized.

It all counts towards the risk one has to endure with the hopes of maximizing profit but, with the unpredictable nature of the market and the risk associated with having to move coins here and there, it’s often not some area to dangle about. You could just hold and keep holding no matter the market condition.

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[Abu-Naim]

1.Invest in what you can afford to lose: I have read this line many times inside this forum and outside this forum that are crypto related discussion and what they tell you about crypto investment is to invest with the amount you can afford to lose to avoid had I know and regrets that later.

In the last bull run, some people commit suicide when they loss their funds and when some of them where victim of scams. It's advisable to invest in the amount you know it will not hurt you if anything should happen in the end, always consider this before you take that money to any coin.

This advice mostly been given in the forum always if not everyday, but newbies tends to keep ignoring the advice and do what they want.

I know that the green and sign of bull run will trigger some people to risk some money that is nit even theirs to invest in bitcoin and other coins thinking that it will give more profit since it is the bull run season; the risk always remain the same because we can never predict market direction that is why you should always invest the little you have and be patient.

2.Don't keep your coin on any centralized platforms
3.Don't entertain any form of scam
4.Be prepared for the worst and hope for the best:

These are powerful advices and a reminder for us all because scam will be rampant now that almost everybody is claiming to be a bitcoin or crypto investor.
If we avoid been greedy, we will be safe from most of the scams, and lastly, we should learn to e our own bank.

[Wapfika]

3.Don't entertain any form of scam: Scam increases when bull run is around but how to you avoid them is simple, just reduce your greed and don't buy into unreleastic ideas. When you see staking reward of 100%, kindly run away, when you doubling schemes, avoid them and don't invest in shitty ideas because you are so passionate to make money, they will make you hate crypto and ignore the good side of it.

This is stating the obvious for those who knew all type of scam. The thing is most of the victim of scam activity are those who didn’t know that they are dealing with scam that’s why they are becoming a victim. No one will be scammed if they that it’s a scam so “don’t entertain any form of scam” is a tricky suggestion.

Learning all form of scam to become aware of it is the right way to avoid this kind of trap. Being knowledgeable on things that is dangerous will people to stay away on it or else they will learn the hard way.

[Crypt0Gore]

OP your points aren't only for bull run but also useful in this bear market, centralized exchange can put an hold on your crypto asset when they pump, this have happened to some people using Coinbase before, they know how to manipulate people, so getting your coins in a non custodial wallet put you in the control of your assets as it should be.

Scammers don't care if we are in a bear market or bull market, they want everything that they can get from the innocent people, and the most gullible way they do this is by gaining your trust through PMs, if you want to avoid scams know how to ignore or block PMs from strangers, they pretend to have solution that can help in anyway but people are stupid to believe them, if someone do have a solution why can't they use it for themselves?

It's because it's all lies, do not trust anyone online, the only reason someone you don't know will seek for your attention is to use you, they don't have your best will at heart, because remember, they are total strangers, do not click any links sent to you through mails or PMs, some will say they have something good that you can earn from, they will send you a malicious link, do not click on links, stay safe.

[Shishir99]

Not only for the Bull Run, but these traps work in every season and everyone should follow these points. You should not invest any amount that you cannot afford to lose no matter what season it is. You never know when the market will turn 180 degrees and you may not be prepared when it happens.

No one should keep their coins in centralized exchanges no matter the time. I suggest everyone use the non-custodial wallet to store their coin and avoid centralized exchanges. Usually, centralized exchanges also disable some features during the bull run.

[Lucius]

~snip~
In the last bull run, some people commit suicide when they loss their funds and when some of them where victim of scams. It's advisable to invest in the amount you know it will not hurt you if anything should happen in the end, always consider this before you take that money to any coin.

It's not just a matter of the invested amount, but also of the fact that a large percentage of people who invest in cryptocurrencies have no idea what they're actually doing, and any investment of this type is just an even bigger risk than what already exists in itself.
Unfortunately, such things will continue to happen, people are simply too naive and do not have the knowledge and discipline to be successful - and their loss is only someone's gain, which results in the fact that we have very few rich and very many poor people.

