Things that rise sooner or later will tend to fall ... except in space, out of reach of the gravity of any mass.
This, in the world of speculative markets is also like that. Simply by the fact that offer and demand are extremely variable matters. Even more if we consider the volubility and impressionability of the human mind that is, after all, the one that sustains all this invention.
The opportunity to become millionaires simply by investing some 1.0 money in 2.0 currencies is a trend. So it is not surprising that there are those who think about suicide when Bitcoin and the rest of the decentralized electronic currencies fall as abruptly as they have just done.
Therefore, there are some fundamental tips to survive the fall of Bitcoin and cryptocurrencies.
1) FOR BEING REPEATED IT DOES NOT STOP BEING IMPORTANT
Do not invest what you can not afford. Playing with cryptocurrencies is fine, as long as you do not compromise your financial stability. Do you understand it? Well, never forget it.
2) A THICK FOREST DOES NOT APPEAR SUDDENLY
Today a cryptocurrency can be worth 1 and tomorrow 1000 but you can not be blind either. It is not usual and, in addition, after reaching a value of 1000 it can fall back to 1. Remember, this is the Market, my friend. Offer and demand, you know. If you believe in a cryptocurrency, hold it with the idea of cover yourself with gold or sell it when you get an acceptable profit. But do not go crazy looking at each hour to see how things go.
3) FALLING IS NORMAL
And if you have not fallen many times, you have not had childhood. In fact, Bitcoin usually falls precipitously every new year. And, nevertheless, its value goes in crescendo. The fall of this year, as has happened before, still leaves it above the level reached the previous year. And, understand it, as it is a finite coin (21,000,000 of Bitcoin will have without discounting those that get lost along the way) the reason says that it will continue to be a safe value. There are many things that affect the daily value of Bitcoin. It is evident that many are scared when the media talk about regulations and prohibitions, especially in the thriving markets of the Far East. And yet, Bitcoin will still be alive or we can go looking for a cozy cave to spend the rest of our lives.
4) THE DRAG EFFECT
If Bitcoin falls, the others also fall. It is not that people have lost interest in Bitcoin because in fact there is much more interest despite the fact that other cryptocurrencies have gained some ground. But if the market is scared, it is scared seriously. Now, the market is still there, so who knows how this is going, take advantage of the opportunity and buy cheaply. That's the game, is not it?
5) FUCKING WALLET
That wallet that also shows you the value of your cryptocurrencies in euros, dollars or the fiat currency in which you think more. It's screwed up to see that your portfolio is worth less and less because, deep down, you think that euros or dollars are the "real money" and you can not get that out of your head. It is true that you still have 3 Bitcoins and 20 Moneros but what worries you is that they are equivalent to a lot less Euros. I told you once: choose what currency you want to think about. If you have the same Bitcoin as before, why would you commit suicide? Oh, well, maybe you do not think it's real money.
6) YOUR REFERENCES
The issue is that Bitcoin is a reference. When your goal is to get benefits, if you are having more Bitcoin is that the thing goes. Is it worth complicating? If it has gone down, take advantage and get more. If you are playing with other cryptocurrencies by exchanging them for Bitcoin, look to see if they have fallen more than Bitcoin iteself and buy. If you bought Zcash at 0.07 BTC and now you can buy it at 0.045, life smiles at you.
7) SHIT OF ICOs
The world is very crazy with the ICOs. It is understandable because investing in the stock market is really uncomfortable. The new stock market are the ICOs. Anyone takes out a new currency (or token or shares or whatever you want to call it) and we jump head on to buy. Stop a moment! Investing in ICOs is trusting that the project that is being financed is interesting and viable. If after studying it thoroughly you think it's like that, go ahead, put some eggs in that basket. Certainly you will have to wait for the roadmap they have shown to develop and that is, after all, time. But do not give them much importance either. In fact, I'm not excited about it.
8) ABOVE ALL, DO NOT SELL IN LOSSES
Letting yourself be carried away by panic is probably what the big speculators, who know markets very well, want. When you sell losing they win buying. If there is a strong fall, get away from the screen and graphs, dedicate yourself to enjoy life and come back later. You still have your coins there. They will go up, even if it takes months. What makes you despair is seeing a graphic with red candles every day. Do not fall in the trap.
9) FOCUS
There are literally thousands of cryptocurrencies. You may not get to consider them all but it fills you with adrenaline to see those incredible opportunities to get rich at your fingertips. And, of course, you want to buy them all. Then you come to a situation where it is difficult for you to remember everything you have bought and store as a treasure. Believe me, that will stop you from living. You are not a Wall Street wolf with several computer screens always on and a lot of alarms set. I knowit, because you are reading this and because you have more perspectives in life for sure.. You can get great benefits if you focus. Invest in some cryptocurrencies, have clear objectives and enjoy. For example, now my goal is to get a handful of coins from the new (and more interesting) Bitcoin Hard Forks. So I'm getting rid of everything, transforming it into Bitcoin (hey, now it's cheaper!) and when I catch the penultimate Bitcoin Whatever, I'll calmly look at other cryptocurrencies.
10) DO NOT EVER FALL IN LOVE
Do not fall in love with a coin. They are nice and interesting but they are only bytes. Seriously, do not let emotions get to you just because you have those fucking coins there on a wallet since I do not know how long. Save your emotions for matters that are really worthwhile. And focus on being happy.
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My English is far from perfect.
But your vote can help me a lot
Thank you so much!
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