ack in July, I made a video discussing some of the lessons that I learned after the price of Ether crashed from $420 to $160.
I thought I'd make a similar video in light of the crash that we've witnessed across the board in the cryptocurrency market.
DISCLAIMER: This is NOT financial advice. I am just offering my opinions. I am not responsible for any investment decisions that you choose to make.
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Thanks for sharing your story Louis!! Knowing the history definitely helps! Let's not loose hope during the dark moments.
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this is why you never go all in, you always dollar cost average into investments, no matter what
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Its a good advice. Its a lesson for the steemit community.
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You got a 16.10% upvote from @thebot courtesy of @thedawn!
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Sound advice @louisthomas. The psychology of taking profits and losses is the hardest part of investing to master and to be honest no one ever gets it right all the time especially in volatile markets like crypto. One should be thankful for any profits made and not dwell on what could have been.
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if you should invest then only piece by piece
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I feel very identified with the video Louis, I also invested in cryptocurrencies without having defined when I was going to get my profits, I managed to double my investment but I was very greedy and didn't withdraw a part. Today I am in losses, but I learned the lesson.
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Ride out the waves, a bright sky is coming
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Good review! I believe this will a warning for the newbie in cryptos we should emulate and learn from this video, but I believe invested in cryptocurrencies is a good one and reliable asset, I hope better days ahead let keep watching.
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It's hard time for all us, steem power means less and less day by day. Hold strong everyone!
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Most important lesson to be learnt in this moment is to buy more while its down...
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Cost averaging in is always the best route. We were flying high for a while, and it was just too much to sustain those prices.
Purging all the swing traders is necessary before making the next climb up.
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the goal is to buy low and sell high. we are on the way to go low but it`s stll early
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Good advice. Unfortunately I got into crypto quite late and haven’t had the chance to pull out any profits, but the market will turn sooner or later, and I’m sure my investments will be sound. FOMO is big problem for me. As soon as I have cash ready to invest, I buy a stack in one go. Hopefully when I have a portfolio that is of a big enough size so that I’m happy with it, I can relax and dollar cost average my purchases.
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Thanks for sharing. At least you learned something! Here's my take on the bubble https://steemit.com/cryptocurrency/@crypticat/what-s-happening-meow-crypto-bubble-bursts
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we all make mistakes
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CoinCheckUp.com - on of the best (or even the best) stats, charts, data and analysis of crypto.
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Cryptocurrencies are extremely volatile and regularly see dramatic changes in price. We all know when any traditional asset goes up too fast it has to come back down. Anyways thank you for your story my friend. A little knowledge about history doesn't hurt either, so I think it's wise to have all the information about something you work with.
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in digital currency trading. I'm not very good at reading the charts yet. I bought at the beginning of the year and sold at the end of the year. in my country the tax is too high to trade digital currency.
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The video is from your e-text
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Thank you for your good advice. My advice is when your crypto prices drops just buy more at a lower value. Dont panic when the prices get lower, just buy more when the prices are lower. Thumbs UP
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There were five massive sell-offs in 5 different exchanges with similar multi-million amounts, apparently to enable quick transactions. Strong suspicions they may have been placed by the same holder. Who was it? It could be an early investor cashing-in or "the usual suspects" market manipulators highly skilled players, also in the fiat system.
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Cryptos are the most volatile investment class going. But also the most potentially profitable. The key is to not invest money you can't afford to lose; spread it over many of the best possible cryptos and HODL. Upvoted. Thanks Louis, I've enjoyed you on youtube and I'm glad you are on steemit.
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Looking at the charts from between December 2009 and Now, this is a cycle, the price shoots way up, a minor bubble bursts, the prices come back down, linger for awhile, and then shoot back up, always making huge gains.
Thanks for your PoV.
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I may be wrong but I suspect that even now, your positions if sold now would produce fantastic profit......albeit much less than when you sold your “sliver” in December. No one knows where this will go or when. How do you know that the price of BTC won’t tank by another 75%.?
Maybe you should sell 25 % now.
In the 1990s I sold Nortel at 120. I sold 50% of what was left at 45 . I sold the last bit at 8 . All three of those decisions where good ones. It went to zero.
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Thumb up for your video.
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It's still too early to tell where cryptos will end up. Never put all your eggs in one basket. Investing should be on a long term basis when it comes to cryptocurrencies. I'll give it at least 2 more years.
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Why do you think it could go on for a very long time? Not saying I disagree, just would like to hear your thoughts. Thanks!
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Dud this was a valuable. Thanks for all the info, video was great! Upvoted
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A well balanced and managed portfolio is the key never investing more than you can afford to loose.
When the prices spike it's always important to profit take in set intervals and when the prices drop it's not really a loss until you sell.
And remember never trade based on emotion :D
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