I think a key in the crypto market is to put in money you can afford to loose and that wouldnt hurt you too much if you lost it, this is going to make it much easier to get through periods like this. If you are over extended in crypto you will have a hard time to sleep.
the day is always darkest before dawn, but that is the perfect time to buy, when everyone is giving away their crypto for a good price
Yes. Exactly. A lot of people put in more than they could afford to lose, plus they expected too much profits too fast. You will not become a millionaire with 1000$.
I put in a lot in cryptos, but I did the research and knew that the market was grossly undervalued when I did. I did the math and calculated how many owned, the mcap compare to stock market, the implications the tech would have etc. I had never imagined to see it at 800 billion this early.
I will not start to bleed until mcap $100 billion. So even though I can get a slight headache from this, no jumping from bridge nor stroke :)
Haha and more importantly like you say no eating your own dick lol . Jumping in when the hype is the biggest is never good
Yup. Rule number one of crypto. Don't say eat own dick.
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This and it matters when you want to cash in your gains or cut your losses. If you have a short-term investment strategy the drop is super-scary and if you're over extended in crypto you've done it wrong. If you think long-term a drop like this is disheartening, but nothing to lose sleep over. It's a very volatile asset and crashes and bubbles are practically guaranteed. If you don't need the money tomorrow, hold it or even buy when it's low like now.
Exactly, it puts you in the right position to make even further gains. Patience is key 🔑