Buy the blood in the streets...
Buy the blood in the streets, even if the blood may be your own.
In crypto living by this motto will have you happy more often than not. We recently went through a sharp economic downturn in the crypto space that leadsmany too discount crypto all together and high tail it out of here. This usually happens when some particular factors are at play.
They are new to crypto and never really experienced an extended correction.
They never really took the time to learn about crypto but wanted fast money.
In both scenarios inexperience plays a large role in making the decisions to sell during a down market, so here is my advice for the next time things get a bit choppy.
Always have fiat on side line ready to spend: I currently hold 15% of my crypto funds in Fiat, this allows me to quickly buy flash crashes that may occur from time to time. This also decreases my exposure to hard dips.
Have a stash of Bitcoin: By having bitcoin stashed away, in the event that alts decided to go full swan dive. I don't actually lose any of my positions, better yet I can risk free increase my alt positions and sell the and later sell the intial investment while keep the profits as alts.
Walk away: Coinmarketcap loves when market the market bleed. Why? Traders can't stop checking the price of their holdings. You are better off trusting the investment you have made and going for a walk or doing any activity that will keep you away. This way you cant panic sell.
I hope these tidbit are helpful and will get you through the next Crypto winter, and trust there will be more crypto winters.
http://youtube.com/c/Crypto2Crypto
Great advice as usual, Mask.
What blood have you been buying? When do you expect spring? Bitcoin boom before alt season? Inquiring minds want to know!
Well a lot of my own blood 😂. I doubled down on Eos steem eng Ren . I’ll be selling investments soon though.
Btc will probably peak late summer, as early autumn has a bunch of alt releases due
Hello Sir, I do not know why it is because of the power draw that you rented
Thx for that quite informative post. Keep up with creating interesting content.
don't ever give up. Steemits needs solid content builder.
Already followed and upvoted :) Cheers,
Good news!! As usually happens, the most logical thing is that in the next few days the value of cryptocurrencies starts to grow again.
Never know what day that might actually be.
Planned to buy the dip, but I missed out! Had some bad luck with a few previous investments so was afraid to pull the trigger. Hopefully this continues to trend and crypto gains more ground so what I am holding gets there!
Fear of past mistakes can cause us to miss big opportunities
Buy low, sell high. And you can only buy low when the market bleeds and you still have some dry powder at hand.
Both are difficult.
Buy Low:
You never know when the bottom has reached. If you buy the dip, the dip can be followed by a deeper dip. So don't fire it all at once.
Sell high:
Even harder to predict. The lowest bottom can be easily defined as 0, but what the max will be, nobody know. That's why it is better to have a selling plan for each coin. don't sell everything in one bulk, but create price point and dedicate to sell a certain amount of the holdings at that point.
I always go with the method of good enough.
I pick the prices I want to buy and sell at, set my orders and walk away. So even if it dips harder, it doesn’t matter to me.
hope all crypto goes to the moon again.
AM REALLY HAPPY THE MARKET IS MAKING UP, HOPE IT CONTINUES TO DO SO...CHEERS
Hoping for the same as well
Thanks... your points are very important... point is to keep it remind...
Thanks God the market is recovering, hope in future it will touch the stars
soon enough. no need to rush though.