Keep Calm and Ignore Blockfolio for a Few Days
That's my strategy right now.
Does this chart look familiar to any of you?
Usually it's easy for me to ignore it when traders cry "Bloodbath!"
Usually it's just noise from a bunch of newbie traders who aren't used to seeing red for more than 24 straight hours.
Usually...
This is different
It's a warzone. There's blood in the streets. My total holdings have almost halved their fiat value in the last two weeks. But still I say, "Keep calm."
This will pass. People are just uneasy in the uncertain days leading up to Bitcoin's activation of SegWit2x. I'm no expert in crypto, so if you want to know more about that I would recommend reading @cryptoclub's fantastic post on this subject. Don't listen to me. Defer to the judgement of an expert.
Just relax, this is still a new and consequently volatile market. We just went through a crazy upswing, it should be no surprise that it was followed by a downtrend.
HODL. Everything will be okay.
~Seth
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Be greedy when others are fearful. Short if you're bold, and know what you're doing. This is a great opportunity to Increase your position on the cryptos of your choice, but it is not without its risks.
If you are new here, i urge you to follow OP's advice. If you don't know how to eliminate emotion from your decision making process when trading, I urge you not to follow mine.
I'm not bold enough to short. I just hodl.
If you attempt to do it, and then make decisions based on emotion failure to come out ahead is almost guaranteed. Me personally - I'm still riding the tail end of the euphoria from coming out of the bloodbath ahead.
great advice. stop refreshing coinmarketcap as well. if you don't need the money now, just hold. And that braveheart hodl pic never gets old :-)
If there is blood there is killing to be made, opportunities for money to grow. Red is money for Chinese. Red is prosperity it is the reason why we celebrate new year with red. That is why we invest if the market is red. Sell if the market is green.
Red means "sale!"
No we buy and buy more. We don't buy in green we sell. red is low and green is high. We create volume when market are red.
That's what I mean: "Sale" not "sell". Treat it as if the coins are on sale and buy, buy, buy!
Yes market are on sale hehehehe
Every sell is also a buy, and vice versa..
Yea feels ugly in the moment but when the total market cap of crypto goes from 20B to 110B in 6 months, a 30 - 60% pullback is completely healthy and reasonable and still leaves us within the context of a long term uptrend.
My strategy is to pay attention to relative strength and watch what cryptos hold up best.
which ones are those?
you should keep an eye on the top 10 coinmarketcap coins if you ask me
Yup, turn it off an walk away from the computer. I can't do it because of my business but I wish I could.
I've kept it off most of the week. Turning it on to snap that screenshot of my chart for this article was the first time I've opened it in days.
HODL HODL... I wish I had the funds to invest more but this is not the case so my only strategy is HODL at the moment.
HODL as there's no choice for me or be swimming in blood...
You won't bleed if you don't sell. The market will correct in our favour soon enough.
Thanks, that's what I'm hoping it will :) And I think it will :)
The battleground meme is hilarious. Great Post btw.
Thanks! Yea, someone posted it as a video in the Cryptocurrency Club on Facebook. I don't know the original source.
There are always two sides to a coin, people are complaining about the side that is downward without seeing the other side that is upward, This is the best time to buy/invest more on STEEM because its affordable now!
Don't think of it as a loss, think of it as a sale!
i agree, HODL for life!