~snip~
People that are saying bitcoin will go to $1M are all speculators and are just hoping it happens, nothing is guaranteed here, just be prepared and hope for the best.

Maybe one day that speculation will become reality, but that $1 million will definitely have far less purchasing power than it is the case today. In addition, if people already want profit (and most want it as soon as possible), then they should focus more on some goals that can be achieved in the next few years.

[Asiska02]

1.Invest in what you can afford to lose: I have read this line many times inside this forum and outside this forum that are crypto related discussion and what they tell you about crypto investment is to invest with the amount you can afford to lose to avoid had I know and regrets that later.

In the last bull run, some people commit suicide when they loss their funds and when some of them where victim of scams. It's advisable to invest in the amount you know it will not hurt you if anything should happen in the end, always consider this before you take that money to any coin.

When you’ve invested in bitcoin, you don’t need to bother and think of what you can afford to lose. The phrase should be ‘what you can afford to hold’ amidst the volatile nature of the bitcoin market. When you’ve invested in bitcoin, it will only take time for your investment to earn profit, but most certainly it will at the long term. Investing in altcoin and most especially shitcoins is what makes one to think about ‘invest what you can afford to lose’ because not all will still be in the market after been hit by series of market volatility.

3.Don't entertain any form of scam: Scam increases when bull run is around but how to you avoid them is simple, just reduce your greed and don't buy into unreleastic ideas. When you see staking reward of 100%, kindly run away, when you doubling schemes, avoid them and don't invest in shitty ideas because you are so passionate to make money, they will make you hate crypto and ignore the good side of it.

Scam are the easiest way to get into the greedy and most anxious people, whom are wanting to just get rich overnight. Scammers will be at alert now that the bull run is coming and knowing that many people are eager and anticipating to get the most profits out of it. They will just set trap, lure people with enticing offers to buy into their idea and scam them away. When it looks too good to be true, stay clear from it to avoid being scammed of your money.

4.Be prepared for the worst and hope for the best: Be prepared for anything that comes later, the coin you are having in mind to pump may do that and might not do that. If you are lucky and have profit, enjoy the profits and if you don't make anything, he happy that you were part of the bull cycle, there is nothing guarantee in crypto because you don't know tomorrow. People that are saying bitcoin will go to $1M are all speculators and are just hoping it happens, nothing is guaranteed here, just be prepared and hope for the best.

Having proper control of your mindset and high expectations of anticipated profit is something that have led to many disappointments in the bitcoin market at the time of bull run. Many people wound have taken loans or make promises to people because of the profit they’ve anticipated to get from their investment, when it turns out not be so, they are left in another big trouble that when not managed well can lead to depression and eventually committing suicide. It is good not to have high expectations on your investment, just take the profit you’re able to get at the end of the day and don’t stay greedy else, you might lose them all again.

[Lida93]

1.Invest in what you can afford to lose.

You don't step into the river with both legs when you don't have sight of the depth. Every investor should treat this as important in their search for a coin of interest to be invested in. When you invest above what you can afford to lose it is tantamount as gambling with your peace of mind and when in any case an investor gambles with his peace of mind suicidal thoughts become the next line of action when their investment collapse because they find it had to bear the loss.

No matter how promising, the amount we invest shouldn't be off of our budget. And a simple way to know when you are investing above what you can afford to lose is when you start having fears and feeling of discomfort with the amount of money you are throwing into a coin.

Another thing op didn't mention is about those set of  people that take loan to invest in a coin, be it bitcoin  or any altcoin I kick against the theory as it's 99% not worth risking it.

4.Be prepared for the worst and hope for the best:

it is at this season we get to hear about variants tragedies about have a certain coin that was much talked about and hyped didn't produce result, and all other suck news. At this period what can keep you safe from falling victim of hypes is thorough self digging and research.

[Huppercase]

4.Be prepared for the worst and hope for the best: Be prepared for anything that comes later, the coin you are having in mind to pump may do that and might not do that. If you are lucky and have profit, enjoy the profits and if you don't make anything, he happy that you were part of the bull cycle, there is nothing guarantee in crypto because you don't know tomorrow. People that are saying bitcoin will go to $1M are all speculators and are just hoping it happens, nothing is guaranteed here, just be prepared and hope for the best.

