11.12 Control your mindset! In a bull market, there are big gains and big losses!
Last night, the price of Bitcoin was still around 81,600, but as it approached the early morning hours, Bitcoin started to surge, reaching around 85,000 by the time it hit midnight.
During the early morning, Bitcoin continued to break through, rising until this morning, reaching a high of around 89,700, just over two hundred points away from the 90,000 mark. Bitcoin has truly been very strong these past few days.
In yesterday's article, we analyzed that Bitcoin might give a short-term pullback, but we underestimated the strength of its upward movement. After a slight pullback, it surged again and immediately broke out for a larger increase.
Of course, we also mentioned yesterday that now is the stage of the bull market outbreak, and it depends on whether one can boldly get on board and leave enough room for stop-loss. If you lack experience in bull market operations, it can be very easy to incur losses, because while there is a significant rise in the market, there are also considerable pullbacks.
If your leverage is too high, it can also easily blow up, especially in this crazy rising market phase, where people are most prone to greed and also very afraid of missing out. Therefore, those with unstable mindsets can become very aggressive.
It’s rare to have such a market, only two opportunities a year. Looking back, the times of crazy rises didn’t last long; the truly wild market was just about one or two weeks, with the rise lasting perhaps just a month, followed by fluctuations and pullbacks.
So, to seize opportunities, one needs to have some experience in a bull market. Everyone should take this opportunity to practice a bit; you can slowly wait and learn to operate. In this bull market, practice with a small position first, and when the next bull market comes, operating with experience will be better.
The reason for mentioning this is also because many newcomers have entered the market these days, and they don’t even know how to buy Bitcoin. So it’s important to emphasize, if you lack experience, it’s best not to operate with a large position.
