What To Do When Every Coin Is In The Red. Do We Sell?
If you are invested in cryptocurrencies you have probably noticed that almost every coin seems to be tanking .. What do you do in this situation?
The #crypto currency game is very volatile and unpredictable. With the recent jump in all coins especially #bitcoin ($2700) everyone was excited. People where blinded by profits that they started pulling out, but this started a domino effect. A few days went on and Bitcoins price plummeted due to panic sellers. ( people who trade with emotion )
Once #Bitcoin started to tank every other coin began to suffer. For the past two days, we have had an all red market and it has hurt a lot of people.
When every coin is doing so bad what do you do? Give up, and panic sell or HODL tightly because yu know another wave is amoung us?
I vote the latter, Holding on to your coins in a crisis such as this not only means that you are a level-headed investor, but it shows how strong of an investor you can be.
I like to say " Don't trade with emotion" remember that every coin will have its bad days and what goes up must come down.
This can be considered a learning experience for many because the market has grown so much in a short amount of time that all of the newbies are getting a taste of what a bad day looks like early on. This gives them two choices. Become tough as nails and hold your position or walk away completely.
Investing in any fashion always comes with risks but with great risk comes great reward. Not every investment will turn a profit but if you hold on as this market levels out I believe that many people will be satisfied with the turnout.
Market corrections happen and people panic sell or take profits. That's okay because in the end you cant lose money unless you sell in the red.
My advise to anyone who has emotions in this game is to leave them out of it but if that is too hard remember to buy the dips and sell high. If you have a profit on a coin and your emotions get in the way take the profit and leave it at that. If you fear a coin will drop don't hesitate to get out. One time I invested $100 into a coin and turned a profit of $200 within a few days i pulled out the profits and the coin tanked. I used all of the profits to buy back in as low as i could and once the coin went back up my initial investment of $100 turned into $450. THis is powerful stuff, and it is only the beginning.
As a side note id like to point out that the recent drop could be due to WHALES manipulating the market for profits so HODL HODL HODL!
Ps: I am not a financial advisor, and I cant predict the future any information that I give shouldn't be taken as marketing advice. Invest wisely and only invest hat you can lose...
Did you like this post? Comment below we can have a discussion!! Remember to upvote and resteem to spread the word!
Youtube: @thewolfofcrypto
FB: Richie Benjamins
Steem: @theolfofcrypto
Insta: @ceomaiken
99% traders gonna get margin called!!!
I find this to be a great time to buy low on many coins that are about to skyrocket. What do you think?
if you have more money to invest, then definitely, buy the better alts. I was waiting for this crash so it can weed out the scams and pumps. The ones left standing after the rubble are possibly good investments.
Great advice!
When the market is so down it is a good opportunity to reinforce your portfolio, I am sure thet few days ago most of the investors were happy to see their coins at high levels and in the money, at this point that the coins are so much cheaper it is the time to buy some more of the coins you have at the awesome discount prices you see now on the exchanges and this way - when the market will go back to the green you will be in the Money bid time.
I love this response. Great time to buy up as many as possible before prices reverse! Expand the portfolio!!!
Congratulations @thewolfofcrypto! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honnor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPIf you want to support the SteemitBoard project, your upvote for this notification is welcome!
Strong hands and cool heads prevail! Ive been in long enough that im still in the green amongst all this red. The tides bringing in bodies, dont be one of them! HODL!
Exactly, If you cant take a market drop this industry will chew you up and spit you out but if you can stay calm you can make so much gais. I mean look at bitcoins early investors that stuck it out!! I am still in the green on 99% of my coins and am using this dip to buy more. Godod idea? What do you say?
Yeah this is the crypto sell off of 2017! Time to stock up cheap. Its funny how everything went from, "million dollar bitcoin" to "abandon ship! Fucking sell!!!" In one day. This is the best buy in chance most people will get. Make use of proof of stake coins now and stock up on btc and eth.
I love this response. Great time to buy up as many as possible before prices reverse! Expand the portfolio!!!
It's not really "panic" selling in Bitcoin. At times it is. It's basically continuous manipulation by the few strong hands. The price was run up in a frenzy by all of the talk on social media. The sheeple got in. The big boys got rich. Now they have $millions$ in gains with a worldwide audience 24 hours a day, 7 days a week. They can play this game of driving it up in $200 spurts...selling it off in panic...rinse and repeat all the way down to the point where it will get cheap enough for the "true" believers to step in again. Right now the bitcoin crypto moneyrunners are having a party with the little guys that thought they'd be millionaires by Xmas. Follow my updates. I'm tracking the technicals and called the absolute top yesterday...and what will happen next in the blogs I posted. Don't even think about "buying to hold" til at least $1500 imo. I outlined a daytrade strategy that works in one or 2 of my spews. Just try that one time, and if it doesn't work...forget about the cryptos for awhile and get on with your daily routine. You are "trapped" in the hands of a few big market manipulators. Nobody there to oversee what they are doing. And worse yet...some exchanges are so bogged down with skeeerd sheeple that there's nothing you can do anyway. Shoulda never let the banksters and hedge fund into your little club.
Afreed! the whales are at work using newbies as bait!
My thoughts exactly! I finally got my father into Bitcoin and he bought 2k worth literally an hour before it started tanking and he's freaking out. I've been trying to tell him, chill! I've been through this several times before. It's all going to be okay.
Bitcoin & Ethereum to the coming crypto bubble is Amazon and Google to the dotcom bubble. They will eventually be replaced by something better but for the foreseeable future, we're in for more big rallies! :)
Perfect comparison... He will be so happy if he holds and he sees what he can make of it.. youare right this is like the dotcom boom and we are in the beginning... Things will go up as this beconea the norm or mainstreem
Though personally, I can't wait for the bubble to burst so we can get to the next chapter and watch it grow. :P