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Financial Markets vary in risk vs reward. When risk sets in, especially falling prices in a sentimentally bullish market people tend to get distraught, depressed and some eventually lose hope. However, it is good to remember that prices don't move in a straight line. A bullish market structure consists of higher highs and higher lows. People panic when price makes higher lows, some may panic till they give up. I would like to encourage you that it is just a paper loss unless you sell. Patience is a key virtue in the crypto space. Diversification into different instruments and within an instrument is important to fully benefit from varied impacts on sectors. Sooner or later the price will rise like a phoenix creating new
#ATH. Where will you be when this happens?
There are various things you can do to maintain your sanity when red candles dominate the market and tears roll down your eyes at the site of your portfolio:
1.
#HODL. As per current
$BTC price, most long-term hodlers are still in profit.
2.
#DCA . Dollar-cost- averaging helps in reducing overall loss and ensuring more gains once price rises.
3. Put buy limit orders in presumed key levels and stay off the charts for a week or so. You need peace of mind.
4. Research and buy new coins with upside potential. It is said, "Be fearful when others are greedy and greedy when others are fearful."
5. Sell to reduce further loss. The decision to sell depends on various individual factors including coins in delist list, selling when in profit, selling to buy at a lower price, etc.
As long as we are alive, hope is always alive. Do not lose hope before hope is lost. Fight on for tomorrow will be better than yesterday. Weeping may endure for a night, but joy comes in the morning. We need you to be part of the rejoicing for days we fought the bear and won. The day of celebration when the bull charged on and our pockets filled with abundance.
= Example- I first bought Bitcoin at around 45,000USD. Price then fell to below 16k. During that time people despaired, but I bought at 40, 30, 20 and 16k. The price later soared past 100k. Don't give up!
#MarketPullback #BTC