Cryptocurrency expert Raoul Pal advises holding through market fear for future upside

From Investing.com

August 5, 2024 5:00:56 pm:

Cryptocurrency expert Raoul Pal shares insights on the ongoing crypto price plunge, urging traders to hold on despite “max fear” in the market. The collapse is seen as a reset of risk-taking leverage, with a predicted strong upside in the coming years.
The market has entered the “max fear” zone, Crypto Fear and Greed Index dropped from 74 to 26 in a week. Pal advises holding on during these times and views the dump as a natural part of bullish crypto market cycles.
BTC price fell below $49,500 with over $1.22 billion in liquidations. Economist Pal recommends avoiding leverage, FOMO, and noise, focusing on a small asset basket, allocating 10% to high-risk assets, and using secure wallets for operations.
Pal emphasizes a HODL strategy over trying to time the market, personally holding on and suggesting adding to long-term holdings during the dip. He advises against trying to outsmart the market and emphasizes self-custody for security in handling cryptocurrency operations.

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