While many newbies base their trading on the downside of devastating events in the crypto space, experienced traders base their decisions on various factors, helping them hands to gain ground even in a bear market.
Speaking to Cointelegraph, Dan Tapiero, co-founder of mutual funds 10T Holdings and 1RoundTable Partners, shared some of his top tips for navigating the market. This includes being broad-minded and avoiding the influence of people’s emotions and fears. Tapiero explained:
“It’s important to understand that the space has really grown. It’s not just about Bitcoin price or Ethereum price. We have five or six companies that made more money last year than the year before. So even in times of Bitcoin and Ethereum price drops, we’ve seen companies that thrive.
The executive also gave an example of a sector within the broader digital asset ecosystem that Tapiero said is not connected. He explained that in 2022, $ 8 trillion in stablecoins were settled, the total number of non-fungible tokens (NFTs) exceeded the $ 1 trillion mark, and gambling was excluded. . Tapiero said that three years ago, they were all drinking.
Apart from that, the veteran marketer also highlighted the progress in the DeFi (DeFi) space and showed that despite the locked value of the space rising from $200 to $50 billion, and it was zero a few years ago. I noticed that you know, the guys in the sky have no idea. Five, six years ago, that is not long ago, there was nothing. You have Ethereum. It’s just bitcoin BTC ($26,870). Therefore, as the space expands, the value increases in it,” he explained.
When asked what he thinks about the views of the city and how they affect his plan, Tapiero replied that they can “see and feel it”, but that he is not interested in these feelings. He thinks that crypto is a market similar to other currencies, bonds or stocks. He explained:
“Markets exhibit certain behaviors. I have spent all my life managing a portfolio of moving assets, and honestly, the most important thing is to be able to remove your emotions and make rational decisions that do not affect the current situation and its effects.”
In addition to these thoughts, the director shares his thoughts on the next bullish trend. “The time to paint is over,” he said. When bitcoin BTC ($26,870) and ether ETH ($1,861) fell last year, Tapiero said the market “had a nice rally” and will have “explosives” in the broader bull market.
“I think we will see a higher level in the second half of 2024, 2025. I think that during this bull period, we will reach 6-8 trillion [crypto market cap],” he added.