A great start to the week to all Project Hope members, I hope your weekend was special.
Despite all the good things we have experienced this weekend, we cannot deny that we have seen a big drop in the price of cryptocurrencies, starting with Bitcoin, which has dropped in an impressive way, not to mention Ethereum, nor the rest of the cryptos, obviously, for now we could make the exception of TRX in this bearish combo.
But, are you nervous about this new price reality, I particularly believe that it is a cycle, in these years I have been able to see that unfortunately cryptos are affected a lot by the FED announcements, they also have a similar movement, largely to what is the stock market, therefore, if we judge by that, I think I can say, without being afraid to be wrong, that it is a cycle and it will pass and in a few months, we could see a new price recovery.
What I see is that we have to learn from this, because while it is true that the fall is intense, and can alarm, what happens is that the weaker hands sell everything they have thinking it is the end of the market, and end up losing a lot.
The little experience I have accumulated in these years has allowed me to see several things that I consider necessary to highlight here:
- The market always recovers: even if we refer to the stock market in this aspect, we will know that in the decades of existence, it has suffered falls of up to 50% or more, and with the passage of time, which can sometimes be months or even years, it ends up recovering and overpassing the level at which it was before the fall.
With this I must emphasize that we must cultivate patience, because it will be what will allow us to overcome this situation in the best way.
- The most astute buy in these falls: I think you do not have to be gifted to be an investor, because if you are very "smart" rather what you end up is limiting yourself a lot, I can say, because you think too much about things. Now, there is something that we must always keep in mind, when these downturns occur, massive sales occur, and it is logical that for someone to sell, there must be another one buying.
Perhaps someone will say, But how can I buy if my capital has gone down with this drop?, this is when I speak of astuteness. Many, actually, the vast majority of us here earn cryptocurrencies frequently. It would be good, for example, to be astute when at times when the coins are at a good price, to accumulate some of those profits in Stablecoins (UST or USDT, for example), with the sole and exclusive intention that when these market downturns occur, we have liquidities to be able to buy.
This is a simple strategy, which obviously implies having patience and always looking at the medium and long term, don't you think so. I would like to know what you think about it. Thank you very much for reading.
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Twitter | Instagram | Discord | Youtube | Telegram: @josevas217
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hello @josevas217,
I share your opinion my friend, this is simply a classic that repeats every so often, what happens is that people panic and sell their currencies, another important point to have is that this fall of the market helps many people to increase their capital by buying while the market price goes down and selling when a bull run occurs..
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Hello dear friend, certainly the key at this time is to be patient, we have already gone through significant falls and then we see how the market recovers, and it is a good advice to accumulate some capital in stable currencies to buy in these falls and then take advantage of it. Regards my friend!
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Yes, that's right, we can only wait. Because whoever has altcoin and sells them at this time will surely sell at a loss.
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Greetings @josevas217 no doubt that these are times of great uncertainty and it is advisable to be patient and the strategy you propose to safeguard the cryptos with a stable currency is very good.
Thank you very much for sharing your publication
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Uncertainty in business and finance is a constant, so patience will always be a great weapon to overcome these moments.
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Hello friend, it is important not to be afraid and sell in this bear market, it would be best to see this as a buying opportunity as cryptocurrencies are on sale, in particular I do not have stable coins to buy in this bear market, however I plan to accumulate the tokens I receive for publications.
Greetings thanks for showing us your point of view in this fall.
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It is better to accumulate as much as possible and wait for a good rise.
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A lot of people are really panniking looking at the situation of the market now. Most especially the current dip. I believe the market will still rise but there is probability the market will still dip
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Certainly the market dump isn't first of its kind as we have experience such dump in the past its obviously a circle which will in no time be recovered.
Sure as a crypto investor we must plan for the uncertainty which include sudden market dump patience has always been a good tool in crypto and saving USDT for such moment is very important i agree with you friend we should learn how to hold USDT against market dump so we can take advantage of the dump.
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Everything is probable. You just have to know how to wait. There is NO other way.
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Patience is the most important component of a successful crypto investor. I heard that even CZ (the CEO of Binance) lost over 70% of his net wealth after he sold his house to buy Bitcoin in 2013. And now, we can all see the high-profile position he holds
Thanks for sharing :) @josevas217
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Great example you share, it's like that, and at the precise moment I'm sure he was told he had done a crazy thing by selling the house to buy BTC.
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The panic level is extremely high since the drop in price occurred, we should know that moments like this are inevitable in the crypto space, that is the reason why we need to patience with our investment decisions.
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Extreme panic, that's how it is. And with panic you can't think straight, you have to wait. There is no other way.
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Most of us that are really new to the game make this mistake a lot and we end up losing drastically when what we should do, is simply hold on for the market to adjust and help us make a profit.
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You just have to know how to wait. And look for alternative sources of income, because the truth is, to sell at current prices is to lose for sure.
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