Plenty of people will tell you stocks are risky when really the risk lies in cryptocurrency. You can put $1,000 into an altcoin or a lesser-known coin than Bitcoin or Ethereum and watch your money quickly disintegrate.
Investing in crypto isn’t for everyone. It’s for the long-term holders who can power through the toughest of storms — especially the current bear market.
Crypto is cyclical which means that it has cycles of euphoric uptrends and heart-stopping dips. If you want to perform well and not get shaken out of your positions, keep reading on.
Your investments can’t always be going up.
There will be days, months, and even years when your investments stagnate. It sucks watching your money do nothing, but the possibility of it 10x’ing is satisfying.
Whenever I look at my Coinbase, Trust Wallet, or Crypto.com, I don’t care. I risked nearly $5,000 of my hard-earned money to pay me back later at a much higher scale.
It’s not realistic for “stonks” to always go up the same way it’s not realistic for crypto to always go up. Everything needs a pullback from time to time. People are going to take profits when they can.
But you can be one of the long-term holders who stay the course and reap all the benefits.
A bear market is a perfect opportunity for you to buy even more.
The best mindset as an investor of crypto is that if your high-conviction play has a dip, you buy more. The more coins you have at a lower price, the higher your ROI will be later down the line.
I never invest more than I’m willing to lose and that’s why I continuously invest and make plays in the markets.
As a long-term holder, you don’t have to worry about the upswing, the downtrends, etc. — because you’re holding for a long time.
There’s no reason to sell at a loss during a bear market, everything is likely to come right back up.
Crypto is changing the game of currency. There are tons of different coins to believe in.
Obviously, Bitcoin has a huge influence on the overall crypto market so if you are wondering why your investments are down, it’s likely because of Bitcoin.
Understand your plays. Understand where you’re putting your money.
The more knowledgeable you are, the less you will stress and the more confident you’ll be through the lows, and reap the benefits on all the highs.