Do You See It As An Opportunity Or Threat When The Crypto Market Crashes?
Everyone is so excited when the crypto market goes up. You get a feeling that it will only go up. Great news about cryptos pops up from every corner. And you feel this is it.
You see the prediction about BTC price consistently hit. Hearing what other people are talking about, you think it would hit 100K. From there, the crypto market keeps falling. The market moves sideways for a while and then again it starts bleeding.
What just happened will happen again in the future. If you invested your hard-earned money or even borrowed money with the hope of making a lot of money quickly to change your financial situation and repay the loan, you are in a bad position unless you had an exit strategy and exited from the market according to your plan.
You will not see getting into crypto as an opportunity if you are broke by buying the top and holding the bag. Even the popular saying buy the low and sell the high did not work for you so far. You bought the low, it gets lower. Again you bought the lower, it gets lower. Now you are wondering how low it would be or is there any chance it will get back.
Whether you accept it or not, I do think 98% of cryptos that we see in the bull run, you will find a hard time finding them in the next bull run. HODL is definitely a good strategy, but what you are holding the whole time can make or break you.
When the crypto market crashes, this is an opportunity to take your entry. Getting into high conviction assets is a good idea. You are convinced from your research and analysis that it will not only survive in the bear market but also thrive in the next bull run.
Do you feel like you just missed the train in a bull market? I do. Guess what? You can choose and get on the train before it leaves the station. And you get this opportunity when the crypto market crashes. It can be a blessing to make fortune next time.
It is important to make your decision on the time frame before making any investment. How long are you going to hold the crypto? Even when you do trading, you decide before taking an entry whether you are doing day trading, swing trading, or position trading. You have a clear idea of what you are up to. And you can execute your strategy properly.
How you see something and react to that situation can change a lot of things. We all make mistakes. Sometimes what we learn from our mistakes can be a turning point in our life.
This is not financial advice. In this post, I shared my thoughts. It is for educational/entertainment purposes. I will not be liable for your action. So do your own analysis and research before making any financial decision.
So when the crypto market crashes, how do you see it? Is it an opportunity or threat? Please feel free to leave your comments. Thank you for reading this post. That's it for now. I'll be back with another post.
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I think I'm stressed out in both situations equally... the crashes piss me off for obvious reasons, and the bull runs make me both: regret not making certain moves beforehand, and reel over guessing the top so I can take profit.
I'll be dead soon... I know it.
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I know what you mean. After all, we are human beings. We have emotions and feelings. lol...
Relax. No one will be dead. We are on this together. :)
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Much appreciated! I go a bit overboard sometimes with my emotional analysis, it's true... I'll likely survive. Thanks for taking the time to chime in. Cheers! 😀
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The latter is only if you are not strong (patient) enough. Cryptocurrencies are going up and down, so they will go up eventually. Maybe in a few months, maybe in a few years, but they will go up. Obviously there is a worldwide demand for them. They can change the whole financial system in the future.
Having patience is the key when you HODL. You have a long-term plan and you make your move according to that. Thank you @xplosive for sharing your thoughts!
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I feel like the market crashing is just part of life. I don't necessarily think it's an opportunity or threat because I generally just follow my own plan. Emotions get in the way of investing and trading.
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Yes, the market does not move the same way. That's why we see uptrend, sideways, and downtrend. If you follow your plan, that's great!
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When markets crash smart investors seize the opportunity. Imagine buying IBM stock during the Black Monday crash of 1987, your entire family would be wealthy today. This is not financial advice just my opinion.
Timing is one of the most important things when you make an investment. Even though you buy a good stock or cryptocurrency when it is on the top, you cannot do better. Thank you @mba2020 for your feedback!
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