You were wise to do that, but if it keeps going down until its around $1600 right before aug1 then If you can absorb that loss you are in a good position in life! I wish I was able to see that kind of loss in my wallet. That is why you are much smarter though, people like you and others on here are in a position in life to be able to handle that, I should not until I get more expendable money on hand for sure. Because I was relying on that few hundred increase every month for a while in my daily life, and now that it has fallen by hundreds, I no longer have that money on hand..
I figured it was a good time to invest in some Steem to help those accounts that are underrated and need a boost to give inspiration to keep on Steeming, that it takes time to become a dolphin or a whale. But some of it I am saving long term. Cause it will rise again, and I will likely buy some more if it drops again. It will likely go down a little more this month before going back up next month sometime. Just can't panic when it drops, ride it out and it will raise again. Buy low Sell High
And the only thing I did was save some of the cash I got from my SBD that I transferred in to USD before the crash then invested back into the market once the crash occurred. I try to put back 5% of my earnings to buy back into Bitcoins if it crashes, that way I have money on hand but also a little to invest, you save a little at a time, before you know it you can buy bigger amounts when the market is down.
You were wise to do that, but if it keeps going down until its around $1600 right before aug1 then If you can absorb that loss you are in a good position in life! I wish I was able to see that kind of loss in my wallet. That is why you are much smarter though, people like you and others on here are in a position in life to be able to handle that, I should not until I get more expendable money on hand for sure. Because I was relying on that few hundred increase every month for a while in my daily life, and now that it has fallen by hundreds, I no longer have that money on hand..
I figured it was a good time to invest in some Steem to help those accounts that are underrated and need a boost to give inspiration to keep on Steeming, that it takes time to become a dolphin or a whale. But some of it I am saving long term. Cause it will rise again, and I will likely buy some more if it drops again. It will likely go down a little more this month before going back up next month sometime. Just can't panic when it drops, ride it out and it will raise again. Buy low Sell High
And the only thing I did was save some of the cash I got from my SBD that I transferred in to USD before the crash then invested back into the market once the crash occurred. I try to put back 5% of my earnings to buy back into Bitcoins if it crashes, that way I have money on hand but also a little to invest, you save a little at a time, before you know it you can buy bigger amounts when the market is down.
That is really cool! and thanks, I will take that advice thank you!