The BEST time to make money is when there is blood in the streets!
Are you worried about this huge correction in the crypto market? You shouldn't be....
Baron Rothschild (an 18th-century British nobleman and member of the Rothschild banking family) is credited with saying
"the time to buy is when there's blood in the streets."
I'm sure he knows. The Rothschild family made a fortune buying in the panic that followed the Battle of Waterloo against Napoleon amongst to many other examples to name.
What he meant by that is the best time to buy is when all the stocks are in the red. When people are dying to give away their fortunes at a fraction of the price because they are scared they are going to loose it all. Don't be the fool and give away your fortune. I know it looks bad, but now is the best time to buy! All I see is sale, Sale, SALE! :)
I know many of you are still rather new to the cryptocurrency market and have never seen a correction like this. Let me assure you it is completely normal! I have seen quite a few of these corrections in the crypto market since I've started trading and I know how nerve racking it can be, especially a big one like this. But do not think that everything thing is going to fall apart because it won't. Everything is fine. Don't get me wrong maybe some bad coins might fall apart, but for the most part everything will be just fine so just HODL or do what I'm doing and buy the dip.
The problem is the market went up way to fast without a good healthy correction, so this is now what is happening now. Don't let the Fear Uncertainty and Doubt (also known as F.U.D.) from all the negative media scare you away from cryptos. Now is literally the best time to buy. Just do your research, buy good coins that you have faith in and you won't have anything to worry about on a good correction like this.
Look at these 24hour low prices! 30%, 40%, 50% and some even more than 60% off! What a steal of a deal! I can't remember the last time I saw a sale this good on cryptos ;) Retrain your mind how you see this market and you will be fine. If you don't have faith in the crypto market as a whole you probably shouldn't be trading because the stress will eat you up. Remember, healthy corrections are not only normal but also good for the market.
Do you remember when the market cap was close to a trillion dollars? It is about 415 billion at the time of this post and I saw it at 350 billion early this morning. Like I said before this is normal so sit tight and ride out the storm. Or do what I'm doing and take advantage of this red (blood) market and buy Buy BUY!
(This is not investment advice)
"Peace, love and all that hippie shit"
I wish it wasn't so, but Rothschild's statement is true. Those who bought real estate during the financial crisis in 2008, made out like bandits when the bubble re-inflated. Same with stocks!
Agreed. But now its the peoples turn to make some money with cryptos! ;)
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Cool read @moderndayhippie! You showed the bigger perspective. It's easy to get emotionally wrecked with these ups and downs so it's nice to read something reassuring like your post. I'm following you for more. Thank you and till the next post,
Klaudia
Thanks! thats actually why i post articles like this everytime there is a long/hard correction.. lol.. last time i called it "the sale of a lifetime!" Just to try to ease peoples minds.. i remember my first hard correction and i made a lot of terrible mistakes, so i try to help others from doing the same 😉
I made the mistake of selling my cryptos when I first got into this "crypto world" when I saw the prices going down. But since then, I've learnt my lesson and I would never sell when everything is red. It's indeed the best time and opportunity to buy, because everything bounces back all the time.
Absolutely! And dont feel bad, I think we all make that stupid mistake once lol.. as long as u learned from it, u will be just fine. 😉
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I completely agree!
Once people have been through these dips a few times like us veterans have, they will learn to hodl and start buying during these dips!
Yeah, i think there is definitely a learning curve for people on their first hard correction.. I know the people who bought bitcoin at $20,000 are freaking out that they lost all their money, when the truth is all they have to do is wait a month or two and they will be doing just fine.. its a hard lesson to learn, but once you understand it.... "your golden pony boy" lol.. just gotta have faith in cryptos ;)
It's so true man. If you believe in crypto then you believe in the long game. I wont sell and am truly excited about the huge discounts. This means more of the coins I have always wanted to buy up are at a more reasonable price.
Exactly! I missed a few good coins when they came out and now I get a chance to pick them up at or below the initial price! I can't be mad at that at all.. :)
My only regret in choosing to HODL right now is that I don't have enough disposable income to BUY BUY BUY more! People who are wise enough to fight through the panic will be extremely rewarded for their faithfulness. Thanks for sharing some wisdom with people who may be panicking right now.
Hodling is always the best choice to be honest.. you can never guess the tops and bottoms of the market so most people miss the big day gains by jumping in and out.. I hold 75% of my portfolio and only play the market with 25%.. some months I do well playing, some months I do horrible.. After 8 months of this I honestly don't know which way is better but I will tell you that holding a good coin is a shit ton easier than day trading!
I can't believe I missed this. My fault! He obviously knew what he was talking about... smh
you haven't missed anything yet! Still a great time to buy. I am actually still hoping for one more down turn in the market.. I mean these are great prices as is, but you still have a little bit of time before this market really explodes!
Awesome! Thanks for sharing. I am still learning bout all this crypto thingy and your blog piece certainly helps
Glad i could help 😉