Survive the Bitcoin crash
Survive the Bitcoin crash
the thought of surviving the crisis comes to mind along with the people who are emotionally attached to their stock and don't want to sell or are even fanatical how can we over come the crisis on top or with minimal loses.
you can sell what you have now and cut your loses
your can try to ride a pump and dump to get your money back if you know how to time it
you can sell off a bunch and consider a hedge in perhaps a precious metal considering that is what people normally do if there is a stock market crash on the horizon
People don't remember when stock markets crash and they do crash. it happens. think back to just a few years ago when things where in the dumps and people were losing jobs and major manufacturing companies moved to places where they can do things for cheap to avoid shutting down.
there is a trend supporting the fact that it will come crashing down, sure maybe there will be a possibility of it going on the upstroke again but how long will it take and how long would it take with all the threats from government's of banning before a. it gets banned or b. they step in and regulate it as if it was a normal stock or currency. Bitcoin is a beautiful thing and I think its great for people like us to get out there and make some money and have fun doing what we love...making money...but in a time of crisis like this the options can be grim and perhaps we don't want to really think about the true negative downside to being over committed or emotionally attached to something.
is this just a growing pain like CEO of a digital currency said or is it the end of bitcoin about 60 percent of people in Bitcoin dismiss the fact that this could be the "buble burster" when we really think about it though this is because it is currently under the microscope by many institutions and is currently banned in more than 1 place. The ceo's jobs and executives of bitcoin have a job to do and that is to keep people involved and to keep people buying, without buyers they have nothing to go on and no more money.
so to survive the "bear country" here are some useful tips
1. investors should always try to separate their emotions from their investment decision-making process. What is a massive global market catastrophe one day "could" be remembered as a blip on the radar.
2. one thing to remember during an economic slowdown is that it can be normal for the market to have negative months and even years! 1 advantage you could have is to take advantage of dollar-cost averaging (DCA). by purchasing bitcoins no matter what the price, you end up buying shares at a low when things are down however there is a chance that particular investment could despair but you ccccooouuullllld have a nice entry price.
3. Pretend your dead meaning play dead. during a bear market, the bears rule and the bulls don't stand a chance! that is an old saying meaning the best thing to do during a bear market is to play dead. its the same protocol as if you met a real grizzly in the woods. fighting back would not only be dangerous but not a good idea right!!!!
4. diversification, perhaps selling some of your bitcoin and putting the money else's where and how you slice up your portfolio is up to you and your tolerance of risk. everyone's situation is different and allocation strategy will allow you to avoid the dangers of negative effects from putting all of your eggs in one basket.
5. only invest what you can afford to loose. remember the bear rule!! bear markets and minor corrections can be very very destructive.
6. look for a value stock. bear markets can provide great opportunities for a savvy investor. the trick is to know what you are looking for. beaten up battered and underpriced: these are all descriptions of stocks during a bear market.
7. make an informed decision and make sure its something you feel right with and have no commitments to.
Best of luck to you all and hope this turns around and the best possible outcome goes your way during the times of the bear!
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