Feeling hyped by the FOMO!

2023-12-25T18:48:30

Hello, my dear hive fellows. I can still remember in the national TVs and radios, the buzzing sounds of "Blue-whale" game's and the mysterious deaths all around the world. With the game, another buzzing word 'Bitcoin' started getting attraction in the social medias and in the mainstream medias. Many people started to loosing BTC as most the links supposed to be the blue-whales game is fake to scam you. Even I have watched a program where the journalist paid a handsome amount of BTC to get the game link but in vain. Another videos that can remember on YouTube, the video of a guy using Bitcoin to purchase two pizzas? That was in 2016. Back then, cryptocurrency was a lawless frontier where anyone can do with it anything.

I was then started learning about bitcoin and the overall concept was so attracting for me and there was so many websites I can remember I have tried to earn some few satosi. I ahve also earned some but I couldn't save those as I had no idea about the security concerns as a result I was a prey of some scamming and phising! Eventually, the 2016 bull market was powered by the unbelievable enthusiasm from the people from around the world. Bitcoin soared from a few thousand dollars to twenty thousands dollars, bringing the whole crypto market along for the trip.

But it was my exploration time and the sudden crash that returned me to the earth which led me to learn about the market manipulation and the knowledge about the bitcoin halving and so on. I can remember the adage "what goes up, must come down"? In crypto, it comes down quicker than a sugar-crazed kid. The 2016 collapse served as a harsh wake-up call for me for the first time.

Fast forward five years, and we're back here. 2021 was a repeat performance, with Bitcoin reaching fresh all-time highs and the cryptosphere humming with frenzy. But this time, I was a seasoned vet, damaged but not broken. I'd learned the game the hard way, and I was determined to play it smarter rather than harder.

After a long waiting and the massive crash in the 2020 when I have already left the space as I had no significant investment but I had around 60K doge which is I bought for long term but some crisis make to to sell for 3 times gained. But I missed the over 200 times rally from my entry later when Elon Mask make the doge to skyrocket in a short period of time. I rode the 2021 bull run, but with more careful with multiplying my little investment. I diversified my portfolio, avoiding the seductive call of shitcoins offering 1000x profits.

And I again faced the downtrend rally again as it is the wellknown journey for the crypto world. The May 2021 collapse slammed the market like a rogue wave, putting it into a situation when the world is also suffering from the Covid-19. Bitcoin dropped, followed by Ethereum, and the other majore currencies and many evolving projects have died completely. While not exempt, my portfolio fared better than the majority. I'd learned my lesson from 2016, and I had already cashed out most of my funds and keep a portion which I have started investing some Blockchain based games where I have not gained a lot due to the failure of the 4 out of 6. But I have cashed out significant portion in times which is a great learning from the experience that no project is 100% profitable and all of them has a big risk.

One thing I have noticed during the 2021 collapse: the game was changing about the market manipulation. The big guys, institutional investors, were now venturing into the crypto seas, bringing their own brand of deception with them. The days of a single whale causing a market panic are long gone. It was now a sophisticated dance of algorithms, laws, and large money, making it more difficult for the ordinary people to forecast the next move than ever before.

For the first time in late 2020, I started learning the facts about the technical analysis which I didn't notice or followed in early days as I didn't have so much funds to trade. The intriguing area of technical analysis is also enjoyable and interesting. It's like decoding the market's code, utilising charts, indicators, and lingo like "Bollinger Bands" and "MACD" to forecast future price moves. While there is no such thing as a crystal ball, studying the fundamentals may provide you with a vital advantage by helping you to notice patterns, identify probable support and resistance levels, and make you capable of good choices. But keep in mind that technical analysis is not a magical spell. It is only a tool, not a guarantee.

Another important thing that I have become matured in securing my funds in th different types of wallets. Security is critical in the crypto world. Your coins are like gold nuggets in a lawless bar, and there are plenty of digital bandits out to steal them. I have also lost several time in my journey. So, mates, pay heed and pay attention to these security essentials which I think very essential for your crypto journey:

  • Your best friends are strong passwords and two-factor authentication (2FA). Make them very difficult to decode. 2FA acts as an additional layer of protection, similar to a password-powered security for your crypto assets.

  • Be cautious of phishing schemes. Emails and websites offering free money or huge profits are often honey traps placed by wicked hackers. Consider your options before clicking, and never input your private keys on anything that seems even vaguely questionable.

  • Keep your cryptocurrency in a safe wallet. Don't just leave your valuable treasure on exchanges. To keep your cash secure from internet criminals, invest in a hardware wallet, similar to a sophisticated digital vault.

  • Keep up to current on security concerns. The crypto world is always changing, as are thieves' techniques. Keep up to date on the newest scams and security flaws.

Predicting the future is a harculean task, particularly in the volatile nature of cryptocurrency is the most common thing here. However, based on my seven-year adventure, I feel that the growth of institutional adoption will continue. Large sums of money are flooding into the cryptocurrency market, offering respectability and stability. Expect more conventional financial institutions to provide cryptocurrency services and products. Regulation will become more important. Governments are now seeing the promise of cryptocurrency, and laws are unavoidable. This may result in improved consumer protection and market stability, but it may also inhibit innovation and the main moto of the blockchain technology in some extent.The next wave of expansion will be driven by technological improvements. Blockchain technology has the potential to transform several sectors, including banking, healthcare, and supply chain management.

Still, we are on the surface of the deep ocean of the blockchain technology. We are all pioneers in this digital world, and the decisions we make today will determine our fate. So, trade wisely, be informed, and, above all, keep exploring! Thanks for your time and attention, if you have any queries, you can ask in the comments which will help us to grow together. Have a nice day!

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