Do Not Panic! Invest for The Long Term instead
The prices of most cryptocurrencies (CC for short) are falling. Many people panic in such situations and rush to sell what they have for the low price. The reason for this is that most people are trading (short term investment). They want to benefit from the hype. I don't blame them, but I have learned that it is a very bad idea.
Invest, Don't Trade
I believe that the best investment is the long-term one. Find a good project (a project that has strong fundementals), and then take this oppurtunity of low prices to buy in it. A good project will eventually come back and you will most probably make a good profit from it. especially if you picked the coin when the prices had crashed. It is very interesting how a long-term investor sees the price crash as an opputunity to buy a coin with a good price, while a short-term investor (trader) paniks and sells his coins.
Learn the Fundementals of Evaluating a Cryptocurrency
If you are planning to invest your money in cryptocurrencies (and make money out of that), you should learn the fundemental rules for picking a good project. I know it takes some time, but if you are investing your money in it, then why not invest some time too?!
There are many good articles about evaluating CCs. I have started a series of articles about this subject too. Please check them out, and tell me what you think.
Update: I have put my money where my mouth is and made a good profit from it. Check it here.
Hi @sadeki . Nice post.I also post about investing . Check my post here https://steemit.com/investing/@alketcecaj/learn-to-invest-your-money-and-make-a-living-out-of-it
Thank you @alketcecaj.
I will check your post now.
Investing is one of my Hobbies as well as travelling but I also post about PhD students, programming languages, statistics and data analysis.
Followed !
I'm panicking!!!
I have been trading for so long, and I have learned that the worst thing to do is to panic when the market goes down.
Are you trading or investing in cryptos ?
I'm only investing right. I dont feel confident enough to trade. Have you made some pretty big gains yet?
Oh, yes :)
I made at least 10x my initial capital.
if u know how to read the chart then u know when to sell at the top anyway