134 shares, 347 points

Bitcoin’s $67,000 ATH would have proven to investors that cryptocurrencies will be on the market for a long time to come. Now, with the last two months until the end of the year, many people are expected to enter the market in the next six months. Cryptocoin. com

According to Youtuber and crypto phenomenon Lark Davis, whose analysis we share as , there are ways to create and maintain financial freedom. Here are some of them about cryptocurrencies…

Do not emotionally bond with crypto coins!

Lark Davis says that many investors form an emotional bond with the cryptocurrencies they have in their wallets. According to the analyst, there is a ton of speculation surrounding altcoin projects. Therefore, most of the time the money flow gets involved in cryptocurrencies accompanied by rumors and then ends in destruction. To avoid these, the analyst says:

Do not marry speculation bags of NFTs and altcoins. Of course some may last long, but most will fail, so choose wisely, reduce profits and raise capital.

Winners and losers

Cryptocurrencies like Bitcoin, Ethereum, Polkadot, and others are known for their origins, and double or triple digits are considered normal. Investors can avoid “pump and dump” investments by taking risks in this direction. Meanwhile, Davis also recommends focusing on winning cryptocurrencies:

Cut the losers and recover any capital left in the loser’s purse. Don’t be emotional about it, do it without mercy.

Altcoin projects should be functional!

Davis also underlines that projects that touch on real-world problems are preferable, rather than just making money. It’s important to stick to a credible plan, according to the analyst. If projects really do work, then it may only be a matter of time before they find the value they deserve…

Explore beyond Bitcoin

If you want to get rich with cryptocurrencies, it’s not just limited to Bitcoin. According to Davis, Bitcoin can be valued 20 times in 10 years. But most altcoins do this every month. According to the analyst, alternatives can be given a chance besides BTC.

If you want to earn money that will change your life, for most of you, this will not be done with Bitcoin. Altcoins are for earning, BTC is for holding.

Cryptocurrencies are an area open to exploration

Davis also observes that many crypto investors are stuck on Coinbase. According to the analyst, this is a huge financial mistake. Those who only prefer Coinbase cannot access the world of DeFi and NFT for fear of downloading Metatask and connecting it to an app. Davis says:

When Coinbase started listing these coins, people who bought them on Uniswap six months ago would be selling them.

You are your only enemy!

Davis said in this thread:

This market is wildly volatile and many people fall into the FOMO (fear of missing out) trap – buying high and selling low until they break. The reverse should be the opposite.

Cryptocurrencies and profit timing

Finally; get profit. Davis concludes by saying that it is important to remember that investing in a market that can evaporate in an instant until you take a profit:

Taking profits is one of the most effective risk mitigation strategies, so learning how to take profits is essential.

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