The Most Important Crypto Investment Article You’ll Ever Read.
Hold on to your hats folks we are in for a wild ride! As you all know by now, as of July, 2022 the crypto markets have taken a torpedo dive into the great abyss. Well it’s not that bad, but there are signs of more upcoming market volatility. The sharp fall in cryptocurrency will likely lead to a bunch of hasty decisions by some coin traders. I don’t mean the seasoned guys. They’ll be fine. It’s the new coin market traders who will most likely be in a panic. New Crypto Traders will be looking to save their assets as they watch their investment drop.
There are a few important tips that will help ease the stress of trading in a volatile crypto marketplace at the end.
How can you not completely panic when you’re on the bubble. What does it mean to be on the bubble? Being on the bubble in this case means you’ve invested just enough money to get into trouble. You don’t have enough investment power to stay afloat during a down turn in the market, like the one happening now. You’re out there alone with no safety net and no one there to help. Being on the bubble is a terrifying place to be and will almost assure you’ll make the wrong moves in the crypto market. Trading crypto or any other currency is a game of patients, which most new digital money investors cannot afford.
It is very likely that we are going to see much more volatility in the crypto markets. With the 2024 presidential election being such a important event, and surely another new virus scare coming, many people are losing their focus. Information overload is causing people to make forced decisions they would otherwise forgo. And now on top of all the issues in your life you have to worry about losing your Bitcoin or other digital money. I know, it’s not fair, but this is the reality we live in at this moment. Not everyone is going to come out of these market down turns with full pockets. Matter of fact most new traders pockets will be completely empty.
Who knows, maybe I’m wrong and the crypto markets will rise like a phoenix from the flames and everyone will be rich. That’s a bit far fetched, but sensible traders will know when to hold and why. Other crypto traders will make their decision based upon fear of losing, and sell at the wrong time or hold to long. Which type of crypto market trader will you be? These next few months and years are going to be a learning experience for us all. Big changes are happening and everyone is being affected by these changing times.
There is always a silver lining to every negative situation. Make your choices with hope in your heart, and knowledge under your belt. Look for the best solutions that fit your current situation so that you can come out of this a winner. Do your best to exit from fearful thinking and trade with confidence and clarity. Pay very close attention to the trends in the market from the largest coin to the smallest. Don’t watch your favorite coins believing this is the entire market picture. We can learn a great deal from the actions of the smaller coins as well.
Knowledge is power but it isn’t everything. What I mean here is, gain as much education about the crypto markets movement as possible. But don’t rely wholly on that knowledge. Sometimes a feeling can direct you down a winning path. I know this may sound like a contradiction when compared to my previous statements, but it’s not. Some of the best money traders who’s ever played the game did so based on a feeling or hunch. Call it intuition, luck, or whatever, people have made lots of money this way. But don’t get this confused with trading without knowledge, fear trading, or trading with negative emotions. There is nothing lucky about trading crypto when you don’t possess the right mindset.
Here are a few ideas to keep in mind as you make moves to build your crypto portfolio.
1) People who successfully trade based upon a feeling do not make moves based in negative emotion.
2) Begin from a positive psychology despite your current perception of world events.
3) Develop a winning attitude about the currency you are trading.
4) Believe that every trade you make is a winner.
5) Leave the losing trades to those unwilling to cultivate a winners mindset.
6) Gain the knowledge necessary to trade with confidence and skill.
7) Keep in mind that crypto is likely going to be the number one wealth advantage you’ll have in the future, so trade wisely now.
8) Those who take part in a winning mindset win often.
9) When the crypto markets dip have faith in yourself that you’ve made the right moves and do not falter. Meaning don’t sell in a panic, Ever.
10) Money is not Real so play with it, but remember it’s all just a game anyway. Playing with money doesn’t mean throwing it away as if it’s not tradable for stuff you want. Your psychology about your trades will determine whether you’ll rise or fall with the market. I don’t have to tell you what the other side of the coin yields. You’ve already put two and two together to come up with the logical answer.
by: Michaelson Williams, TSX