Mistakes During Bull Run

[ruykeri]

First before going into bitcoin make your decision first are you in for longterm or short term.  If you are in for short term then you can be wary of market conditions  . Your aim is to avoid your money being trap in BTC for long so you will find means to avoid that and make profits while doing so , know that such method far riskier than longterm holding you shouldn’t be bother with market conditions all that matters is how long you can hold and are consistent you are with your accumulation.

If someone hold Bitcoin for the purpose of short-term, it will not be investing, it will be trading. Which is much more risky. Here you have to catch the timing of the market. But it is not possible to predict when the Bitcoin market will go in which direction. So investing in the long term is the most realistic. If you hold it for a long time, the price of Bitcoin is likely to be much higher after a one or two cycles. That is why we should keep the investing mentality. That is, even if you buy Bitcoin during the bull run, you should invest for the long term.

[abaeze]

Every year there is a small or big bull run, in which case participation in this rally according to one's ability is not possible for everyone due to skill and proper planning. Therefore, only those who patiently and disciplinedly arrange their investment plans can participate in this rally, the rest just watch and get disappointed. Investing in altcoins is like gambling. If you are lucky, you may make some profit, but most of it will be lost at some point. Looking at the previous chart, it can be understood that investing in Bitcoin in the long term is profitable and reduces the risk of investment. Therefore, if you want to get rich, investing in Bitcoin in the long term is the right decision, not in altcoins. Another thing is that anyone, new or old, can make mistakes in investment, but those who learn from mistakes and plan properly later are the ones who achieve success in the future.

[7juju]

Many people think of getting rich very quickly. That is why they often waste money on altcoins. Since the price of altcoins increases along with Bitcoin during Bullrun, they spend a large amount of money on altcoins after listening to other people's stories. But this type of altcoin is very dangerous. Which is worse than gambling. Because altcoins are controlled. That is why it is not right to invest in altcoins at any other time also at Bullrun.

It is not advisable for newbies that are starting their investments journey to start with altcoins they should avoid it as they can't differentiate between altcoins that has been at the industry for long and those that are just coming out that has the potential of rug pulling at any time. However for experienced investors who have been in the market, there are some altcoins that has been in the market for long and over time they have shown potentials of becoming bigger.

There are altcoins like the BNB that's the native coin of Binance exchange that happens to be the world biggest exchange. This coin have shown consistency over the years and since it's tied to a product we can see is doing well in the industry, it is not entirely bad if someone buys into it. What I'm saying in nutshell is that, not all altcoins are bad investments. Altcoins like BNB, Ethereum has passed that integrity test and owning them shouldn't be considered as bad investments.

[AmaGold70]

We may see the next big Bullrun within 2 or 3 year. However, a short-term rally could occur this year. Each time, many of us are likely to lose money due to wrong decisions. One of the reasons for this is that many new people who are learning about Bitcoin think they are very smart. But due to their lack of skills, they invest in Bitcoin without planning based on luck. In this case, Telegram groups and some social media hype work as their influence.  we should  slowly get out of dependence on all these things.

Many people think of getting rich very quickly. That is why they often waste money on altcoins. Since the price of altcoins increases along with Bitcoin during Bullrun, they spend a large amount of money on altcoins after listening to other people's stories. But this type of altcoin is very dangerous. Which is worse than gambling. Because altcoins are controlled. That is why it is not right to invest in altcoins at any other time also at Bullrun.

Another issue is not being able to take profit. Just suppose  It may found that someone invested in Bitcoin at the beginning of the bull run around $75k. Later it increased to $90k to $100k, then $150k. He waited for more growth but after that the price started to decrease and when he sold it he did not get the right profit. But if they had bought Bitcoin with long-term holding preparation and mentality, then later even after the price increased, he would have been in a profitable condition .

To avoid all these mistakes, it is necessary to give importance to some things. In any situation, if you invest, you should keep the mentality of holding it for a long time. You should do your own research and invest based on the correct information so that you never get scammed by investing somewhere like Altcoin. I hope these thoughts of mine will be useful for beginners. You will also share your experience.

Edited

Bitcoin is undoubtedly the best cryptocurrency to invest, and  concerning the bull season, some investors like to invest when we are already in bull season, and is always investors with short term investment motive, and this idea of investing during the bull season is always wrong because you will definitely miss out on some good opportunities in the market. More also, investors who only invest during the bull run are always impatient and because they look for short term profit, they take their profit very early far before Bitcoin gets to it's all time high.
While Bitcoin remains the best cryptocurrency to invest in, very few altcoins are worth considering if you wish to diversify your cryptocurrency portfolio, such as ETH, BNB, Ripple and SOL and even while considering these altcoins greater percentage of your investment should be in Bitcoin.

[Uhwuchukwu53]

First before going into bitcoin make your decision first are you in for longterm or short term.  If you are in for short term then you can be wary of market conditions  . Your aim is to avoid your money being trap in BTC for long so you will find means to avoid that and make profits while doing so , know that such method far riskier than longterm holding you shouldn’t be bother with market conditions all that matters is how long you can hold and are consistent you are with your accumulation.

I may fully agree with you that time or interval of investor holding is the real factor of panic or most losses in the Bitcoin investment where many got discouraged, one wrong decision is a factor to be properly consider because once it's wrong decision it damaged all that one have targeted towards the investment. Any short time holder should consider itself as more if trading or because the heart must always depends on luck and panic when the market wave is not in order, Bitcoin is not an investment which one without good knowledge will rush because it may even disappoint you not because it can't yeild to one expectations but as fast as speed of light where most investor think those heart that have considered it to be as quick as possible will end up been disappointed.