NOTICE: Lasna testnet will go offline Wed, Oct 7 12:00 UTC for migration to CometBFT.
Up to 3 hours downtime. Transactions, subscriptions, and callbacks won't process. Mainnet is unaffected.
Next stage will be announced soon!
Details ๐ https://t.co/yhNOrK2XSq
IMPORTANT WARNING!!!!!!
You are in DANGER!
Crypto prices are rising... which means 1 THING !!!!
Confidence returns.... the higher prices go, the more sure everyone becomes that the price will continue higher....
but there is a paradox to this... and it is the MOST important thing you can learn in crypto.
When Bitcoin was at $58,000 not that long ago, everyone was so sure it would go lower.. making it a very very scary time.. Most will never buy because they are certain it goes lower... The brain sees the pattern and listens to everyone else who thinks the same as they do...
- but at this time (58k btc) at worst it could have got 5-10% lower... making it in reality a very safe time to buy.. Think of the window cleaner 1 story up.. if he fell, no big deal.. he survives..
Now as prices rise DO NOT forget this......
Once bitcoin regains $100,000 and heads towards maybe $120,000 or beyond, everyone will want to buy. The human brain will tell them the pattern continues, it must keep rising, more people will agree that it will and everyone will gain comfort in this.. They will begin selling things to buy more, they will save their money and make sacrifices to add more..
BUT as the price gets higher, while it feels safer, you are now 100 stories off the floor cleaning the windows... with every price rise you're getting winched higher and higher, the potential for the fall is more and more brutal.
HERE is why 95% of people don't make money.. They think they are in danger when they are at 1 story height and they think they are invincible at 100 stories. The opposite is true..
As price rises, think this to yourself...
Who else is left to buy after me, to help the price get higher... how early am i? If your friend is saying to buy, and the taxi driver, and the barber, then chances are there aren't many left to buy... Which means all those smart people who did the opposite of the market sentiment from February to June when the crypto bottom was in are running out of people to sell to...
and remember... they have made X multiples on the way up... their $100,000 is now worth $500,000 or more... How many new people that are non crypto natives need to come in to buy that $500k to keep price from falling??!?!
GOOD NEWS...
Right now it might feel like most people are bullish... They aren't.. the biggest crypto influencers in general are bearish and their audiences are HUGE. Suggesting that their audiences are seeking confirmation that they were right to wait to buy later on = means they are sidelined..... Which means there are A LOT more people to buy and force prices higher above..
Make sense??
just remember.. if you feel like it's an amazing time to buy more and more and you start to visualise yourself quitting your job as soon as you hit that next 2-3x or whatever... That is the exact time to start taking profits... And if you are lucky enough to see BTC return to $75k or lower and it feels like it will keep pushing lower and you feel like you should begin to sell up... then chances are it's a great time to add more..
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