How To Act For Your Own Benefit When Bitcoin and Altcoins Are Crashing
(Source: cointelegraph)
I wanted to make this post about how you should act in case Bitcoin goes down or even sink at the $4000 levels and as well as in case an Altcoin goes down significantly.
Dealing with emotions
An important thing to mention here is that the crypto space is THE MOST volatile market in existence and it's definitely not a place for the weak. And what I mean by this is that if you would like to invest into crypto, or if you already invested in it you should, as for any risky investment, you should keep your emotions out of the process, also a safe way would be to not allocate in crypto more than 20% out of your total savings, or at least invest an amount that you feel comfortable with.
The Right Mindset
Checking coinmarketcap 40 times a day will not make you a millionaire. When you see the prices bleed out it's totally depressing indeed. But having the right mindset in these kind of situations is the key!
“Fearful when others are greedy and greedy when others are fearful.”
Relax.......... and remember you're in this for the long term as an INVESTOR. Blockchain is still a very new technology and you're one of the early investors in it, congrats! Therefore, relaxing and holding to your cryptocurrency is always a good idea, you should NEVER panic sell and you have to look at it as a long term investment, think about where would crypto be in 2 years or in 4 years. In order to give you a better image about what I mean by this, just have a look at the cryptos 2 years ago or 4 years ago, you can see that in the long run the market went up significantly.
Always remember
To sum up John McAfee's twitter post, keep calm and carry on!
If you already made an investment in cryptocurrency, then it's time to focus on your real life, focus on your current plans and personal projects, secure your future create value for yourself and for the others, stay positive as positive thinking offers you a clear mind which you need to make beneficial decisions in order to secure your present and future.
Ultimately, stay cheerful and happy! You're awesome!
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