Learning how to stomach cryptocurrency volatility
Having been in the cryptocurrency world since 2011, I can tell you first hand that these markets are more than just extremely volatile; it is something entirely different. Seeing as there are so many that are new into the world of cryptocurrency, I feel a strong obligation to share my two-cents. The first question you must ask yourself is, why did you buy the asset in the first place?
Did you buy your cryptocurrency investment because you believe in the technology behind the asset, or do you just believe in cryptocurrency in general? Or do you just feel like like you missed the boat on Bitcoin, and now is your time to make a fortune.
If you did in fact buy the asset because you believe the blockchain will succeed, or you back the specific technology relevant to your investment, that than means in the future, it will appreciate. The problem is every day I see big money pulling out of certain coins, because of market fluctuations.
These fools get scared. Don't be the fool. Don't watch the graph until you want to sell. Not 1 week, not 1 month, not 6 months. Check back on your investments in a year and a half; or 3. Otherwise you may fall with the flock and sell all your asset for no reason.
Well said, I see dips and they don't even scare me at all - I do feel about bad because I know it means there are people who are panic selling and taking losses. I'm in crypto for the long haul and it would take some thing drastic to see my gains lost so I am lucky in that sense but still I am prepare for whatever comes.
Thank you for the reply. I also am in for the long hall. I threw you a follow.
You're welcome - much love and Steem on!
I am only one year old in crypto field, I need to learn from you. teach me master!
Always down to inform others! That is what this is all about! throw me a follow, ill do the same.
Buy the dips!
Yes always true, but then you are looking, and might fall victim.
If you research what to buy you should be okay buying in the dips imo.
agree.
I'm on my first crypto-week, do u think buying now is a good idea? I did buy this and im on the red lol,... but im not selling, i just buy and forget about the coin
Really buying anytime is good, then just secure the coin and forget about it.
Thank you
Very sound advice :)
I've lost some sleep over cryptocurrency lol :)
Looking at the charts all day can get very addicting. Got to step away sometimes or you'll start to lose it.
Followed and Upvoted. I have only been into Crypto's for 2 months and I can clearly see they have huge spikes up and down. Thanks for the info and I look forward to you next post. What is your feeling on Steemit will it settle out around $2.00 eventually? Thanks
Thanks I appreciate it! I believe in years you will see Steem above a price of 15 dollars.
Well hey I could live with that. Do you think that eventually Crypto's will merge and after awhile only be 20-50 different Crypto's or do you think there will be thousands of different ones by then?