Why one must not panic when crypto prices are going down
We have seen the prices of cryptocurrencies going down quite steeply in the last week. However, according to my experience, there is nothing to fear, as the prices do always rebound eventually.
Assuming that you entered the crypto world when the prices were still relatively low, what you could do is to short trade some of your coins. Initially, I used to hodl all of my coins and never trade them. However, I have seen the prices swing many times. I mean how many times have you seen the price of Bitcoin passing $9000, and then coming back to nearly $7000 like now?
Now, if you are just hodling, you would be denying yourself a chance to increase the amount of your coins. What you should be doing instead is to sell some of your coins when the price is high and buy back when price is low. The best practice would be to hodl most of your coins and trade with some of them, like with a 80% to 20% ratio maybe.
What I have been doing recently is to sell my coins at every little increase in price, and then buying them back as the prices go down. While doing that, I make sure, I always buy back at a lower price than at which I sold. In this way, you can keep increasing the amount of your coins. For this, sometimes you have to wait for a long time. For example, at one point, I sold some of my BTCs when its price was around 6,600 euros. Only few days ago, the price of BTC went below that, allowing me to buy it back.
Crypto markets continues to suffer with falling prices as bitcoin, Ethereum and Ripple all took massive price drops. But it is hoped well crypto market and specially bitcoin will recover after such dramatic falls very soon.
Yes, it has always recovered before, and so will this time :)
I strongely agreed with your tips and tricks. This is the only way to increase our crypto assets :).
Thanks buddy @hmushtaq.
But what about when the prices really start to surge again?
When do you jump back in if you've just sold?
Yes, that is why I said, hodl most of your coins, like 80% of your coins maybe, and do trading only with the rest 20%.
I agree... when the price is down its a good time to concentrate on accumulating more. I use the Quickfingers Luc method to find "safe" buy areas.
Yeah, I used this strategy to increase my ripple count from 125 to 198
Just short term trading, buy low and sell high...simple..
Hodl 70-80% and risk the rest in short term trade...
Good job :)
That's a really nice trick. Buying cryptocurrency when the price is down and selling them when the price is up. By this technique one can earn some and never worry about the current price of cryptocurrency.
nice strategy good info
Release the Kraken! You got a 11.97% upvote from @seakraken courtesy of @hmushtaq!