The perfect storm, for us long-term cryptocurrency traders!
I know a lot of people are hurting right now, especially if you're one of those day to day trader types.
I too was one of those in my twenties, and then I learned via stress and absolute aggravation... that day trading was not for me.
Fast-forward to today, in my thirties, and somewhat of a noob to the cryptocurrency space, and this Chinese exit from the market is a dream come true for me.
I am in this for the long-haul, and I only focus on a small group of coins and tokens of which have real potential, and that are, in my opinion, above all else in quality.
I know for you younger folks out there, that this method of investing is tough, because all you wanna do is look at the prices every five minutes, but let me warn you... you will probably always lose at day trading.
So, in conclusion, find your superstar cryptocurrencies, invest in them as often as possible... and then just let time do its thing.
You're right on. The buy and hold is the way to go and this is truly an investment blessing. We can buy BTC today at prices many thought we wouldn't see again.
Amen to that, but try not to do anything until you see signs of a true bottom.
A lot of whales will take these troubled times, and try to use them to their advantage, by making people think the bottom has hit via investing large sums of money... and then when the dumb money jumps in, the whales ride it up 10%, and then bail.