As the crypto market falls fast, KOLs or influencers start to predict futures and draw fantastic lines and resistance and support lines on their charts. Many of those disappeared since the 4th quarter of last year as BTC and Solana reached ATHs.
In my view, the KOLs have an identical point: they talk about worse or worst-case scenarios that make traders or investors nervous about an upcoming disaster. As a result, rookie investors start to beg the KOLs for many things about the timing and the price of the bottom.
Generally, in this tough season, a large portion of immature traders or investors want to rely on TA and KOLs because they feel nervous and worry so much about the crypto future and the instability of their assets. If this tough season keeps going on, I guess that many KOLs will start their subscription services that ask for a substantial monthly or yearly payment from desperate investors.
This is the time to step back, look around, and gaze over the horizon. If you do not have any TA capability but know a few core competencies of your investment targets, check those again. If you think those have real value and capability to survive, you can keep them with a long-term view. Please do not just take the positive points to make your decisions look reasonable.
Even though the asset you bought has some positive vision, if there are higher-performing and more valuable asset replacements around, your decision will be very painful. Be objective and throw away your love for the asset you bought.
