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?
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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.
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Ignore the “Noise”, meaning those media news. They are just distractions. No one can ever predict what the market will do.
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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.
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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....
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