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Exit or HODL? Ace crypto traders have some money making tips for you

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Russia is waging war against Ukraine and economists worldwide are trying to keep their heads above the water. As the crypto market reacts to these political ruptures, a new investor might be wondering whether they should be fearful or greedy. To that end, some crypto traders and analysts have shared their opinions.

Don’t MESS-ari with me

Messari Research is a knowledge hub for many a crypto trader, and founder Ryan Selkis made no bones about what he was going to do with his crypto during a time of war. The researcher said,

“I’m not selling. I’m moving to cold storage.”

What’s more, Selkis advised investors to take their Bitcoin off exchanges. The reason for this was his prediction that Russia would legalize Bitcoin to evade a possible SWIFT ban. Selkis also believed that in such a case, the USA would monitor Bitcoin activity and stop users from sending money to unknown wallets.

On the other hand, the Messari researcher also seemed to claim that Bitcoin was meant for states resisting invasion, rather than invaders. He tweeted,

“Gold is for Russia and China. Bitcoin is for Ukraine and Taiwan.”

An orchestra of opinions

Meanwhile, investment strategist and economic historian Raoul Pal offered his own advice for traders who were looking at geopolitical events. Promising to give them some tips from his “32 year career,” Pal simply tweeted,

“Don’t. You have zero edge in trading CNN/Fox/CNBC rumor headlines, which are a direct path to losing money. This is a public service announcement. Thanks.”

He instead urged traders to make a long-term plan and stay loyal to it.

For his part, crypto trader and influencer Lark Davis echoed the idea of sticking to a plan. Furthermore, he claimed that the conflict was nowhere close to ending, and warned against FOMO.

However, author and Bitcoin trader Vijay Boyapati took a more positive view of the market. He implied that a crash followed by a strong recovery could lead to some sky-rocketing rallies.

Time to get emotional

Issue #27 of the Bitcoin Fear and Green Index Newsletter certainly revealed some insights on the current situation. The newsletter noted that $36,000 could be a challenge level for the king coin. However, the immediate target was for Bitcoin to hold $38,000.

The newsletter concluded,

“Breaking out of this zone to the upside would have several bullish implications; One key possibility would be the continuation of the rally to a target around $47,000. It’s important to note that the rally becomes invalid if Bitcoin closes a day below $36,000.”

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Sahana is a full-time journalist at AMBCrypto. She has a Masters in Journalism and her areas of study include crypto-regulation, digital society, privacy, and intersectionality. Ask her about film photography and philately.

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Disclaimer: AMBCrypto's content is meant to be informational in nature and should not be interpreted as investment advice. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions.