Cryptocurrencies ups and downs: Should you even be surprised !!
With the recent drop in cryptocurrency price and the recent rebound just shows we shouldn’t be too worried with “noise”.
History has told us that whatever that can be traded will always be have its up and down just like a roller coaster ride. Stocks…Gold…Currencies. You name it, it always go through cycles of up and down.
So why do we assume that cryptocurrencies will forever go up and not have price correction. The party can’t keep going forever. There is a saying which sums it up perfectly “What goes up will come down”.
Are you Panicking?
.jpg)
Well, first it to ask yourself the fundamental question of why are you investing in cryptocurrency?
If you are in this for the long term which is the style of the investment guru, Warren Buffett, then the price shouldn’t affect you too much as you are looking at a term of 5-10 years. Buy and close your eyes. Short term volatility should not worry you.
.jpg)
Ignore the “Noise”, meaning those media news. They are just distractions. No one can ever predict what the market will do.
.jpg)
If you are those that blindly just follow the party and assume it would never end, then boy oh boy are you in trouble. History taught us never to invest in something you do not understand. And am sure many in here will tell you, money that you invest must be money that you can afford to lose. Cause investment is never a sure-win.
RULE OF THUMB
Treat the “Noise”, a.k.a media reports as entertainment. Never get too emotional with whatever the news is reporting. Know what is the outcome you want from your investment.
Congratulations! This post has been upvoted from the communal account, @minnowsupport, by whatsupz from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, and someguy123. The goal is to help Steemit grow by supporting Minnows and creating a social network. Please find us in the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
If you like what we're doing please upvote this comment so we can continue to build the community account that's supporting all members.
I don't think we should be surprised. Trading cryptocurrencies is not a game of one night. Patience is the key in the crypto market. A good post from your side mate. Followed and upvoted....
Congratulations @whatsupz! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPCongratulations @whatsupz! You received a personal award!
You can view your badges on your Steem Board and compare to others on the Steem Ranking
Do not miss the last post from @steemitboard:
Vote for @Steemitboard as a witness to get one more award and increased upvotes!