Bear Market Gold Lesson: With Cryptocurrencies, You Must Learn to Separate the Wheat From the Chaff.
This is the perfect time to do what should have been done before.
No matter what markets you invest in, the same aphorisms will come up again and again. Everyone has heard the following two at least once:
“Buy the Rumor, Sell the News.”
“The stock market can remain irrational longer than you can remain solvent.”
The great strength of these sayings, the last of which is attributed to John Maynard Keynes himself, is that they are often right. In the Bear Market environment in which the cryptocurrency market finds itself, the most appropriate aphorism would be:
“It's only when the tide goes out that you learn who has been swimming naked.”
In recent months, the cryptocurrency market has fallen sharply. In November 2021, when the price of Bitcoin reached an ATH of $69K, the market cap of the entire cryptocurrency market was almost $3,000 billion. That market cap fell to $2,000 billion in mid-April 2022, before plunging slightly more than 50% just below $1T today :
After briefly touching $25K in May 2022, the price of Bitcoin is now around $23.7K, its lowest level since late 2020.
Keep reading with a 7-day free trial