Avoid panic selling during the dip

We all know about the crypto situation all over the world. The price of BTC and altcoins keeps going up and down in the last few days. Some people see this as a great opportunity to do some trades. Even though it is risky to do some trades right now, there is no harm in purchasing the dip and waiting for the market to recover back.

Only one group is thinking this way but otherwise, another group is thinking about panic selling their crypto. We cannot prevent this from happening, there will always be a group of people who would panic in situations like these and try to liquidate whatever they have. In a way, it is good but not always right. Sometimes we might even end up selling things at loss. But for people who don't care about their losses, this shouldn't be a big deal.

Source

Think long term

People who don't have any urgent need to take out the money can think long term. Even in the worst case if the market goes down, there will always be another positive trend. In most cases, people who do panic selling are the people who are inpatient and don't think long term. Any investment that happens in the crypto world should also have a long-term consideration. Most of the time the fruit may not be just ready yet. If we are patient, the rewards can be really great.

For people who want to stay invested long-term, these small ups and downs shouldn't be a big deal at all. They can keep doing some swing trades to recover their investment and transaction fees. Thinking only long-term also comes with a little trouble. If there was an opportunity in between to sell and buy back it would have been missed if we only have the long term as the goal. These are a few things that we have to analyze and come up with a conclusion.

Buying opportunity

There would be people who would have sold and booked their profits for a high price. For example, when the price of Hive was over 2$ and close to 3 dollars, many people booked their profits by selling their Hive. The price did not stay there for a long time but we all know that price of Hive can go and reach that place again. In that case, why can't we just buy back some Hive when the price hits below 80 cents. Just 20 cents as profit when the price hits 1$ itself should be a great buying opportunity for us to do the purchase again at 80 cents and wait. We don't really have to wait for the price of Hive to reach 2$ or 3 dollars or even more than that. Even if we sell it for 1$, it is sufficient profit.

Once a wise man told us that we should be selling when others are buying and we should be buying when others are selling. This applies perfectly to the panic selling category. If we can judge and find out how buying and selling works, then it is more than sufficient.

If you like what I'm doing on Hive, you can vote me as a witness with the links below.

Posted Using LeoFinance ^Beta