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RE: Crypto Market Crash - When Will the Crash Stop? - CryptoCurrency Market News
Hang in there! I have been doing the same thing. This market correction was much needed. Those getting in on the dip will be able to reap the benefits long term. IMO 6k is the likely support before we head back in the right direction.
it hit 6k last night just below it. hopefully you are right. yes we did need a correction but this was huge.
What will happen if the price goes below 6k? do you know when the next support is?
I believe 5k is a support. The best way to go about buying into projects is waiting for them to not be at an ATH/wait for correction, then buy in, and hodl it until you see the benefits you expect. That means hodl through High and Low. Never FOMO into a position (I learned this the hard way and am now holding some bags) and do your research properly. And some common sense goes along the way.
Another good thing to do is take a look at the roadmap for that project/crypto calendar to see whether any big announcements are coming up on which you can expect to make a profit.
During this current crash best thing to do is to look at the graphs and see what it's all time high was and what it's support was like. If you can get in at a low price you can usually expect it to go up to near ath values eventually. An example I can give you is my TRX position. I bought in at €0.044 after it had hit an ATH of around 20 cents. It's already doubled the value once (was out of the house and could cash in on it) before it fell to about 7 cents, and then the crash happened. With the experience I've had with TRX I know that buying at this BIG LOW will net me a huge profit come market recovery.
Unfortunatelly I don't find myself in a position to make any moves right now, especially when you consider I already play with low values to begin with.
Im holding and not selling that's how i lost a bunch of money