🚨🚨CRYPTO MARKET VOLATILITY:🚨🚨
A SEASONED INVESTOR'S ADVICE ⚠️ 💥
Fear in the market is understandable. It's tough to see your portfolio drop by 30% over three months (for spot traders) or face liquidation in a few hours (for futures traders). As someone who started investing in crypto in 2016, I've gathered a few key insights:
-- HOLD ON TIGHT:
When the market dips, resist the urge to adjust your portfolio. Holding on is crucial, as selling at a loss locks in those losses. Remember, in spot trading, losses are only realized when you sell.
-- AVOID THE HERD MENTALITY:
Expert opinions are often speculative. No one can predict market movements with certainty. The market's downturn won't last forever, so don't let external opinions drive your decisions.
Ultimately, the choice to hold your portfolio is yours. Patience and emotional control are vital. While not everyone will succeed, those with a strong mindset have a better chance. And importantly, take profits when the market is up – that capital will be valuable during tough times.
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