Both my bids for looks got filled kek. Still waiting for my PYR bid. Scary place to bid but I think that BTC still has legs. 28k within reach in the short term. Just playing bounces for now.
Was chatting with a close friend about his recent Apple long profit. Both of us agreed that the stock/crypto market is indeed a place for sophisticated gamblers. Whales or market manipulators will always exists be it in tradfi or crypto. I’ve heard of many whale stories from close friends working in tradfi industry. People lured into a big ponzi mind trap thinking that one trade is going to make them millions and ends up losing it all. I’m sure you’ve heard plenty.
I know of a person that lost 300k from Luna’s exploit. Really sorry to hear that. But these stories will never end unless human greed cease to exist which is virtually impossible lolol.
These are the group of people (whales) that are able to milk everything outta normies like us because of insider information. As retail investors, you’re already at a disadvantage. Additionally knowledge disparity further deepens the problem.
Put a few newbies at a poker table with experienced players and what do you think will happen?
The least you could do to protect yourself is to arm yourself with knowledge. Only then can you make your own calls and be a profitable trader. Like it or not, if you wanna survive in Crypto, you must learn how to trade and follow narrative. Bare basics imo.
Everything is reflected on the chart, the hard part is extracting information from it and reacting appropriately. Take years of experience. Know when to cut losers and keep winners. Let the chart guide you. It’s your best friend. Find a timeframe that fits you best. Spot and higher timeframe for me personally. Master the crap out of it now and it’ll be easy in the bull run.
The more I learn, the more I realise metrics like P/E ratio, TVL and etc are load of crap. The only reason why something is mooning is because people believe that a certain narrative will change the world. Metaverse for instance. This is why I don’t really believe in these “fundamental” crap anymore. Follow the narrative and it is unlikely that you’ll fail.
Look at how strong OP has been all because of ETH merge narrative? Use this information to your advantage. With this merge coming up, what would go up together with ETH? LRC/IMX? (Literally L2s) pull up a chart and you’ll get what I mean.
That’s enough for information for today. Thanks for reading! Have a good week ahead anons.