Lesson from the current condition of the crypto market

[issimos]

Since the retracement of Bitcoin, the market has become boring. Sometimes, the direction of Bitcoin is unclear. For example, recently, the price action of Bitcoin has been confusing. I have learned one thing in these recent days: as a crypto trader, do not rely on trading as your only source of income. It is good to have another source of income like real estate, staking, crypto jobs, and other legitimate sources of income. If I say that I will force a trade now, it can end up in a loss. I have staked some of my trading capital in my Bitget Saving account to enjoy the 20% interest rate. I will open trades again when the market's direction becomes clear.

What is your take on this?

Edited July 9 by issimos

[Lopis]

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[DediRock]

On 7/9/2024 at 9:51 AM, issimos said:

Since the retracement of Bitcoin, the market has become boring. Sometimes, the direction of Bitcoin is unclear. For example, recently, the price action of Bitcoin has been confusing. I have learned one thing in these recent days: as a crypto trader, do not rely on trading as your only source of income. It is good to have another source of income like real estate, staking, crypto jobs, and other legitimate sources of income. If I say that I will force a trade now, it can end up in a loss. I have staked some of my trading capital in my Bitget Saving account to enjoy the 20% interest rate. I will open trades again when the market's direction becomes clear.

What is your take on this?

I completely agree—trading can be unpredictable, especially with Bitcoin's recent market behavior. Having multiple income streams like staking or real estate is smart. And it's a solid move to stake some of your capital while waiting for clearer market trends.

[tradesprint]

Bitcoin and the crypto market made a lot of millionaires and at the same time took those millions back due to it high volatile behavior. I guess these markets still require some time to reach maturity similar for forex trading market.