Punch line from Lil Wayne
There is nothing great that beat this phrase and yet many people don't prepare for this in the bull run. People will plan but the market has a way of everyone and it will not favour everyone and that is exactly the mistake many of us do. Just because the market always pump every 4 years cycle doesn't mean it will repeat itself and if you have plan to use the anticpated profits to do something about your life, kindly cancel it because you might even be surprised that coins will not pump as we expected.

Many hands were burn during last bull run and many of them regret even buying some coins, it will take some time before they gain back the trust they have in this market. Maybe if their bags pump back and they realize back some of the losses they have made in the last bull run. So sit tight and tighten your belt very well.

[libert19]

Thinking that coin will keep going up is the biggest bull run traps I have seen so far, despite being aware of it I keep holding lol. This time I have done preparation to sell. I MUST!

Is that really a trap? That the coins will keep going up…
I don’t have that impression but even if I could, what are the chances that you could have edged against that to save profit by withdrawals or swapping for a stable coin?

Yea well, that's what I plan to do this time.

All of these come at some risk as firstly, stablecoins aren’t exactly trusted neither is having your coins (Bitcoin) in huge amounts on exchanges and to archive these, you need your coin on an exchange which is very much centralized.

I have got hardware wallet, I hold my stuff there, I don't hold on exchanges.

You could just hold and keep holding no matter the market condition.

That works with BTC and may be few more prominents cryptos such as Ether, I would not recommends forever holding alts.

[LogitechMouse]

~

I know that what the OP has shared helped us especially those newbies out there, but I will just add one more to the list.
Don't let your emotions fool you.

I know, I know the feeling when we see the price of the Bitcoin, and other altcoins that we are holding going up. There are some who are very excited to see them rise, to the point that they will just sell just because they're excited to take those profits. I mean I'm not against it, but there are some investors who are selling, and then when they see the price of whatever coin they see goes up, they will buy it immediately hoping that they will get a huge profit on it again. It's like selling now, then re-buy it again hoping that it will go up even more. Yes, there's a chance that it might go up still, but most of the time it doesn't.

Adding emotions to your decisions aside from the fact that you don't have any strategy at all is a recipe for disaster. You might gain more profit selling, but greed takes you, and in the end, you still lose your money. Be emotionless, and always stick to your plans.

[Kaliandra]

indeed we have to be careful when investing in crypto and don't let us become victims of the bull run, because there are a lot of people who lose due to the bull run but there are also many who profit and in this case only people who buy in a bear market make a profit because of the price very cheap.

but it is true that only money that is ready to be lost is worth investing in because if you use money that is not ready to be lost it could potentially result in losses and lead to frustration, but for people who invest in BTC of course the risk is not as big as in altcoins because if you invest in BTC it is as long as we have a strong hold on it. in the long term, there is potential profit that we can get and usually btc always forms a new ath, but altcoins are different from bitcoin because most altcoins always do not return to their highest prices, in fact many altcoins have their prices destroyed.

[tabas]

Do not forget about being greedy. Many times have everyone avoided to take profits for being greedy as we have thought of more price increase. That is the main reason why someone misses the entire bull run and that is for being greedy. Do not commit the same mistake because you will not know how it is going to be after the bull run and how long it is going to stay. But for now, what we can be sure of is we are not yet there and we will see that after the halving. But the first timers have to remember all of these tips if you do not want to experience the mistakes we did in the past. It is all for your convenience and shortcut when there are tips provided like these.

[Velemir Sava]

1.Invest in what you can afford to lose: I have read this line many times inside this forum and outside this forum that are crypto related discussion and what they tell you about crypto investment is to invest with the amount you can afford to lose to avoid had I know and regrets that later.

In the last bull run, some people commit suicide when they loss their funds and when some of them where victim of scams. It's advisable to invest in the amount you know it will not hurt you if anything should happen in the end, always consider this before you take that money to any coin.

For me, this point means that if you are not ready, don't enter the market. and when you're ready, just go straight in. Not only do you need patience when trading, but you also have to understand the techniques and patterns because if you take the wrong trading steps then you will experience losses that will make you dizzy but not suicidal.

