EMBRACE THE FUD!
Embrace the FUD! FUD is your friend!
OK, maybe I should clarify... When I say 'FUD is your friend', I mean facts - any information, whether good or bad for your investments. It happens too often when I'm browsing YouTube, Steemit, Reddit, /biz/, or any other platform, that I see people who have a critical or contrarian view get dismissed for 'spreading FUD' (fear, uncertainty, doubt). As an investor, you should be wary of any misinformation, fake news, or attempts to manipulate the market, but you should not dismiss people who don't agree with your positions.
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FUD is a dirty word
Saying someone is spreading FUD when they provide information counter to your position is the equivalent of plugging your ears and saying 'LA-LA-LA! I CAN'T HEAR YOU!' It's very lazy as it does not force critical thinking to provide counter-arguments. Instead, you should process the information and think to yourself how this impacts your investment. Re-evaluate your investment decision if necessary. As a result, you will become more confident about your decision to invest in a cryptocurrency.
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Focus on weaknesses
It's easy to focus on a crypto's strengths. Instead try to focus on the weaknesses. Ask yourself what could absolutely destroy your favorites cryptocurrencies. Then, ask yourself if these weaknesses can be overcome by the developers / community and if the risk is worth your investment. This is a very important exercise since it will shield you from becoming fearful, uncertain and doubtful when the market goes down like it does today. If you are aware of the project's risks and weaknesses, you will be able to shake off any crashes and take the opportunity to increase your stake at a discount.
Be like Vitalik
When doing research on Request Network I stumbled on this gem: Vitalik Buterin completely trashing Ethereum, or at least that's what it might look like on first sight. In all actuality, he's aware of the weaknesses / challenges of Ethereum and thus better equipped to face them. This is in stark contrast to some crypto founders (cough, Justin Sun, cough, cough, TRON).
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How much did your portfolio drop in value today?
Did you feel fearful, uncertain or doubtful?
Let me know in the comments below!
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BTC: 1NQLE91WbHHMDCm2rbyg6yadhz423YsMnM
ETH: 0x050451c41c91a72683c99472f0566b55a4c6627c
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Thanks!
-longcat
I lost about 60% of my gains in the last 8 days, still sleeping like a baby, did not sell any, bought some more btc at $9500, private keys on a hardware wallet. Fundamentals unchanged, future never looked brighter. Looking forward to 26th of January, when initial CME futures contract expires, before that i think we will move only sideways, but after!
Me too, I even found it amusing (in a weird way) refreshing my app and seeing I was down 40%+.
Good timing on that BTC. I did not buy any extra since I was expecting either a major crash (to ~1000-2000) or a sudden boom to 30k. I decided to wait since I could always buy extra in case of major crash and was already invested in case of boom. Seems like we're heading for the boom scenario currently.
It was the biggest crash in the last 2.5 years, i would call it a major one :)
I am not sure that we saw the bottom yet though...we will see.
Just checked, in the last 24 hours +66.59% gains. lol
Fear, uncertainty, doubts are, for sure good friends to beware of nasty mistakes, making to explore, investigate and research trends, be oriented in news and in the whole atmosphere of the realm.
hey @longcat, are you still doing the analysis on EtherParty (FUEL) ?
Yeah, I will! I planned to do it throughout last week but didn't manage to free up the time required. Hoping to do some work this week. I'm planning to release multiple parts where I focus on one big topic or a few small ones. That way I can post more often and we can have some discussion. Stay tuned and apologies for the delay!