Do you want to survive long enough to see the bull run in the crypto market? Do these
- Cryptocurrency is a risky cynical token that has extreme ups and downs. During the bull run in 2020 and 2021, it was not a surprising event to say that the value of cryptocurrency is growing by double digits overnight.
- Web3 investor Tyler Reynolds states: “Do not risk your lifestyle because of a HODL meme. No one went broke and made a profit. “
- ‘Do not take advice from anyone while investing; go according to data. ‘
Miss the good old days
Ok, be honest. You all miss 2020 and 2021, right?
What?
No, I’m not talking about the covid area. I’m talking about the crypto market. Do you remember those days? A few months ago, not a very distant past, a significant percentage of the population bought cryptocurrencies and earned huge profits.
But that’s not a very new thing for the early crypto adopters, is it?
For this is something they have all witnessed before. Cryptocurrency is not like a regular coin that stays stable every day,
It is a risky cynical symbol that has extreme ups and downs. During the bull run in 2020 and 2021, it was not a surprising event to say that the value of cryptocurrency is growing by double digits overnight.
On the other hand, it was also common to see the prices of some coins fall by 90% in just a single day.
But trust me, there are some tips for you if you want to survive in the bear markets, or as we like to call them, the restored markets.
READ ALSO – Argentina’s resignation increased the prices of Stablecoins
In this world of internet and memes, we are heading towards extreme corners of philosophy; either we can completely love or hate someone. Therefore, we are either completely positive about the HODL ideology or completely against it.
Wise advice would be to be a mix of both, somewhere in between.
HOLD refers to the thought process of buying some coins for a lifetime and keeping it forever.
Web3 investor Tyler Reynolds says: “Do not risk your lifestyle because of a HODL meme. No one went broke and made a profit. “
So, to be sure, it is a good idea to set a minimum bar below which you will not hesitate to sell your cryptocurrency.
You can tell yourself, “I want to sell all my currencies below the price of $ X.”
“Avoid panic selling unless you have an urgent need for money,” said Fedor Linnik, developer of several NFT (non-fungible token) projects. And in retrospect, he said, “being greedy and being afraid of missing the top” was a mistake he made in 2018.
This includes the statement: ‘Do not take advice from anyone while investing; go according to data. ‘
“Aping” is an everyday activity in crypto. It refers to investing in project symbols without much due diligence, simply because the tokens are new and shiny and may soon increase in value.
Do not build your life around crypto.
Remember that it is only an investment for you. Play with your kids, watch Netflix and read romance, action and mystery books.
Remember to be a person who enjoys his life and invests smartly and not a person who lives by the numbers in the stock market.
Relax dude! You only live once.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while graduating. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge of blockchain helps him provide a unique perspective to his writing
