It’s a …
That’s right! It is time to sell everything. The end of bitcoin.
Ok, not exactly.
Some are calling the past couple of weeks a crypto traders biggest nightmare. Others a crypto bloodbath. And hey, if the bear market could speak, it might have said the same thing.
So what is going on with the market and how can one benefit from the Crypto Tsunami?
Just like any tsunami it pummels the beach and as it makes land fall it takes out as much as it can along its destructive path. And this is exactly what the market has done over the past month.
Now amateurs, you probably saw this Tsunami and watched anxiously as the tide rolled in. And you probably said to yourself. I will just hold off selling in hopes the Tsunami will fizzle out or change directions instantaneously. Then you probably caught yourself watching the destruction while hovering your finger next to the sell order. Only to watch the market crash further and further downward. Perhaps you should have sold. However, you never know, it could have turned any moment and the market would start to build right back up to new heights. Just like it has done many times in the past year. Now once you realized that it may not go your way . Did you decide that all the doom and gloom news feeds and nightly news experts might not have been wrong about the Tsunami coming? Deciding if these so called experts may be right about cryptos being little more then a ponzi scheme or the dot com crash all over again. Did you begin to feel the pressure to let go of all things crypto?
So you began mentally saying.Sell everything !!! That is right it’s time to sell everything. It’s end of bitcoin.
The market is doomed mentality will not solve any of your crypto currency woes.
Now if you read my last article you would know this market is not one you should take lightly. It is in fact different then the stock market. It has its fluctuations in part due to gambling and speculative trading. To top that off It is also dealing with stronger regulations and the cracking down of exchanges that aren’t regulated.
So what is an amateur to do in such a volotile market.
Think like a traditional investor.
Traditional investors took out their bets on the market to capitalize on the downward trend line. The question we must ask is did you? These trained investors don’t pull out of the storm. They are calculated risk takers. And you should be to. Let’s face it, day traders have long known the tsunami was coming. They may not have know when. But they read the signs. They are not only watching the news just like you are, but they are also watching how everyone is reacting to the waves.
This wave was massive, yet, chances are it’s not the last you will see.+
This wave may have led you to believe all the hard work you put into learning about cryptos was for nothing.
But just look back and remember how you got involved in cryptos in the first place. Perhaps it was your belief that you could possibly change your stars. Or maybe you saw a world where you can be your own bank. Perhaps you believed that cryptos could one day be used to make transactions easier and cheaper. And if one were to invest early enough it would make someone the next self made crypto millionaire.
The truth is, there are many others who are involved in this space just like you and may even be in it for the exact same reasons. Remember they also to take the time to find secure wallets and secure exchanges. They to had to identify who they were and have to now deal with new taxation requirements. Those same individuals aren’t giving up on this just yet.
So literally wait for the coast to clear and get back out there and invest. Another wave will be coming soon. When the next one comes you will have been better prepared.
In the meantime look at coins that serve a purpose. Litecoin (LTC) for one is a good example. It’s processing speed is fast and transaction costs are lower then bitcoin. This is a real problem solver for cryptos in general and has been for sometime now.
Many see this coin as a big benefit. Especially moving from one exchange to another.
In the long run saving money is just as good as making money. And Litecoin does this well for now. LTC is also poised to make some gains as the Tsunami recedes.
Of course we can see there are issues with all cryptos and their parent companies. So be mindful. Look at the asset and do your homework. Would you use the coin personally and sell it to others.
Now is the time to get out there and buy or to get out of the way. Because whether we like it or not the next wave is coming.
Are you ready for it?