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With the price of Bitcoin reaching its highest level in 17 months, investors are now expecting the end of the downward trend. While it was disappointing and concerning for the king of cryptocurrency to lose $30,000 last year, now investors are equally excited as the tide turns. In the midst of signals that we have turned the corner, a senior crypto commentator warns those waiting for a bull market.
Caution in the Crypto Bull Market
Popular analyst Miles Deutscher, closely followed by the crypto community, emphasizes the importance of Telegram and Discord as the bull market approaches. This is significant because during the bull season, news flow serves as a multiplier effect. For example, if the same news for Altcoin X came last week instead of this week (news of great importance), the price would rise even more. For example, we can refer to the Binance Futures POWR listing or the announcement of FLOKI’s sibling token, which came today.
“Now that market conditions have become more favorable, watch rallies driven by good news.”
Deutscher also states that as market conditions change, the profit potential of altcoins will increase.
“This will have a positive impact on many altcoins and create new investment opportunities.”
Advice for Investors
Listing all the advice in bullet points can be beneficial for investors. It is not certain that a bull market is imminent, but if the last bull market has not passed, you will need this advice in the future.
- Stay alert for new opportunities.
- Keep a close eye on announcement calendars.
- Volume indicators provide important signals for major movements in bull markets. If the price of Altcoin X starts to rise along with volume, higher peaks may be seen.
- It is important for investors to adjust their profit levels in bull markets. If the price has reached satisfactory levels, you can try gradual selling to avoid regret when it falls.
- Pump/dump cycles in bull seasons are bigger and faster. You may find that while catching up with the pump that started in Altcoin X, the price suddenly rises even more and crashes unexpectedly.
- If you are engaging in short-term trades, it is usually advantageous not to exceed a few hours in a bull market.
- Buy-ins for long-term goals in a bull market do not usually yield high returns.
- When BTCD starts to decline, the rise in altcoins is generally expected to accelerate.
- If you constantly prefer to sell losing altcoins over others, you will generally experience the opposite, i.e. the ones you sell will rise while the ones you buy will fall.
- You should follow the news more than ever and be familiar with the current situation, expectations, and calendars in the agenda.
