Get Ready For 2023

We are in the final month of the 3rd quarter of 2022. The year is flying along.

Unfortunately, for those involved in cryptocurrency, it might feel like trudging through molasses. We are mired in a bear market that is still holding strong. In fact, we cannot call it over yet. There could still be more pain from lower levels to go.

With markets, it is hard to predict where they will go. Crypto twitter along with other places have many people making guesses. At the end of the day, that is all they are doing.

For that reason, we will leave the rampant speculation to them. Instead, we will focus upon what we need to do in preparation for the next bull market, whenever it decides to hit.

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Epic Highs

It is safe to say the next bull run will reach newer highs. This is in keeping with the long-term trend of higher-highs. The bear is difficult to deal with yet could provide a springboard for a powerful run higher.

The cryptocurrency industry as a whole is expanding. We are seeing a great deal more development than was present 5 years ago. During that period, we were ending the ICO craze that took over crypto and about to head into a multi-year bear market. This one should be shorter simply due to the fact we have a lot more taking place within the industry.

Of course, we have to be mindful of the larger picture. Here is where the economy, geo-politics, and other macrotrends enter the picture. Crypto does not operate in a vacuum and we should not treat it as such.

Another factor we have to consider is risk. As of this moment, crypto is still a risky asset. It is not the safety arena many espoused. Bitcoin was slammed, destroying the notion it was a hedge against inflation. What we are left with is the realization that crypto will be dumped when people are fearful.

This is a powerful lesson to know. Because of that, when risk is back on the table, we can easily see the market reversing. As sentiment reverses, we can see how crypto is going to come back into the picture. FUD reigns supreme now; FOMO will be on tap during the bull.

We can look into 2023 to see the bull showing up. This is a guess that makes sense to me.

Don't Be Greedy

Now that we are experiencing another cycle, it is best to drive home this point.

The industry is maturing enough whereby people need to get sensible about what they are holding. This bear market cleared out a lot of trash. Many projects imploded as soon as things started to tighten. Those companies that were overleveraged are now awaiting a date in bankruptcy court. This is a warning sign to all of us.

We have to focus upon the core projects that we feel optimistic about. This is a time for filling the bags and increasing our holdings. When the bear is out, fill 'er up.

However, as the bull starts to get more powerful, we need to resist the FOMO. Greed can be fatal. For that reason, we need to focus upon getting some money off the table. Riding the ups and downs is okay in the early stages. We are now getting to the point where a massive move could be life changing money for people. If one was busy during the bear, this is highly probable.

To lock that in, we have to sell some of what we are presently amassing. Taking profits is always a good idea.

Therefore, hopefully we will see things reversing the end of this year or the first part of 2022. That said, the message is to start thinking about levels to lighten our bags. The next year will likely give us some opportunity for profit taking, something that could reposition our financial livelihood.

Article by @taskmaster4450le

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