The current crypto market seems to be in a place where things are not certain and even difficult to say what would be the next market move. Bitcoin price has been moving around 30 USD and now when I am drafting this post its price is 29700 USD. It was expected to reach 32k but it did not happen and even there is a lot of fear in the market. If we look at the historical greed and fear index then also there is a lot of fear in the market. This is the situation more people try to stay away from buying and even weak hands get scared and sell of their holding. When the price starts rising then more people get greedy and want to buy to book some profit and that creates a FOMO situation but looks like we are way far from that spot and it does not seem to happen real soon.
I am not a trader and I trade only a couple of times in a month in this type of scenario even though I keep myself away. I have some coins on my wishlist and it seems the current price is not but I am getting greedy in this fearful situation and this is why holding myself to placing the order. I expect that price will down further and if it happens then I will be able to get more coins for the same amount and since I am holding USDT so not worried about the market as its a stable coin.
Here is the crypto Fear & Greed Index for the last 3 months and this chart the downtrend shows the extreme fear and the uptrend is for a higher amount of greed. This has been continuously falling which shows the extreme fear in the market and if it drops further then it simply means that fear is increasing in the market.
This is definitely not the time to sell and hold all the assets however need to be carful for buying because if the market drops further then current buying can be loss-making. The better way is to buy in parts so if the price drops further then buy again and this way we can average out the price. I feel that this is time to hold and also to buy but with care and DCA is surely the best way to move forward.
Its a good time to buy for those who are here in crypto for the long term because in the long term things will improve but hard to predict how howmuch time it will take. It may take a few weeks, a few months or even few years but this is something we just can not predict however we can continue to accumulate more in this period when prices are low for bitcoin and altcoins both. Crypo investment is not a way to get rich overnight instead of its a kind of journey that might take years of time and if proper strategy is followed then there is nothing to worry about it can give huge returns.
Thanks for reading.
