Don't try to buy the dips indiscriminately. Since the October 11th incident, the market has clearly been acting strangely. The daily recurring rallies and sell-offs are essentially a way to liquidate leveraged positions. Recent market movements follow the same script; large funds have already been gradually exiting the market, while retail investors have been repeatedly shaken out over the past few months. Now, caution is advised, rather than blindly following anyone's advice to long. You were lured into buying by FOMO months ago, and now your account is stuck with paper losses. The only truly meaningful buying activity in the market right now comes from DATs, such as institutional holdings like MSTR and BMNR. Apart from that, almost no one is actually buying to try and buy the dips. The probability of a widespread panic sell-off in the coming weeks is extremely high. Preserving your principal is the only thing you absolutely must do right now.
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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