Madness around the Crypto Market Correction
According to Forbes, if you have only recently invested your fortune in the blockchain universe, then the recession is not a very pleasant sight and probably very deplorable for some. There are a lot of newcomers in the world of cryptocurrencies now, and for them we will try to explain how not to move their brains even when the cryptocurrency fever is at its peak, and the adjustment is devouring more and more of the value of crypto assets.
And since we don’t want our new readers from among the newcomers who came to the crypto industry with a dream of early retirement to send themselves and their family members to a mental hospital, then let’s get started.
The crypto market, like any other financial market, has its own cycles of upward movement. No market can show only constant growing. For a long ascent of the cost, an adjustment will necessarily follow.
Exactly what is currently being observed in the crypto market is such a correction. According to Coinmarketrate.com, On December 3, the PTS, which is at the level of more than $ 54,300. made a rollback (not a fall or collapse), which stopped at the level of December 4 at $42,874. USA. The pullback erased 20% of the asset capitalization. But this is not a reason for hysteria!
Now the market needs time to consolidate and reshuffle forces. What should an investor do? Well, he should have joined the tight ranks of the Hodlers before all this. If you are a new person in the crypto space, then we will explain to you in detail.
HODL, and what it is about
HODL is a term that originally originated as a typo. This happened in 2013. In November 2013, the BTC grew more than 5 times. December followed, and the exchange rate fell by almost half, compared to the then ATH.
It was then that one of the participants of the bitcointalk discussion forum drank whiskey out of grief (the story is really silent about the amount of alcohol consumed), and wrote the post that became legendary. The headline read: “I AM HODLING”. People liked this typo, and it quickly caught on in the crypto community as a synonym for long-term storage of Bitcoin, regardless of where its quotes are located.
Over time, it became a full-scale movement. Hodlers do not sell, do not panic, do not suffer losses, and do not lose their composure. In the long run, no hodler ever suffers losses, while trading actually forces most people to stay with nothing. There is little talk about this, but it is, unfortunately, true. No amount of paid signals and membership groups, as a rule, will not save you from losses.
Any hodler will tell you that it is better to take the funds that you want to spend on paid groups, invest them in Bitcoin and do not sell, no matter what. Most likely, you would have lost that money anyway – you don’t lose anything here. In 2013, when the word HODL was first used, the BTC cost less than $600.
Think about the long term. Despite the fact that we watch the news every day, watching how people lose their minds from every minor change in quotes and try to outbid at a bargain price, we must remember that it almost does not matter whether the cost of the Cue Ball today is 54k, 42k or even 65k.
Today, the bitcoin exchange rate can reach up to $60,000, it can reach up to 40,000, or maybe up to 30,000. You might as well go back to 5 in January, or even create a new LOW. Short-term investors will panic and dump at a loss. Hodlers may be overbought, but they definitely won’t panic.
Let’s try to look at it this way: if the crypto market reaches the valuation we set as a goal, we will be there. Of course, it will be good if it happens within 1 or 2 months, but if we have to wait 3 or 5 years, will we wait? Yes, we will wait, and nothing more!
Just lie down and relax
The basis of any successful therapy is not only humor, but also honest and conscientious lying on the couch. So come on, start following this wise advice. Since we advise you to think sensibly, lean back on the sofa properly, as you would do in any other situation.
While you are there, enjoy your vacation, you can earn money on the crypt, even if you are not a hodler yet. You can just buy a “failure”, because there may not be another chance to buy a military hardware at this price. But then you will definitely have a firm conviction that you are all right with mental health, and you will enjoy this money and lying down. Well, no stress!
No recession looks so terrible as when you look at it from the outside and objectively consider it in the context of long-term price trends. This will help you not to go crazy because of a major rollback of the crypt. A long-term schedule will also help you not succumb to the illusion of eternal growth. As already mentioned, nothing grows forever! If the price has increased by 100% today, it does not mean that it will grow by 100% tomorrow, let alone for a whole week…
Well, maybe this is not the most valuable advice, but the simplest. Zoom in on all the charts and figures that show the exchange rate of the coin and other cryptocurrencies. Turn off notifications. A twenty percent drop may visually look like the worst day of your life, but if you zoom out of the graph, you’ll see that we’re not all that scary. Everything is known in comparison.
Don’t blow out the candles
Let the price float a little, and you won’t have to watch it 100 times a day and several times a night. If we wanted to buy stocks, bonds or a piece of gold, you wouldn’t be chasing candle charts from morning to night in search of the perfect bottoms to buy and dump at the tops. Why should it be different with Bitcoin? We are hodlers, and we are here because we trust Bitcoin, well, and some other cryptocurrencies in the long term.
This is the most important advice for your sound sleep. Get yourself a good wallet, best of all a SpaceBot, and send your precious coins there for staking. Staking income in any fluctuations is your safe haven. But we will talk about this separately.
Don’t trust rubbish
Do not try to look for the next signal for Bitcoin at the very beginning of the correction. Of course, it won’t be able to regain his position in a short time, until the last ATH. Do not listen to what your neighbor Vasya tells you, or a dubious source from a social network.
You’d better sleep soundly, not tormenting yourself with guesses. You are already voluntarily in this wild crypto space, so why else participate in a fly-eating contest? In other words, be patient, and don’t do nonsense. Everything will get better.
You’re not in a worse position
And now remember one simple truth: did you really think you got into a fairy tale,
when entering the crypto space? Remember – there are always those who may be worse off!
Whatever happens to you in cryptocurrency, worse things have happened to someone, something worse. Have you lost a BTC? This is an incredible tragedy, but remember the man who was robbed of eight thousand BTC. Did you sell ten BTC when one was worth a thousand dollars? Yes, they will show you people who sold them by the thousands when they cost a dollar apiece.
We understand that perhaps you thought you had discovered a source of infinite wealth by entering the crypto market this year. Perhaps you have already calculated your income on your calculator, and announced to all your relatives, even calling Aunt Nyura and Uncle Kolya from Kazan, that in a few months you will solve all the economic problems of the Russian Federation, and for one the problem of poverty in the world, hunger in Africa, and so on. Everything looked so rosy… until Bitcoin fell.
In conclusion, I would like to say – do not despair! Remember that you already have something to be proud of: you can be happy that you tried a new technology at the very beginning. These are blockchain and cryptocurrencies.
Perhaps you have more Cue Balls than 99% of the people in your city, and although they may lose most of their dollar value tomorrow, you know that this should be the case to compensate for the possibility of high growth.
Now you know that if you don’t want to go crazy, take a deep breath. You need to be smart, remember the exact exchange rate, or something like that. The most important thing is that you should be a calm and reasonable hodler. After all, peace in your family will depend on your inner peace. The market will recover, the main thing is not to be nervous.