Ohh - Crypto isn't having a good day.
While the prices are currently not as fun as they were in December, I don't think that Crypto is dead nor dying. There are so many reactions today on various social media sites I am on. A lot of people pretty new to the space who sound like this..
I've seen and talked to some stressed out people, and I am not here to tell you what to do
In Crypto there is a culture I find a bit odd where other people are very interested in telling you what to invest in. I can see how it developed, but it still strikes me as strange. I also see a lot of people who are very interested in telling you what they think will happen. Some of them have more experience than others. If someone's only experience is being a good trader during a hot time within a hot market - weigh that in to how much weight you give their views.
We all have different goals, different risk tolerance, and different financial goals. Depending on how invested you are or aren't these times can bring on some stress. I tend to feel my emotions, not much I can do about it, they are physical and emotional reactions. I do try to not act on them while I am experiencing anxiety or stress.
Stay calm and realise that guy who is screaming at you to buy or sell may not understand your current financial situation, goals and path.
It isn't up to me to tell you what to buy or what to sell, but I would say check your emotions before making big decisions. If you feel you need to make a decision maybe try talking it through with someone who you trust.
Stay the Course
Yes my portfolio has also been shrunk by half, but I am not in stress becoz this was predefined for me before investing.
It's definitely time to hold. It's crazy how low prices are falling. It's kind of a really good sale day though if you've got some extra money.
@whatsup,
Strong hands wins and Panic will loss! This is crypto and obviously this is not an investment! Some people might think crypto is an investment! For me this is just a kind of high fluctuation market place and we are surfing on it!
Cheers~
It's funny that these dips don't really affect me as much, cause most of what I have invested/invest is coming from Steem. If they all bleed at once it doesn't make much difference transfering one to another. It's all a longterm hodl for me anyways... And I know that what I am invested in has value for many years to come.
Thank you for some calm insight into the situation. I'm new to the market but I am honestly "annoyed" for a lack of a better word, at the dramatic responses from everyone in the last few weeks. I'm certainly no expert, but from what I've gathered from experts, the best thing to do is relax.
Again, thanks for your casual approach to it. People need this. Cheers!
It's unquestionably time to hold. It's insane how low costs are falling. It's sort of a better than average deal day however in the event that you are very brave cash.
I'm trying to be like:
Buy in the red, sell in the green. If you're still holding, keep on holding. Consider increasing your position in the dip. Too many new investors who are overly emotional in the market right now, taking positions that are wayyy too big for them to comfortably handle a short term dip.
I don't touch my holding portfolio, pretty much only add to it - unless the price spikes real high (like when XRP pushed above $2-3), in which case I'll take some profits and rebalance my portfolio.
For me this has been perfect trading. Loving it. Buying dips and selling on the bounce, but only quick entries & exits - haven't taken any serious positions. Like in & out within an hour or two.
You have to stay patient and coach the noobs through this as a crypto veteran. I remember the sage advice of @sequentialvibe in September. He looked at me calmly and stated:
I'm pretty much a noob too. I am just noticing a lot of other noobs telling everyone else what happened, why, and what will happen next. It makes me cringe a little. How do you give financial advice if you don't know what a person is trying to gain... and when.
We will see bullish recovery followed by sudden drops, and real recovery from 16th Feb onwards. Followed by rocket rides March onwards.
lol... We could. We could also see the failure/Discrediting of Tether.. (Add more fud here) and a panic exit.
I am in and hodling. I lean towards your assessment, but nobody knows what we will see.
This is true as well. I have always been the wet blanket voice of reason in our group. More opinion based upon personal exploration rather than financial advice really.
I remember feeling like this in September. Then I recall what November was like. I will not forget it when it happens the next time. Just worry a little less when it does.
First half of 2018 will be either RED or RANGE TRADE for bitcoin and the second half will bring the bull run for bitcoin.
Thank you...steem on and stay blissful...