- 1 Who is this article for? What is it for?
- 2 Brief of the history of my participation on this industry
- 3 Why should you start keeping an eye on Bitcoin (BTC) from now on?
- 4 How to seize the opportunity this time?
- 5 When does FOMO officially begin?
- 6 I understand, so what should I do?
- 7 Is investing in this risky?
Who is this article for? What is it for?
Firstly, with nearly 4 years of participating in this industry, I think the situation of the upcoming crypto market is likely to have a lot of fluctuations. And among those fluctuations, there are many opportunities to be created.
Therefore, I would like to write this article, so you can catch those opportunities.
Secondly, recently, many of my friends have been asking me about coin investment.
Therefore, I would also like to summarize a few ideas to guide everyone to have the right directions, and to avoid losing a lot of money when entering the market.
Thirdly, it was written as a projection before the event happens. Because if I sit down to write only when BTC pumps, you will actually read it just for show, but not be able to do anything more.
We are here to invest to make more money seriously from the market, so I will not say anything nonsense to you.
Brief of the history of my participation on this industry
Like most people here, I've partipated in this industry since 2017.
Also, I went through the pump season of altcoin, trend of lending ICO, and the pump seasons of the market, which is nearly 4 years up to now.
The only difference?
In 2018, after BTC collapsed, most people left the market.
I have still stayed until now.
I believe in Bitcoin. I believe in the opportunity to make money from crypto. And most importantly, I am willing to adapt to changes in the market to seize the opportunity to make money.
Those who have been following me for a long time have also known classics such as PundiX (NPXS) x12, Gochain (GO) x5, Phantasma (SOUL) x3 and x5 2-3 in 2018, Kyber Network (KNC) x3, Huobi Token (HT) x2, ThorChain (RUNE) x12 in 2019, or the latest ones including Band Protocol (BAND) x6 in 2020, and so on.
Most of them are medium-term holdings within 3-6 months. And the key here is how among thousands of coins you choose to get 2 - 3 coins to hold.
It is all the result of our investment in research, but we don't have any particular superpower. All are the fruits of learning.
It is no coincidence that in a harsh and volatile financial market like Bitcoin, most people lose and leave the market.
But we still find investment opportunities in it, making money and growing to this day.
Why should you start keeping an eye on Bitcoin (BTC) from now on?
The time I wrote this article is on June 03, 06. Bitcoin is currently around ~ 2020 / BTC which is a little over VND 9,500 million.
Most of the data from technical analysis, fundamental analysis along with the world economic and social situation are unstable support for a long-term uptrend of Bitcoin (BTC).
And if this happens, the bottom of this uptrend is likely at the $ 3800 zone of the March 12 collapse.
A few points to note of this uptrend compared to 2017 uptrend:
1. The current BTC has halving finished => block reward has been reduced to half compared to 1 => 2017 BTC mining cost has increased x1 compared to 2 & the number of BTC mined to push into the upcoming circulating supply is also will be much lower than 2017.
2. Since the peak of $ 20,000 in 2017, the top of the wallets that contain the most BTC have no signs of selling but only collect more => the remaining BTC that can be distributed to newbies is also less.
3. The group of players has been ripping since 2017 after BTC collapsed from $ 20,000 to $ 3000 and the prolonged sideway has made a lot of losses:
- Most of them make short-term profit, money is everything but not trust in BTC so when BTC is low they have sold it long => this file is now out of the market, no longer holding BTC .
- The rest of the group decided to hold on to them and they all understood how valuable BTC was, so they would not sell BTC at this stage.
From (1), (2), (3) it can be seen that the actual available BTC supply that can be traded on the current market compared to 2017 is a lot less.
4. Many investment funds in the world now recognize Bitcoin (BTC) as an asset code and in parallel with the purchase of gold (Gold) they have also spent a part of the asset portfolio (portfolio). ) for Bitcoin (BTC).
There is a 1% fund, a 2% fund and a 5% fund, but in general, Bitcoin (BTC) has gained recognition and needs to buy funds from the funds.
5. Facebook is still developing Libra, recently they rebranded Calibra wallet into a different name.
The launch of Libra will undoubtedly be a huge milestone driving the huge development of the crypto market.
And you know, to enter the crypto world, you need BTC.
Refer to the article: What is Bitcoin (BTC)? A comprehensive guide on Bitcoin investment for beginners
6. Similar to Libra, the nation's race for the development of its own cryptocurrency will be a big push for the entire cryptocurrency market indirectly.
Why indirect and not direct?
- Because countries that make their own digital currency, they think they will come with a set of regulatory corridors for crypto. But if a country has its own cryptocurrency, it definitely has to show people how to use it.
- And what kind of thing, in the process of educating people, there will be a huge file of people they will really start to learn about crypto because of the similar concepts and sometimes use the same words.
7. Social instability in many countries makes the need to move cash flow in-out of a country of the rich ever higher. Speaking of here, Venezuela has to ban people from bringing gold out of the country.
Physical gold is heavy, carried around with both insecure and easily discovered, but Bitcoin (BTC) is not.
