With the recent crypto market crash everyone is wondering what to do. Obviously this decision has to be a personal one.
If you look back at the history of the markets. This kind of crash happens most years at this time because of the Chinese New Year. This year is extra special because we have Bitcoin futures ending,and tons of new investors in crypto. I believe most people that have jumped into crypto these last few months were just “get rich quick” people. I say in all my posts if you don’t understand the tech of crypto currency then you shouldn’t be spending your money on it. When people do that this is what happens to the market because they don’t understand it when it drops they freak out and sell at a loss.
So what I’m doing is HODLing strong. Actually I’m buying right now. This is a great time to cost average your way back into the market. Cost averaging is buying into a coin, stock, etc by buying in at different price points in case the price drops. This buying technique to minimize your risk.
So I’d encourage everyone to stay strong, don’t freak out and sell at a loss. Educate yourself on what the cryptos are really all about before putting your hard earned money into them. Buy coins that you like what they are about and represent not just ones people from Youtube tell you to buy.