The Market Is Crashing, Don't Panic, Be Prepared To Benefit From It!

3년 전

The cryptocurrency market is extremely volatile compared to other markets. This is very normal for a nascent market. So, don't panic and learn how to benefit from it, instead.


panic.jpg

High Risk, ...

There are so many reasons for this high volatility in cryptocurrencies:

  • Regulations change every day (Think: SEC, China).
  • New technologies emerge (Think Lightning Network).
  • Exchanges get created, sold, and hacked (Think Poloniex, Binance)
  • Liquidity is so little (Think pump and dump groups).
  • and so on ...
    That is why it is considered to be a high-risk investment. Therefore, you should only invest what you are willing to lose! I am sure you have heard this so many times but did you really listen?! This is very important.
    If you are investing your life-saving money, it would be more probable that you would be subject to market psychology. This will make you lose a lot of money. The following chart explains market psychology very well:


pscychology.png

I have talked in more details about this in a previous post: Use Psychological Analysis, Not Technical Analysis.

But High-Rewards

It is true that cryptocurrencies are high-risk, but they are high-rewards too! Look at this chart:


best performing.png
Source

Number 10 on the list is Bitcoin, and it has a gain of 1,318%. That is definitely high-reward. But how can we benefit from such a market?

Do Not Panic, Benefit From The Opportunity

When the market starts to crash, do not panic. Instead, consider this as an opportunity. Use the market psychology to your benefit. For example, make a list of your 10 best cryptocurrencies. Write down your dream-price for each one of them. Remember when Steem hit $7.30, and you were saying: I wish I had bought more when it was $2? Well, now you have a chance to do so.

When you are done with your list, go to your favorite exchange and put buy-orders with those prices. In many cases, the price spikes down for some few minutes (or even seconds) and your orders get executed.


spike.png

What Is Your Top-Ten Cryptos?

So, what are your top-ten cryptocurrencies and what is your dream price for them? Please share with us in the comments.

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I keep telling to the people that cryptocurrencies are undervalued compared to stock market thats has staggering $73 trillion of value.

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Thank you, @cortexx.
I don't think it is right to compare stocks with cryptocurrencies. When you buy stocks, you actually own a share of the company, but when you buy a coin, you don't. So, the market cap of a crypto project should not be compared to the market cap. of a company. They are different.

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Blockchain is changing the world, it will allow 2,5 billion people to have acces to a self phone, a bank acount, an insurance and the most important a total freedom of speech online. I feel like we are gonna see some revolutions in the next years around the world. That sounds exciting ! Stocks just allow rich to stay rich and multinational to get bigger.

At every crash its a buying opportunity for everybody go for it

Every market crash is an opportunity to profit later. I don't get why people don't realize that. There's no "straight graph" guys! Come on!

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Lol...there is no better way to put it than you just mentioned, there is definitely no straight graph and the path to success is certainly uneven.
Nice one @gvincentjosephm

My top 10 will be:
BTC
LTC
ETC
NEO
DASH
ZCASH
BCH
STEEM
LUN
DNT

Great idea to remove the depression.... cryto-currency must be benifited to all if we know the trick...
thank you sir,@sadekj..
@upvoted @resteem

What happen why we have blood bath today... I heard no issue today and negative news about crypto.

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There is no real reason. But this might be the trigger.

The dip is always the right time to buy and enjoy the rise later

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Yes. That is true!

We need more people - me included to keep posting. Steemians keep calm. Do not sell your coins unless you desperately need money.

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I also think whoever is coming into the crypto space must be enlightened on the benefits and the fundamental reasons behind these cryptocurencies and the desire to make money from it will then follow nicely and unshakable regardless of negative impact

Thanks for the reassurance. I'm new so it is odd it keeps dropping. Thanks for the explanation.
Janice

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If you are new, I strongly suggest that you invest some time in learning before you invest money.

great info, will be following your posts. Go Crypto for the win!

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Haaa Is very complicated

hello @sadekj Good to see your posts here and I am new here on steemit. I came into crypto in late dec 2017. Thats when everything was ATH and since then everything started dipping, dipping, dipping.. of course i learnt to BTFD.. but i've been buying the FD since i started, and everything is still dipping dipping dipping.
Stage 2 was i recently bought a ledger Nano S, and it came yesterday, i wanted to put all my coins in and forget about it. that was when i realized that most of the coins i have are shitcoins and i cant put it there! I still see everything dipping dipping dipping..
stage 3 was quite nice as I recently got a steemit account and now i focus my efforts to create content with my own home made bot that I created due to all my frustration. Its a bot that analyzes all the crypto news on the internet and identify some macro analytical trends across the market. This is in hope that newer people wont get rekted like i did when i started. I am new to steemit and i love this community. Ranging from crypto analysis to art/philosophy work, we have them all. I am very excited to be here as it takes my mind off my blockfolio/delta apps. I like to read posts like yours as it gives me hope. Thanks for being here and assuring me that all will be fine.. it will be fine , right? =) especially now that I have something to do, my own little space in steemit. =)

Well said mate, buy the deep !