3 Unbelievable Ways you can Thrive When The Cryptocurrency Market Plummets.

5년 전

3 Unbelievable Ways you can Thrive When The Cryptocurrency Market Plummets.


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When entering the Cryptocurrency space you will be faced with market drops that you have likely not witnessed in any other form of stock or bond, with huge -50% swings occurring on a regular basis you must be prepared for the worst.

Here's How you can still win regardless of what state the market is currently in.

HODL:

One of the most renowned statements in cryptocurrency is the term 'HODL', this is an acronym for 'Hold on for Dear Life', it also can have different meanings but this is the most common one. The reason why this method is probably the most powerful is that this space is an ever-growing technological field that is going to consistently grow over a long period of time. Therefore, selling early is very likely to cause you more long-term pain than short-term pleasure. I am sure there have been times that you may have held a particular coin and decided to sell it in fear and quickly regretted that decision at a later date, right?

Buying the Dips:

The second most important strategy would be to simply buy the dips, this could be you re-stocking on your favorite cryptocurrency, or diversifying your money across multiple coins that you are in favor of. Either way dips in the market created an amazing opportunity to do this and as it is commonly quoted in the stock market world, 'Buy Low & Sell High', is very true after all. 

Selling Before The Drop:

Now selling before the dip could be classified as the best option, however, the problem with this is that, how can you predict it is going to come? Well, you actually can but never with a 100% certainty, in fact, no person can precisely predict that cryptocurrency prices are going to drop at a specific time or date as there are plenty of other things to take into account like news that may affect prices majorly. The only thing you are able to do in this case is to invest into strong coins and use technical analyst to better the chances of making a correct position in a trade.

Thank you for your time on this post!

References - 1, 2 , 3.


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  ·  5년 전

Hodling for the win, the ups and downs are usual in the cryptocurrency.

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everyone seems to love the Hodl haha!!

I have a feeling the market is coming back soon

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Always has ;)

I personally am going to HOLD some of the cryptos that I have because I think the price might increase which could potentially make me a good amount of money.Cryptocurrency world is weird like you said and you never know for sure when its gonna go down or up.

Thank you for contributing to the Steemit Community.Keep up the great work and I'm looking forward to your next posts.

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That is a great idea Castbound! It certainly will ;) You too!

Always hard to really predict the drop, most of the times I can feel it coming but in the end I'm not sure so I'm always HODLing... #hodllife

Feel free to check out my blog @maxdigi, this way we can support each other.
Cheers
maxidigi

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#hodllife love it :D Followed.

Seems a good strategy. Only if I could spot when the market tops🤑

Haha well we certainly can't sell out into USDT -- risky.

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Whole lot of damn trouble haha.

"invest in strong coins" good advice because a lot of ppl only buy the FOMO coins and miss out

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That sure is true ;)

3 strategies to help you survive in the cryptoland!

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Yep ! :D thanks for the comment!

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