Hey steemians..
Preface
Its been 4 days since the crypto market has been in the mud and while i normally don't make a post about cryptocurrencies, i was rather inclined (or forced) to make one after reading some of the most depressing posts / comments from other steemians. For instance:-
This is it. Thats the last of crypto market.
My portfolio is down in toilet. Why did i ever invest in cryptos.
Told ya that it won't last long. The bubble is about to burst...
And blah blah blah
Why do we always have to create mayhem over nothing? Our impulsiveness often gets the best of us and no good can come out of this.. trust me..
The agenda of writing this post is twofold:-
To broaden the vision of people regarding crypto trading
To inculcate some basic tricks and tips of crypto investment amongst my fellow steemians and how you can make the most out of market crash.
Lets Begin...
Crypto Trading
Cryptos Are Not For the Faint of Heart
Learn the difference between Crash and Correction
Normally people understand that if market goes down by a little factor, it is to be considered as correction.. and if it falls hard into the ground well below its average value then it is a crash..
Don't panic over market corrections and don't utter non-sense when market is crashing..
I didn't see people complaining when cryptos were on a bullish run in upward trajectory about 15-20 days ago. Why complain now? Keep calm.. anything that goes down, goes up again too..
Invest Money That You Can Afford To Lose
Patience Is The Key
Cryptos Are Long Term Investment
Tips and Tricks When Market Crashes
Buy more. You read it right. Maximize your future profits by buying more during a crash.. Consider this as nature giving you a fair chance to take a trip to your missed out windows.
Don't Panic Sell. There is a famous saying that you haven't lost anything unless you actually sell your investment for loss.. show some patience and mother nature shall reward you back.
Buy the same coin during crash that you bought at its high to reduce your invested price for more profit.
Imagine buying 1 Litecoin at 200$ and then the market crash happens to put Litecoin at 100$. Instead of selling it at 100$, if you buy one more at 100$, you will have 2 Litecoins as if you have bought them at 150$ each.
Conclusion
Market crashes happen all the time specially in crypto world owing to its 24 hours worldwide trading and volatility. Please don't despair or spread depression all around. My own portfolio went from 2000$ to 1200$ and i am still peach because i am Hodling and i am Hodling for life..
Good things will come eventually.
Best wishes
JBN
All images from pixabay
Kindly Consider to Upvote, Follow and Resteem. If you would like to add something, kindly post your opinions in comments section.
My followers know all too well that i always reward thoughtful comments.
@jbn thanks for clearing the difference b/w crash and correction. Feeble hearted people should abstain from doing crypto business. you are right when we lost we complain a lot other wise we don't bother. in the end nice suggestion. keep sharing
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Thanks mate
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I agree with you. Crypto is not for a weak-hearted people. Those who complain are people who don't know what they doing and just jump-in without doing their due diligence. But anyways, this post of @jbn have important information for people who just started out to invest in cryptocurrency. Kudos to you @jbn for this awesome post.
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This is sound advice for anyone just now entering the market. It can be a painful experience seeing your portfolio in the red day after day but if you trust that you have invested in sound projects you will be okay. Thanks for sharing.
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Exactly.. actually the crypto market has been flooded with people who dont even know what a blockchain is. They think that this is some sort of quick money making pothole and these bullish upward trends and bullish crashes happen because of such people.
Thank you for the comment mate :)
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No problem. I gave you a follow as well.
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Fully agree to this post. Crypto investing is not for the faint-hearted. These advice are applicable to any kind of markets out there. Be it stocks, commodities or bonds, never panic sell and be patient.
For any kind of investments, we should always have a target price in mind. If there is no fundamental change to your investments, then you should stick to your game plan. During such corrections, I treat it as an opportunity to average down and position your hodlings for more earnings later.
#hodl
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If i had to write a summary of my post, i would choose your comment as it is.... brilliant stuff..
you said it all and to such perfection that i dont feel like adding anything here..
best wishes..
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Thanks! It is a great post on its own. Cheers!
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I wish I knew some of these things when I started working with cryptocurrencies.
"Invest Money That You Can Afford To Lose"
This has to be one of the best advice you can give to someone who's just starting.
You've got to bear in mind that losing money is a possibility.
"Maximize your future profits by buying more during a crash."
This is what I actually just did.
When I make some money from an investment, I pay like 20% of the profit and save that money for the dips to buy it at a cheaper price.
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You did the right thing mate..
And its never too late to learn.. even with all the degrees and knowledge, i am still a student. Actually your downfall starts when you think that you havw learned everything..
Happy hodling.. ^_^
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Thank you so much for this post sir :-) that's what I've been telling my friends, just HOLD on hehehe and be in HODL :-) again, thank you so much...resteemed this for all readers and followers out there :-) God bless po :-)
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It is always nice to see you on my blog po.. thank you for the resteem.. :)
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No, thank you so much sir. I am indeed so blessed to have followed you because I am learning a lot from your articles and I also want my followers to be blessed and to learn more through you :-) I just want to give back even if just a little because you deserved to be followed and your articles are worth our votes and to be resteemed, :-) God bless po :-)
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Thank you so much po for the kind words
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Awesome work! I`ve re-steemed!
Must be supported...
Thank you for your wonderful work 😊😊
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You got upvoted from @adriatik bot! Thank you to you for using our service. We really hope this will hope to promote your quality content!
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