With a crypto bull run around the corner, you want to be ready for it. However, you need to have all your ducks lined up if you want to be successful.
That’s why it’s time to get organized. This is Part 1 of a two-part series. So, we have a list of 10 lessons to help you prepare for the next crypto bull run.
1) New Coins Perform Better
There are a few reasons why new coins perform better. For example:
- There are no bag-holders underwater from the last cycle who are looking for an exit
- They can have more explosive pumps because their circulating supply is smaller.
- New projects most likely are a better version of their predecessors.
~ Altcoins tips ~
One of the most important things I learned during my years in crypto is that new coins tend to perform insanely better than old ones.
As crypto is still mostly driven by speculation and hype, new shiny projects are like a magnet for the herd.
“This new…
— ZERO IKA 🗡️ (@IamZeroIka) June 16, 2023
Some older projects may still do well. In general, altcoins only perform well during one bull run. So, have some dry powder so you can join new projects. They tend to outperform the older projects.
2) Focus on Strong Projects
Don’t get stuck on projects that haven’t pumped yet and are lagging. This applies more to short-term traders instead of long-term investors. If a token hasn’t been pumped yet, for the short term, it may be best to look for another token.
Just a reminder#Meme tokens are hot atm & everyone tempting to jump in but most of the memes will plummet to zero
Strong fundamentals always prevail in the end. Don't lose sight of the long term picture, stay focused on building a solid portfolio that will stand the test of…
— Niraj Singh (@nirajhodler) May 8, 2023
To keep holding lagging tokens may cost you. Strong tokens are more likely to give you positive gains. There’s a reason they’re strong, so they’re most likely pumping.
3) Cultivate Your Social Media
The information stream on social media is immense. YouTube, Twitter, and Telegram are also free. Make sure to concentrate on the good information. If you’re serious about your crypto journey, reduce your Facebook, Instagram, and TikTok time. Instead, organize your subscriptions, lists, channels, or chats.
It may be worthwhile creating dedicated accounts for this purpose. Start a set of new accounts and add projects that you like or follow. Make sure to DYOR each project. It doesn’t matter what influencers say. You need to believe in a crypto project that you researched yourself.
4) Change Your Life When the Time Is Right
This means that you shouldn’t keep sitting on life-changing bags during a bull run. Don’t be afraid to take profits on the way up. You can’t time the top, so don’t fuss about missing it. Remember, the profits may be life-changing. If you wait too long for that extra gain, you may run it into the ground, and you’re left empty-handed.
It’s important to have a good profit-taking strategy. For each step up in gains, you can take out a fixed percentage of profit, each time. Make a plan and stick to your plan. Don’t look back after the bull run at your unrealized gains.
When real crypto bull is back and we enter later stages of the cycle, you should prepare a profit-taking strategy now
If an altcoin has risen too sharply, profits must be taken without emotions
Last cycle as example each of $LINK, $ADA and $SOL had a different timing of the top pic.twitter.com/F5jm332AKq
— Officer Donut (@creepzander) November 27, 2023
5) Your Health Is Everything
Make sure to stay focused and healthy. A crypto bull run can drain your energy. It can affect your focus and make you apprehensive. Take care of your diet, make sure you get enough sleep, and if possible, work out. This will benefit your productivity.
Conclusion
With the crypto bull run warming up, you want to be ready to tackle it and get the most out of it. So, here are 10 lessons and tips to stay focused and have the best opportunity to maximize gains. This article was inspired by this post on X.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers, and their risk tolerance may be different from yours.
We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments, so please do your due diligence.
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