When Bitcoins and AltCoins CRASH, how do you react? Panic Sell or is it Crypto Black Friday?
When Bitcoins and AltCoins CRASH.... How do you react? You're perspective can make all the difference.
Inexperienced crypto holders often panic when seeing the value of their portfolio diminishing before their eyes. This often causes them to impulsively sell off many of their coins/tokens, thus guaranteeing a loss! More experience crypto traders and holders, on the other hand, look at it as "Crypto Black Friday"! Everything is on sale! Buy buy buy!
So, if you're an inexperience trader, the next time you see a "Sea of Red" on CoinMarketCap, how will you react? If it's too stressful, oftentimes it's better to just turn off your computer. Don't check Blockfolio (or whatever app you're using). Totally ignore your portfolio altogether. Refuse to live each agonizing rise and fall. Go outside. Spend time with your family. Chances are, later that day or week, everything will be right back where you left it.... in the green! :-)
(By the way, this is not financial advice, but purely my opinion.)
Dont fear: Bitcoin has "crashed" 30% SIX TIMES in 2017. Each "crash" has been followed by an increase of: 76%, 237%, 183%, 165%, 152%. Bitcoin takes 7 steps forward, 2 steps back, 7 steps forward, 2 steps back. Every 2 steps back is heralded as the end of #bitcoin. Just Relax!
Exactly! Thanks for your insight.
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