What should we do during Bitcoin’s Volatility? | Crypto Market Swing
Hey Steemians,
We have witnessed Bitcoin growing to $20,000 and then again dropping to $12000. Now it is in consolidation mode and ranging between $11,000 to $15,000. Some of the experts have opinions that it will correct till $8,000. Some believe that it will be jump till $30,000 in next few months once the correction is over. But due to its volatility, a lot of people have lost funds and a lot of people have made huge amounts too.
So what should be done in such situation when Bitcoin has been moving up and down at such rapid rate!
The resort is not to pull your funds out of the market. Experts say that if you want to make money from stocks/coins, then you should keep money within the market, not in your bank accounts. Same way, when there is so much volatility in one coin; you should start moving your funds to other currencies or altcoins but keep them within the market so they can grow.
There are many more currencies in Crypto market where you can stay invested and see them getting 5 to 10 folds in few weeks or months.
My personal choices where I myself have seen getting currencies doubled/tripled or even more in span of few months are Ripple, NEM, Ethereum, Dash, Steem/SBD, Bitcoin Cash, Monero, Litecoin, Verge, Bitshares etc.
There can be alot more than these currencies and definitely other currencies must have grown much more too. I am only referring to currencies where I have personally invested and seen them grow. Such currencies have definitely doubled in last three to six months and still have the potential to grow even more. You should keep an eye on the technology behind the currency and also markets volumes through exchanges.
End of the day, what all matters for an investor or trader is that his net worth should increase. So it doesn’t matter if you are making money from Bitcoin or any other coin, all in all you should be benefited from your investments.
Please ensure that all investments definitely carry some risk. You should thoroughly study and research on your own before making any investments and take complete responsibility.
Happy Investing!
great article - thanks for posting - I'm invested on some of these and am looking into a few others - I've been hearing more about bitshares - this article inspired me to look up more info about bitshares
You are most welcome @jorlauski
Thank you for appreciating!
Good post.
One should always take some profit off from the table.Before investing we should keep a timeframe based target say 50% in a year. If that's hit one must sell atleast 50% of holding.
And if 50% gets hit even before year or timeframe set start selling in blocks, may be 10% of holdings at each 5% increase above 50%.
Best strategy would be to make your holding free of cost.
That is take investement out (once you are able to) and only keep your profits in the market.
Great thought @shv2145
Hope you keep making profits with your strategies!
Thanks for posting this, that is some sound advice. @pkalra
You are most welcome @duane.dos
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