The long term in cryptocurrency and why its so important not to get caught up with you emotions

Recently following the NEO flash crash where we saw NEO drop into the mid 20s I saw a lot of people panic selling, people who were saying "I'm gonna hold my NEO till it goes to 3 figures" were panicking to try and sell their NEO as fast as possible at some of the lowest prices its seen since its rise, and this got me thinking, a lot of average investors who claim to be in it for the long term spend all day worrying about what is happening on the markets only to sell at a loss due to fear and uncertainty.

Investing is not a quick way to make money, if you are a skilled trader with a decent amount of money ,experience and a good set of fundamental technical analysis skills then no doubt there is money to be made in the short term, but for the average person who has put a few hundred or a few thousand into crypto currency it is much better just to ride the wave of variance and think about the long term. I thought id write this article to firstly calm some peoples nerves and secondly to help people understand exactly why it isn't important what happens in the short term.

Cryptocurrency is a new and volatile market!

But this is why its so great...

The reason why we are all here and buying into crypto is because we believe its the future, we believe that the world will embrace this new and exciting block chain technology and we have been presented with an opportunity to make a lot of money while it happens. The thing is that due to the fact that this market is new and there are no set paradigms about how exactly things should be done there is a lot of experimentation going on, this means that people will change their opinions about things and will hear about newer things and then move their money from one thing to another, this means that prices will change a lot! and thats why we see huge swings every day, but its important not to get emotional and not to get too caught up in these swings.

The fact of the matter is that as we have seen over the past several years the total market cap of crypto is continually increasing and shows absolutely no signs of stopping, this money has to go somewhere, and it will go into good coins, the total amount of money in the world is trillions and trillions, as of today the total market cap of crypto is less than 200 billion usd this means there is a huge amount of room for growth, and the best way to benefit from this growth is by riding the rollercoaster, strapping your seat belt and not getting off the ride until the ride is over(or at least until your'e happy with your gains).

So whats the secret to success then?

The best way to succeed and profit from the rise of crypto currency is actually really simple, and its all about knowledge and balls! Stop listening to what other people say. Look at the coins which are interesting which really solve a problem and which have the potential to disrupt a market. Many coins in this market are actually pretty bad, and others may seem good but when you do research you realise they have a poor team or there is a better solution to the same problem already on the market, research coins, read the white paper, even if it takes two hours, and then ask yourself, is this a good product? Does it solve a real problem? Does it have good technology and a experienced, capable team behind it? If the answer to all these questions is yes then you should invest, and you can be confident in your own knowledge that it has a good chance of being a big player in the long term!

Once you are confident based on your own research that it is a good coin, keep an eye on the news, im not saying never sell your coins as if devastating news comes out then you may have to, however news such as the recent ICO regulation talks coming from china is not a reason to start selling your coins, this is a prime opportunity to prove your metal and ride the wave, dont waste your time or energy getting worked up over the fact that coins dip on a daily basis, because the losers in this market will, and then in a years time after they sold their coins at a 20% loss to "mitigate losses" you can laugh at them while you sit atop your pile of gold with hundreds of percent profit. The key thing is to think about the long term and completely disregard the short term, also remember you have no control over the markets, so dont let them control your emotions, make rational investments and hold them until you have made substantial profits and you will be very wealthy in the future.