Amid a volatile crypto market marked by fluctuations in Bitcoin BTC/USD and Ethereum ETH/USD, alongside geopolitical instability, esteemed crypto trader and economist Alex Krüger advises traders to proceed with caution and maintain a broader perspective.
What Happened: On Wednesday, Krüger expressed his thoughts on X about the current crypto market situation. He stressed the need to avoid becoming entangled in short-term fluctuations.
As per Krüger, trading is a challenging endeavor, and he frequently modifies his short-term perspectives instantly, particularly during periods of high volatility. He also noted that he realizes gains or losses within the day and employs trailing stops.
Krüger cautioned his followers that attempting to emulate his trading tactics could result in substantial losses, as the majority of them are not active traders and respond slowly. He remarked, “Most good traders lose a lot of money before getting good at it.”
Krüger also revealed that he has decided to limit posts about short-term price movements, believing that discussing the broader picture is generally more beneficial for everyone. He wrapped up by stating, “I don’t think this crypto cycle is done. Not even remotely so.”
See Also: ‘I’m Liquidated Again … Bye For Good:’ Mad Crypto Alpha With Ivan
Why It Matters: Earlier in March, Krüger had expressed his belief that the Bitcoin bull market was just beginning, with the full impact of the recently sanctioned Bitcoin ETFs yet to be seen. In mid-April, he was bullish on Ethereum, predicting it would reach new all-time highs.
The crypto market guide research report by Glassnode highlighted the historical performance of Bitcoin and Ethereum which has been the top-performing asset in eight out of the last eleven years, delivering an annualized return of 124% from 2013 to 2023.
Despite recent market downturns attributed to escalating tensions in the Middle East and concerns over monetary policy, Wall Street veterans remain optimistic about the persistence of the bull market. They point to the resilience of the U.S. economy and the transformative potential of artificial intelligence (AI) as key factors supporting their confidence.
Krüger’s recent cautionary advice, therefore, comes against a backdrop of bullish sentiments and market optimism. His emphasis on the bigger picture and caution against short-term trading reflects the volatile nature of the crypto market amid geopolitical unrest.
Price Action: As of the latest update, Bitcoin is valued at $63,873.30, marking a marginal increase of 0.18% for the day and demonstrating growth of 44.60% year-to-date. Meanwhile, Ethereum is priced at $3,090, reflecting a modest daily increase of 0.20%. However, Ethereum’s year-to-date performance shows growth, with an increase of 31.37%, according to the data from Benzinga Pro.
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