The May HODL Challenge - The Sea Of Red Is Back!!!
Price is irrelevant!!!
(I need to keep telling myself that doing these HODL challenges...)
We're finishing up the month of May and here comes the sea of red to once again ruin our dreams of becoming Lambo owners lol
Seriously though, my attitude towards crypto is to hold for the long term and embrace the dips. I understand that this market makes no sense at all and even with news clip after news clip of exciting announcements, partnerships and development....The sea of red shows up!
Our original $100 investment in BTC was worth 0.011 BTC. And for the entire month of May so far we have gone down from that original $100 investment. So let's take a look and find out where we sit today...
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So we're down, but hey....We still own that BTC! That's the important thing to remember....
So the price will go down and in April's case, the price of our HODL challenge token sky rocketed....It happens and you need to always think long term for these little experiments!
Note: I hope you enjoy the video on @dtube that I did for this week's post. I thought it would be neat to have audio, visual and some text for the content :)
▶️ DTube
▶️ IPFS
Hi, Jon! Just got accepted into Steemit and am poking around figuring out how it all works. Now I can get through more BitcoinBully training.
Awesome to see you here! And I know it can take a while for getting accepted into Steemit. But now that you are here!!! Oh wow, you'll have a blast!
As long as you pick solid coins/projects that you have thoroughly researched, understand, and have done your due diligence on, use dollar-cost-averaging, and use sound risk management strategies, HODL all the way!
But, before you do that though, you need to make sure you have sound financial basis in all areas of your life (crypto is one of the riskiest investments out there). We think this article might help a bit on everyone's way to HODL: https://steemit.com/cryptocurrency/@ledger256/before-crypto-part-1-f-i-r-e
Appreciate that. Oh and I agree. Never spend more than you can afford to lose!
Of all my 10+ cryptos only PKT and DGB are green, so the only option to hodl.
Nice nice. Never heard of those. But then again I've got tunnel vision when it comes to crypto lol
Don't we all :) But these are pretty good IMO, especially PKT
Ledger has some solid basic info on that article. I have always been one to live within my means, when I started investing ....yes I said investing ....in crypto I looked long term just like I do with my traditional investments. I always invested a portion of my salary in a diversified portfolio in multiple different locations ie 457, 403, IRA roth and I set my self pretty good for the future. I only started to learn about crypto when I started collecting it as commission payments in some affiliate marketing programs. Once I had it and understood it I leveraged at first 1% of my salary from my offline job and bought, I hodl and diversify but with little risk because I had a good start before the bubble . I have set ranges when I buy and when I diversify, it works for me , but maybe not for everyone. Gotta keep the eye on the long term. Love the image of "im in it for the technology" The tech and interest is great but anyone that says that is lying as its about earning the almighty coin at the end of the day.
Oh yeah I tell that to everyone....Technology only LOL Heck no....I'm here as an investment for the BIG potential and big future :)
It is just a correction in the market... :) HODL! I am still doing better since I bought when the market hit the bottom. So it was only going to go up! Now another chance to buy lower... buy low sell high... not the other way around. :)
Absolutely. Great time to buy and I know I'm paying close attention to not only the BTC price...but also STEEM lol
Hodling is Definitely a long term thing... I like to see where I'm at after 12 months but still checking on prices and whats moving in the markets almost all the time.
Agreed. I still peek and see where I'm at from time to time...But I'm much more interested in getting as many coins and tokens as I can right now.