These periods of euphoria are not conducive to the development of technical and ideological knowledge about Bitcoin, cryptocurrencies and blockchain. However, gaining new knowledge about the underlying functioning of this ecosystem remains essential.
Take advantage of the price increase
We are currently in one of those periods where the price of Bitcoin Hero is multiplied by two, three or even ten in the space of a few months. These times when cryptocurrencies without any interest, no future and only infused with marketing take several thousand percent. These are favorable situations for investment and profit taking .
In these cases, it is often more profitable to follow trends, to position themselves on very popular projects to make a profit rather than to be interested in the underlying technology. Spending time doing the day before to identify the projects most likely to see their price increase often pays off.
Even though, in reality, at such times, anyone can make money . However, you have to be careful not to be too greedy and take profits on a regular basis. Indeed, the market can turn around at any time and your potential earnings melt like snow in the sun .
Back to basics
Stock up, secure your winnings. They will allow you to weather bearish periods with much more confidence and serenity. Getting back to basics and understanding technology usually comes after speculative madness.
While the majority of small holders resell their cryptocurrency at a loss after buying at the highest point, they promise to never touch these things again. However, a portion of these investors remain.
Be one of those resisters and make the effort you should have made before you started investing. Bitcoin and cryptocurrencies bring real technological, societal and financial advances. Understand them, increase your knowledge and even participate in the development of these networks. Set up a Bitcoin or Lightning Network node, learn how to develop on Bitcoin or Ethereum… The list is endless!
Deepen your knowledge
If you’ve been interested in Bitcoin and cryptocurrencies for the potential gains, no shame. Most of us have been there.
However, when the euphoria subsides and crypto analysts and experts slowly disappear, don’t give up! Take the opportunity to dig deeper and fall further into the rabbit hole.
These quieter times are the perfect times to learn more about the history, ideals, and workings of cryptocurrencies.
Fortunately, you will be able to get through this long winter thanks to the profits made during this better period.