You've probably already seen the term "red days are good days" or something like "when I see blood, I buy" somewhere here on Hive. And if you haven't, what Hive rock are you living under? Or a cryptocurrency rock in general. It's no secret that almost all cryptocurrencies are bleeding right now. Well, probably not Doge, I heard that thing is doing weird stuff. But that's beside the point. To those of you that are new to crypto and where super-excited about all your gains up till now, this red massacre might seem scary. But on the contrary. It's actually the perfect opportunity to buy some more crypto.
If you have the funds to do so it's always a good idea to invest a bit more out of pocket during a price retraction. The trick is to buy small amounts each time, instead of trying to predict the bottom. That's what we call dollar cost averaging, which ensures that you have a good average buying price and is a no-brainer way of accumulating more crypto without all the stress. If extra funds are scarce, let this be a lesson then to sell a bit on green days and keep that in stable coins. Those stable coins can then be used to accumulate during red days. Rinse and repeat.
Nerves of steel, no emotions and most of all patience will get you miles ahead of the rest. :)
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