This week marked another “Bloodbath” in the crypto space as I was finishing my latest article. As this happened, I had to stop and write this piece because I thought it was necessary. If you are new to the crypto space, you could panic. Now I can’t tell you how to feel, but know I was like you years ago, and I’m human (I think), so it’s pretty normal to sell off or don’t know what to do. However, I will give you some tips on why not to worry. Again, this is not financial advice, and again as humans, we will feel some way all the time.
Crypto is Volatile.
Just think that 11 years ago, Bitcoin was worth 0, and now it’s worth thousands of dollars. Just like any currency or commodity, it will fluctuate and go up and down. Because of the nature of bitcoin (read the whitepaper), the volatility will be constant sometimes; it will go on wild or mild depending on the days.
It’s a very young market.
Think about this the stock market has been around for more than 200 years, and it has had its fair amount of crashes. So expect this to happen on the crypto market over and over again for years to come. If you are in it for the short run, you will get into a lot of trouble, but you will probably end up fine if you are in it for the long run.
Everything is a cycle.
The old saying going “Everything that goes up must come down,” and vice-versa. This is part of the markets; no matter what you are investing in, it’s not going to be up all the time. So I will always recommend having some plan and following the cycles not to lose money. This does not mean that you won’t, but it is a safer way to do this.
Again things may not seem great right now, but with everything, this could be an opportunity or a learning experience; whatever you do, just make sure that you are in peace with the decision that you are taking and hopefully you are putting money that you are were willing to lose.
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