8. Economic instability
Covid-19 has fulfilled its role as a catalyst for the new economic recession. Soon there will be a lot of bankrupt companies.
Without coming, from the recent bankruptcy of WeFit or Thai Airways, you also understand how difficult the situation is.
Bankruptcy will lead to unemployed people without jobs. People's lives will be more difficult and their desire to make money will then be higher than ever.
9. The return of the financial MLM pitch
The explosion of financial MLM courts will bring to the market two (1) new players and (2) new cash flows.
If you've ever been to the market in 2017, you'll definitely see how much money the MLM pitches they bring into crypto are.
Even a legendary MLM like Bitconnect has capitalized at about 1 billion dollars. Yes, you're not mistaken, 1 billion US dollars.
Only from a hit MLM at that time and then a series of other follow-up projects such as Regalcoin (REC), Hextracoin (HEX), UcoinCash (UCH) ...
The MLM pitch brings in horrible adult flows and really big cash flows.
FOMO FOMO serial helps create extremely high liquidity and push Bitcoin (BTC) prices to no end without recovery.
$ 20.000 was the peak of Bitcoin (BTC) in 2017. If Bitcoin rises above the previous peak, I really can't predict where it will be next.
Maybe $ 32.000, maybe $ 68.000, maybe $ 80.000, maybe $ 100.000 ...
No one could have foreseen because Bitcoin (BTC) was so new and it was discrupted. That is, break off the things we have known before.
You do not believe?
Just look back at how BTC increased from $ 1000 to $ 20,000 in less than a year.
So, if BTC really returns to the old peak, it is likely that a lot of FOMO people will buy more, causing the price to rise suddenly without stopping.
If (1), (2), (3) showed us the movement of supply (4), (5), (6), (7), (8), (9) has shown us a huge demand right ahead.
All of these resources are in a state of ready (ready) waiting to activate.
The domino cards seem to be very sporadic but seem to be in place. Just one fuse, the domino effect will start and the number 10. FOMO will be the last domino in this draw.
Everything will happen very fast in a way that no one can react promptly. Therefore, in order to seize this opportunity, we need to prepare now.
How to seize the opportunity this time?
First, at the national level: Vietnam should quickly launch a legal corridor to control the opening direction.
Need to manage to:
Make sure to create a transparent and healthy playground.
Limiting scam cases.
Attracting crypto investment flows from countries around the world to Vietnam.
- Crypto startups are struggling to find a country for themselves and crypto startups are often invested a lot of money (yes, a lot of money). So if you collect a group of startups, the money flowing into Vietnam through these startups is untold, more than traditional startups.
- Just look Binance started an 18-month business to become a billion-dollar company CZ CEO Binance became a billionaire himself after 7 months of starting a business.
Secondly, for individual investors: It is necessary to quickly learn the knowledge of Bitcoin (BTC) and the crypto market in general to understand and take advantage of opportunities.
If you don't know, come up here to learn => Coin98.NET
This is my blog and some brothers have been with the market for the past few years playing and rewriting. So if there's something you don't know, go ahead and look it up and find out.
And if you've looked up and found out and still have questions, then this group asked:
In the group, there are admin who are hard traders. If you don't know anything, you can ask, the admin will guide you.
This industry is new, just help each other up!
When does FOMO officially begin?
Those who play longtime coins know the relationship between BTCUSDT and USDTVND. In the market of old players, when BTCUSD decreases, USDTVND often increases and vice versa, when BTCUSDT increases, USDTVND often decreases.
That's a pattern already, there's no need to argue.
What we need to monitor now is that there will be a segment, when BTCUSDT increases and USDTVND also increases.
It is a clear sign that the market has started FOMO and new cash flows have poured into the market.
At that time, you have to focus on earning money, not the opportunity to come back all the time.
I understand, so what should I do?
You need to prepare two things:
The first is USDT:
- When the FOMO confirmed market has started, then the price of USDTVND has soared.
- USDT price is still 23x higher today, but it was good enough to buy. In uptrend you may have to buy at 24 25 even 26,000 VND / USDT then peaked again.
The second is knowledge and experience:
- These two are already mentioned above. Just invest in learning to play and make money. If you do not want to find out, do not put in effort, want to sit still and still have money, go online and watch Mr. Huan's video!
- The knowledge and experience you need to know I've written on the Coin98 blog, you just read all, do not understand then ask.
- The more you try to learn, the less destroyed in the market.
Is investing in this risky?
I answered always. Invest in something without risk. Finding a risk-free deal is the same as finding a holy grail in trading, it doesn't exist.
The right approach should be, whichever market is risky, important that there are risks that are less risks.
Bitcoin or Crypto is a high-risk market. And the high risk, I manage the risk according to its style. Not because of that fear or run away.
High risk, it is exchanged with high profits only, nothing to fear.
We are facing a huge financial wave so far. I don't play other asset codes so I don't dare to comment. But with crypto, if you are interested, I have some short notes like that.
Hopefully it will help those who have the right approach, prepared enough and caught the opportunity.
May the force be with us!
Founder, Coin98 Finance
Disclaimer: The article is completely subjective opinions from personal experience, not considered investment advice.