The Dip : You Don't Lose, If You Don't Sell
The current dip in price of Cryptocurrencies might have actually be the talk of the town and as some are actually taking their mind off it,some are still finding it hard to ignore the situation as they are waking up to see how bad their wallet keeps on looking in terms of price of coins they have been holding for a period of time is going down. In the last 24 hours the price of some many coins as reduced, even after having a slight increase on Bitcoin some days ago,it is not really promising at all as the price just keeps on going down again.
Bitcoin as the biggest of all coins right now is coming down from $20k which he managed to enter some days ago after suffering is biggest low of getting down to as low as $16k at a point last week. This is not really good at all as it as affected other coins and also putting my investor's on the line of having a rethink on what to do with the coins they are holding at this period, honestly the recent dip as indeed bring in lot of fear and panic and many are actually thinking of selling off , cause it is really getting to a stage in which the Dip is even getting Dipper.
what you need to know
Putting your resources in crypto is actually very risky, most especially in times like this, cause having a very long dip like this can definitely lead to losing all that you have invested too and this at times is what to push many to start selling at loss,but of a truth the best thing at this period is to hold on to whatever coin you are holding, cause selling at loss will rather add more to the pain of losing at the end too.
It is very important and vital that we all know that selling at loss is not the way out at this present time, just as many also thinks that selling right now is better just to cub the level of loss that will comes in incase the dip keeps on going dipper too,but over the year have sincerely understand that holding and buying more at this present period is the best perquisite to the dip .
No one will ever be happy waking up and seeing how it portfolio is going down greatly everyday, but on an honest note at this period, holding firm to that which you have in your wallet is definitely the best thing to do and I will say chosing to sell off to avoid further loss as some may think is not really the way out as this stage right now is definitely part of the process that happens in the crypto market.
Why not look at other alternative, like your stable coin in case you are holding one and I will be glad to say this is definitely the best time to acquire more now with that, as you can use your stable coins to buy some of this coins that as gone down in terms of market value at a very discounted rate due to the dip
Even with coin like Hive at 38 cent right now and other coins too struggling to survive due to the dip, this is definitely the time to convert some of your stable coins in order to get those coins at large, cause once this pass,it might definitely turn out to be a recording breaking bull run again and that will definitely makes holding a very good one .
Bottom line
Instead of panicking and creating all sort of fear In your mind due to the recent daily dip, think of a better alternative to get the best out of this situation, selling off at this present moment is another level of loss that will add to the previous loss too, so buy more and hold.
Posted Using LeoFinance Beta
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Posted Using LeoFinance Beta