The crypto market is going through a massive volatile situation. It is quite certain this scenario will continue to be this way, until a good indication of news arrives into the market. If that expected news, brings in some positivity for the market, we might see a good recovery for the overall crypto market. Or else the fear and greed index is showing how fragile the fear marker is, in the current condition. We are aware what actually happens when the ticker of fear hits more than the greed index. We are most likely in, for sell pressure in the coming days. Either way month of December is going to be one of those volatile months, where expectations will meet reality in a severe unbalanced way.
The biggest fear for a person who spends their time, effort, money in crypto is the bear season. That's because multiple scenario hits us in the face. The price impact in our mind, portfolio taking a hit, watching your researched coins going under your buying zone, nothing left to do DCA and at last you are left with is, to hold onto whatever you have, which you gained through the bull market! That feeling is literally painful.
Now, with the current scenario it is literally difficult to say what is awaiting for us in the coming days. As things are different right now compared to 5-10 years back. As of today, crypto adoption is taking places across the goble. New money, new people, new institution, big shots are flowing into the marke. Which was not possible few years back. Thanks to ETF and multiple countries acceptance of crypto has given the opportunity for common folks to get knowledge about this digital world.
To be honest, the situation has become a double edged sword right now. With new people/institution flooding into the market, the risks of FOMO and panic sell has also increased exponentially. We are already being able to see the results of those scenarios in the present times.
The most controversial truth regarding cryptocurrency market right now is the influence of a public figure. In the recent times, we have witnessed how a public figure can easily manipulate the crypto market to their benefits. Millions were grabbed from the market and deposited into their markets. While common folks were left with nothing. The HYPE has clearly played a crucial role in here. 'Get Rick Quick' scheme played mind tricks for newbies and many old folks of the market fell into this honeytrap.
'Be very careful of who you are listening/following for advice in the world of crypto market!'
Any common face can have a huge impact in the market. The market has become literally fragile. Nowadays, anyone with a good social media presence is able to make a ridiculous impact in the crypto market. Almost everyone of those collision has impacted the market in worse ways than of good.
Impact of influence, in crypto market will keep on going worse. It will not be an easy way to deal with. Now that mass adoption is taking place, it's better to do a full on research before diving in any sort of investment in crypto. As every cent that you earn is going to yours and yours only, while loosing each one is also going to be the sole responsibility of yours.
The next coming years are going to be more than interesting. Because either it will be world for those who took risks during times such as this and kept on grinding to gradually increase their position and we're able to hold onto what they had till the good day arrives or it's the other way around. People being called idiots for being this much dumb to invest in something which is literally impossible to hold onto aka digital money/cryptocurrency.
To this date, I still listen there are folks who claims, if youa are not able to touch your earning like you do in physical businesses that money is not yours! I just listen and keep on nodding and decide that time will speak for itself and we will know what really awaits for us.
What do you think? Are we really going for the next bear season?