[Z390]

Thinking that coin will keep going up is the biggest bull run traps I have seen so far, despite being aware of it I keep holding lol. This time I have done preparation to sell. I MUST!

True, I learnt this the hard way, to make things easy, sell when we are in a bull market, most coins pump withing a week and that's the highest they will ever go, do not be greedy when you are already in profit, if you can turn a $100 into thousand of dollars you are already in a big profit and you should start taking profit, not all your coins will do x1000 if you wait for such you will possibly ride down into the next bear market again.

Some things are just mathematics, if you invest 1000 in a project and that amount turned into 10k or 20k you should start taking profit, my own strategy is taking my initial investment out first, that's the most important thing you can do, everything else will be free ride with free money.

Do some calculations, have a talking profit strategy on standby, you can sell 20% of your portfolio when it reach a certain amount, and sell the next 30% at another bit higher price and so on, until you sell it all, a profit secured is the real profit you've made, if you don't take profits you don't make any.

[kentrolla]

Very insightful post, especially the one "Invest in what you can afford to lose", this is the factor most of us forgets or ignore due to greed , I have also made this mistake in the past and also once we see market going upwards we don't care about stop loss and neither take profit because of FOMO on possible massive pump but it's usually ends in loss.

Some will say Bitcoin investment will be less risky but during bullrun that's not the case because previous it took almost 4 years to meet the breakeven for those who invested in December 2017. Bullrun can either be blessing or curse depending upon how we plan of investment and trade.

[Finestream]

I think one of the common mistakes people make during a bull run is that they make investments just because they are afraid of missing out. In these times, the media is super hyped about Bitcoin, crypto “experts” and analyst come up with some price prediction to trigger more people into buying. It’s becomes even worse when newbies buy random altcoins in hopes of making x10 their investment.

You know, the best entry in the market comes when the market is bearish and not when having bull run. Because if you decide to invest during bull run, you might get tired waiting for your coins to pump more for you to gain decent profits. Always remember that no matter how a coin looks bullish, it will never guarantee that its price will keep the momentum to keep on rising. Time comes that it will experience a drastic fall, and by that time when you decide to sell, you are already losing. Most especially if you fall on those too good to be true altcoins, there's no more reason that you'll keep on hodling on them anymore once you see their prices falling deeply.

So if you can't manage the risk when entering a bullish market, then don't decide to enter. Wait for the market to turns bearish and that's when you can make a maximum purchase of bitcoin at its very affordable price.

[TimeTeller]

Very insightful post, especially the one "Invest in what you can afford to lose", this is the factor most of us forgets or ignore due to greed , I have also made this mistake in the past and also once we see market going upwards we don't care about stop loss and neither take profit because of FOMO on possible massive pump but it's usually ends in loss.

Some will say Bitcoin investment will be less risky but during bullrun that's not the case because previous it took almost 4 years to meet the breakeven for those who invested in December 2017. Bullrun can either be blessing or curse depending upon how we plan of investment and trade.

Has been said countless times and yet, many people still forget this very simple reminder.
I guess it is owed to the fact that people want to earn quick profits at a very short period of time.
Well, that's the goal of many newcomers in this market, thinking that they can easily get a hold of riches.
The pointers are quite simple but many will still fail to keep track on those tips. This is what greed can do to us.

[serjent05]

In addition, we should not let greed affect our decisions.  It is a personal set trap that oftentimes make us lose our possible profit.  During the bull run, the price of Bitcoin is continuously surging, so we need to set a selling price if we want to cash out on that bull run.

In setting a selling price one must be realistic.  There are lots of people who set unrealistic prices due to greed and end up missing out on the possible highest profit.

Aside from that, we must be updated on the current development and trends of the market.  Bitcoin is so volatile that changes in the direction of price can happen anytime.

[aysg76]

The second thing is important to understand because if you are having investment purposes then keeping your coins on centralized exchanges is not a good idea because they are having full access to your funds and we have seen in so many cases how data leaks and hacks have resulted in people’s loss.You should be aware about self custody and there are more steps to be taken for your funds safety but atlest avoid these CEX.Some have faith they are safe and it didn’t happen to them so don’t wait for that time.