Panic and hype are cousins, they both appear every time BTC moves alot so its a good idea to get fully acquainted with the motivation to buyers or sellers. BTC gets into inaccurate price movement and then people can overreact as the price is solid and totally accurate, the market plays them and we can lose out.
I dont feel BTC is anywhere near a hype phase just yet but it will happen for sure I reckon.
Well said mate. That line "panic and hype are cousins" really stuck with me. You're right in your observation that whenever BTC makes a big move, emotions get louder than logic especially for beginners in the Bitcoin network. Some Bitcoiners either rush in or rush out without asking or getting clear knowledge of why they're doing it. Again, I also think we're not in a full blown cycle just yet. There’s excitement in the air no doubt and if you ask me, it's understandable considering the recent developments in the Bitcoin market but that insane retail euphoria hasn’t kicked in. It probably will and when it does, the noise will be much harder to ignore.
That’s why it’s important to stay grounded and understand your reason for holding. If the motivation is clear, then price swings, whether up or down, won’t shake you too easily.