Crypto's Crazy Drop - Bloodbaths Are GOOD!!
No matter who you are, no matter how long you have been involved in cryptocurrency, you will most likely by now be familiar with the term 'bloodbath' - days of almost completely red (negative) entities on the exchanges an usually tied in with a 'bad' day in the world of #bitcoin, but did you realise that you can use these days to your advantage?
Far from the crowd who will be crying into their digital cornflakes, the savvy trader will be looking for opportunities to stock up on coins that have taken a hit in the sure-fire knowledge that red will soon turn to green and patience is the key!
So to sum up....DON'T PANIC!! Even if you are holding coins that have lost value, a re-trace is almost certain, especially in these relatively early days of cryptocurrency.....THE ONLY WAY IS UP (in general of course!)
When the dip happens, usually bitcoin falls less so I tend to buy the alt coins and sell back into bitty as the prices of the alts go up.
Classy idea....it's good to be able to make use of the difference in coin changes. It's all part of mastering the art of analysis I would say
A trader buys on the way down and sells on the way up. I buy on the way down and hodl :)
Buy low, hodl, sell high - the winners equasion ;)
Useful post, buddy. I agree with you, these "Bloodbaths" is nothing else, as another good opportunity to buy coins at deeps.