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Setting a stop loss is always a must when trading. It is your safest route to save your funds with huge lost or minimize the risk specially if the market is super unstable. I also shaking my head seeing the longest bearish days in my entire trading. I also lost so much because my portfolio went down for over -50% of my original investment. What i am doing now is to multiplying the number of my altcoin i am holding to atleast maximizing my ROI when the right time comes.
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That actually is a good idea to spread to people on how they can hunt an internet gold through bounties and airdrops. The main question is how knowledgable they are about cryptocurrency? We know to ourselves that there are so many things to learn in crypto and different tools to use before they convert the reward to a fiat money. For me, it would be nice if you started educating those person first on those tools to use. Try start teaching a group of 5 to 10 person so that you will have your assistants to spread the good news with crypto.
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The value of cryptocurrency changes from time to time depending of investors approach and reaction with the market or even in the news. It is an online money and a type of investment where you manage it by means of trading or holding (driven by traders or investors). Why do you think gold is increasing its value? The answer is because there are customers who wants to grab it. That also same with cryptocurrency price.
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i totally agree and this time happens one in a million when BTC touching $6000 price. This is a great opportunity for each investors to grab it at its lowest. Anytime soon, BTC will rise and im pretty sure that there are millions out there who are very bullish to grab it. If you think you are loosing your funds because the value is getting lower, think again. This is the perfect time to buy back BTC for a secured profit. Holding bitcoin will bring you unexpected fortune.
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I might say that those panic sellers are have very traumatic experience with last year's market reaction or when BTC almost hit $20,000. Then it went down to $6,000 this year and now, it seems that it will experience an all time low. Imagine how those altcoins went down the price in exaggerated way. Im pretty sure that almost 70% of crypto investors lose so much money and they don't wanted to experience the same way. What happening right now is a vice versa of last year crypto hype.
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As always, do your own research every time you do your own trades or even investing to an altcoin. The only person you can trust is yourself and the most secured way to protect your funds to scammers is to be knowledgable in crypto world. This forum is super helpful specially to those who wanted to be enlighten on decision making. Most of the members here are willing to share an accurate information about cryptocurrency and always giving a reliable opinion base on their experience. Never stop learning my friend.
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That is pretty normal because a correction always occur weekly. When the price of every cryptocurrency drops down for over -20%, a panic selling occurs while those who wanted to grab those at its lowest price are hiding in the dark to take a profit securely. The chart always goes up and down. It also depends on the investors approach and reaction with the market. Even a twisted news affects the price of an altcoin where a FUD will be created. If you are doing business in cryptocurrency for over a year, what happening right now is pretty normal.
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You are not alone mate. My portfolio already in -60% which really is a pain mentally and emotionally. There are too much regret not selling those altcoins when they are just listed to an exchange platform and went up a price for 5 to 10 times. Lesson learned i guess and everything happens for a reason. You will not become a successful trader if you don't experience those exaggerated falls in trading or even when holding. Just keep those experience in mind and learn to discipline your self when to sell those for a profit and setting a stop loss point.
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Everyone is on panic selling when they saw their altcoins drop down the price to 10% or up 20% higher. When you set a your stop loss, that's the time you sell it and buy those back lower than the sell price. As a trader, that is one of the most effective way to multiply your investment. It's either you multiply it by number of altcoins or by selling those on your target value. Both ways, you can save your investment from a huge lost or minimize the risk. That strategy also affects the price of an altcoin. A panic selling by others is a great entry point for a smart trader.
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