I like to get to the point in my posts, I know that my readers time is limited, and if you got this far its because your looking for an answer... options.
Options to what ever it is that your thinking now, which considering the past few days, probably isn't too good unless you have a crystal ball, or , GOOD INVESTOR DISCIPLINE.
The short answer is that NOTHING is wrong with the crypto market, per se. It's doing exactly what markets do, go up in value and profitability then go down. That's a fundamental which must be accounted for in any investment strategy.
Therefore, for those who prepared for this day, nothing is particularly wrong with the market, with the exception that there are several problems afflicting the global economy which affects, this market, and so in that since there are alot of problems.
Chaos even in a market with so much potential profit is the environment in which all of our investment approaches should factor in.
In times like this a person should have set stop losses on their accounts. Limits at which you initiate a sale in the event prices go too low, and also keep in mind that in the current environment cryptocurrency is not easily made liquid.
If your investing for the long haul the best thing to do is ... look away for a while. Too much attention to a volatile market can result in moving into even more volatility.
However if your strategy has gotten you to a rock bottom point where you have already lost most of your profit and part of your principle, maybe its time to go liquid for a while, ride out the volatility and then re invest once the bottom comes.
Its still not there. As stocks continue to fall on Wall Street even the most established cyrptos are having a hard time weathering the storm, but they will.
Why? The underlying Blockchain technology on which they are all built, isn't likely to go anywhere anytime soon, and is only growing as an industry with each day.
Stay focused outline your priorities, and however you weather the storm, don't bend to the pressure, adapt to the change.
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