Maintaining a great psychology in trading, holding any asset and more over is a high volatile asset such as cryptocurrency.
There are no Layer 1, layer 2 blockchain built the same and serve the similar function. Therefore, their survivability in the saturate crypto market are thin and everyday , each currency live on due to it utilities and mass adoption. FUD and market uncertainty brought the market to a stagnation which most of the trader calling it at kangaroo stage.
With recent crypto winter that had begun since 30 October 2021 where it hit the peak of 3T dollar of market cap and drop to 1.7T dollar (as record during this article is posted). How would you ensure your psychology is well maintained and continue to stay in the game?
Is crypto going to die? Should I continue to hodl or sell?
There are few fundamental and news we could look into if crypto itself will be long lasting.
- Seeing crypto as a tech stock (applied to few only)
You may check out how Shark Tank' investor Kevin O'Leary says about crypto similar to tech stockHere - Market have its cycle, usually it was affected by the news. ie.: US Fed increase interest rate, sudden ban from crypto major countries.
This is not a financial advice, but it should be a starting point for you to explore further and develop your own point of views.
