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Bitcoin Forum / Re: Focus on knowledge, build up belief, then investment plan, success will come.
« on: May 18, 2024, 05:16:34 PM »I think the goal should more of not doing exactly what others are doing, to try and modify what others are doing and not necessarily do the opposite, because in some cases, everyone could be doing the right thing but not doing it well, so doing the opposite means doing the wrong thing while trying to do it right and the result would still turn out to be wrong.I think doing the opposite of what everyone does is not just as easy as it is because we all know the fact that we should atleast have enough knowledge in doing so before we proceed to something like jumping into it fully. It also requires patience, effort, consistency and capital before achieving success but yeah that is not that easy as we all know it needs a lot of time prior to hitting the goal.
See two charts and discover a fact that intelligent investors bravely buy in bear markets, when most serious tests on their belief and mentality. Price did not hold if there are not strong believers and investors. It's not luckiness for Bitcoin, Gold and their investors to hold price in bear markets and tested in many bear markets in history. Their cycles can be longer or shorter but you can see how psychology of market cycle works.
Just as Rothschild said , buy when there is blood in the streets:
The point is not go with buzzworda and trends. We want to be doing the opposite of everyone. Buying when the price is falling, and selling when the price is hitting ath or close by
I didn't start to sell in this cycle yet, I plan to do so after we pass 80k. I hope we do soon
The crowd have a way of making an effective approach look or provide ineffective results, so the best thing is not to follow the crowd but to modify what they're doing and make it a lot more effective.