Crypto Price Dip is Buying Opportunity and I bought the DIP..
This weekend was not good for crypto lovers because prices are crashed and bitcoin is not trading below the mark of 50k USD. I can see people in panic but this should not be the situation because this is not the first time we can see it. It always happens in a gap of 3-4 months and I think we must have some surplus funds to do shopping during such price dump.
I see people changing their thoughts about crypto and its strange. I recently got to know that a few of my neighbors trade in crypto. They have been doing it for almost a year and they did enter the market during the doge time last year. They are 3 and they keep on sharing with each other however they did not share about it with anyone because of media things. Last week during the monthly society meet I got to know about and I shared with them that I m in crypto since 2019. AT first they did not believe it because they were not expecting it and second could be their male ego as how can a girl be in crypto when the majority of men's are not.
When I told them about a couple of coins and projects then they realized that my knowledge is more than what they know. They trade almost every day to earn money and I rarely trade and I look for ways to generate passive income. Trading seems risky to me and that's why I trade only things. This weekend I met one of them and he was sad as he lost some money due to a price crash which is obvious. No one wants to lose money but I wonder why people get so confident when they know that its the market and no one can predict the exact move. Last week they were so optimistic that bitcoin will touch 100k USD in 2021 and now just within a week they have changed their view.
I had the conversation with him for about 15 minutes and told him that I rarely trade so I don't care for such a market crash however I surely do discount shopping when it happens. I simply believe that crypto is here to stay and have seen a lot in my tenure of 2.5 years. When we believe in this revolution then we must stick to it and being a market such things will always happen. We know that its market manipulation which we can't control then its better go with the flow.
I wanted to buy some tokens which were at high prices earlier and I got the same at 30% less price which is a great deal for sure. Although I did not have any big amount to invest but had some BUSD that I used for my discounted crypto shopping and now waiting for the right time when I can sell and book profit. I am not in hurry and I can even hold this for long so there is the least possibility of loss. I have done the same many times and I never had a loss so I am confident that this time as will be able to get a decent profit.
I always try to keep a few hundred $$ aside so whenever this happens the I can use that funds to buy and hold. I also did buy some UDST from the Indian exchange when the price was down by 15% or more and now that price is again back to normal. In India, the USDT trade price is about INR 78-80 and I got USDT at INR 73 which I could sell at INR 83 in just a week's time. Investment in the stable coin is at least risk so whenever I see a dump in USDT then I do as much as I can.
So what are you buying in this dip?
Thank you so much
Stay Safe
We should be careful to not try to catch a falling knife.
Greetings @reeta0119. Those of us who have been in this space for some time I think we should already be used to falls like this, and as you say, we should even be prepared to take advantage of them, while others enter and panic and sell opportunities to buy open up, just have to be attentive. I am glad that this was your case and not like your neighbors who change their minds when they see the red candles.
Greetings @ reeta0119
No doubt that this type of market falls are very beneficial to buy more token of any currency , however you can also be harmful if they fall too much and the market collapses in an exorbitant sales, you have to analyze very well those movements to not get caught. I hope you can make a profit.
Thank you very much for sharing your publication.
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Solid read.
Bear times are what differentiate between the strong hands from weak ones. The former always take the opportunity to buy the dip while the latter fall into an endless hole of fear and FUD
Happy to know that you've managed to obtain some crypto at discounted prices
Hello @reeta0119!
The dip is indeed a great chance to invest yet no once expected such fall out of nowhere, so we still have to be careful and wait for stability to see when we can buy and sell, so it is all about the studying of market which might help someone in such siutations.
I invested a little bit in Avalanche after its fall in price and gladly barely lost since I made some exchange in tokens to USDT just at the right time.
Thanks for sharing!