Crypto trader regrets not catching the top of the last bull run
Are crypto traders playing “god?” The world of cryptocurrency trading can be highly uncertain, yet many are actively looking for opportunities and have built fortunes around the crypto market. To be really good in crypto, you need to be able to identify promising projects in their infancy and time your exit from the market before the ugly bear rears its head.
On this week’s episode of the newly launched podcast, Hashing It Out, Cointelegraph’s social media specialist Elisha Owusu Akyaw and chartered market technician Adrian, also known as CRYPTOBIRB, break down the state of the cryptocurrency market and the journey of traders.
Adrian explains that he began trading during the peak of the last bull run and assumed that he had excellent skills even though the market was generally moving upward. He describes what he experienced in the early period of his trading career, a first timers luck that led him to commit an “unforgivable sin.”
That luck ran out as the bear market kicked in. According to Adrian, he had to watch all his profit return to the market. The shock and uncertainty attracted the now-famed trader to technical analysis. The new journey to understand the crypto market involved several books that aided Adrian in understanding the basics of trading. Despite his newly learned skills, Adrian did not see the bear run coming.
Adrian remained optimistic despite the fall in the total cryptocurrency market cap and the Bitcoin (BTC) price, which had dropped below $30,000 in July 2022. The famous trader stayed bullish regardless of the bearish sentiments that were obvious to many. This led to him making major projections, such as Bitcoin hitting $100,000 at the peak of the bull run.
The overconfidence, according to Adrian,
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