Don't let greed get in the way of you making reasonable gains.
With red across the board at the moment and alt coins continuing to drop, a lot of peoples investments may be losing money. For day traders, playing the ups and downs of a crash can be profitable, however you may have better chances taking your money down to a roulette table. There are only small windows of opportunity to make your money and often you may be stuck holding a bag of dropping alt coin if they don't make your target sell price before inevitable sell out. Sometimes the stress just isn't worth the reward.
I feel the safest way to minimize damages is to take your BTC off the exchanges and hold in a hardware wallet until things start to look green again. emerge yourself in a hobby, travel, live life for a bit. In my experience it feels a lot better to miss out on making money, than it does to lose your money. If coins continue to drop, you can buy cheaper and if they rise and you buy back in you still technically have the same value of coins.
Should I be worried?
Since the beginning of investing this is how markets have worked with such huge gains (and recent gains for some coins were astronomic) Fall-backs are inevitable. If coins just continued to gain value indefinitely with no risk then every second car on the road would be a McLaren. However if you are going to get to your financial goals investing in cryptocurrency, don't be greedy. Be happy when you make the gains you do, and have a fairly good sense that when you enter the market its at a price that most likely has to climb back up. NEVER BUY INTO HYPE. buy when no one wants a coin. Most importantly If you truly believe in the future of cryptocurrency, don't stress it. look at what happened a few months ago after there was a big crash like this, I was able to buy a large amount of STRAT when it was back down to $2.50, a month later I sold at 11 dollars. This dip could possibly be the entry point large investors were looking for, and could flood more money into the markets then ever.
No one can know the future for sure (other wise I would have bought a ton of shares in Facebook when it started) but what we can do is predict with trends. After all, you can't know your future without knowing your past. This has happened in the past and every time it has, it was followed by a giant boom and a raised floor on the charts.
Be Smart, Know your $#*! be happy with the opportunity's you do come across and don't worry about the ones you didn't.
Thanks for reading
Barry F Samways
