Will the market pump or dump?

[Abiky]

While in short term it looks like it's pumping, because it has reached above 94k, we have to realize that we can't be pumping for long term because we are going to see bear run eventually come, it always does, it's like Japanese railways.

So I think it's smarter to sell right now, and wait for it to go down so you can buy at half the price in a year. I know many people doubt me, and I know that most of you will not do it, but if you do, I am sure that we are going to be able to see it go down, and then you will be happier.

Only Bitcoin is "pumping". The rest of the cryptocurrencies are down at the moment. Altcoin season is going to take a very long time. I'd be wise to sell some BTC in favor of promient alts, just in case. You might double or triple your investment once altcoins experience renewed interest from investors and traders alike.

What will "pump" the entire market would be the approval of several spot ETFs in the US and abroad. Popular altcoins (LTC, SOL, XRP) are close to having their own spot ETFs. That would open up the doors for institutional investors to flood the market with their capital. As a result, prices will skyrocket like never before. I'd just diversify my investment and forget about the rest.

[SirLancelot]

First mistake you made was to invest according to other's opinions. This will hardly give you any profit. Not everyone is going to give you genuine advice because even they need to make some money. They can only offload their shares of dropping coins if new people like you enter the markets. Usually, money circulates in the markets, and this circulation comes from the fresh stock of money.

I'm sorry to say but your money was already lost in the markets the moment you entered a coin without making any proper research. The drop might continue and your loss will keep on increasing. I hope you are prepared to hold the coins for a longer duration because only then you can gain some profits. Try to avoid looking at the loss statements and think of it as lost money.

Going forward, make sure to invest only once you are sure about the markets. For this, you need to be strong on technical as well as fundamentals. Try to spend some time in learning how the markets work and don't risk investing real money at the initial stage. Instead, try paper trading which will give you good experience. You can only invest real money once you are confident about your strategies.