August 2017 will be one of the most important periods of the cryptocurrency ecosystem: in fact the number one crypto, Bitcoin, could split in two different coins, bringing fear and uncertainty into the market. Summer is a particular season for cryptocurrencies: especially on weekends, big investors tend to sell their coins to receive their profits. This creates a chain of events: as big investors start selling, gradually all the small - and often inexperienced - investors panic and start selling off every crypto they have. The big mistake of small investors is that they don't have a clear plan and as soon as they see a -20% on the coins they bought, they start selling at very low prices: basically they're losing money.
I'd like to underline that the best strategy for a beginner to get into the cryptocurrency world is adopting a long-term strategy (at least 1-2 years!): in this way you can control better the stress caused by the investment and you're not risking with daily or weekly trading.
Coming back to the main point of the article, I was saying that by August 1st (or even the end of July) the market could go down even more than the past weeks: Bitcoin destinity will affect the entire crypto ecosystem. But if you have a long-term investing mindset, the more the prices fall, the better: you could buy more coins at a cheaper price!
Think a little about the worst scenario: Bitcoin splits and all the other coins are losing value. What would you do? Sell your coins to limit your losses or buy more? If you put your money only on trustworthy coins and - more important - you invest only what you can completely lose, you can quietly continue buying and in some years you will be compensated. It all depends on your mindset: if you think that investing is a certain way to earn money, please don't do it. Investing - expecially on cryptocurrencies - always involves risking.
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Source: CryptoBlog.tech