Crypto is falling, everyone is complaining, noise is louder than reasons. “What is wrong with this market” another asked with frustration in his voice. It's time to get out of this emotional draining trap, he said. I am selling everything to focus on something else the other concluded. But hey, before you make that decision hear me out first.
Before you decided to invest your money into crypto I believe there some things that attracted and gave you the conviction to invest in the first place. Now that the market is not going the way you expected it, take a sit back and ask yourself this question “Has your thesis change?” Has the fundamental reason you believe in the crypto you interested in changed? If the answer is no, then the price dip is just noise and opportunity to accumulate more.
Think about it, you didn't just decided to invest in that particular coin because of price increment or hype but because you believe in the project vision and the potential it has to create real value in the long term. So, price drops shouldn't shake your conviction unless the fundamental has actually changed and the project is bound to fail or lose its place in the market.
A strong project with good fundamental will eventually recover and reward those who held through the down times with substantial gain in the long run.
I believe every crypto investor has a timeline for their investment and a set of goals they want to achieve within that timeline. What is your timeline? Are you investing for short term or long term? If you are holding for long term then, short term price fluctuations shouldn't be a concern for you at all. You need to think of your portfolio based on your goals, not on the current market sentiments.
Remember cost basis matters less than future value. If you are already in the red, selling won't recover anything, rather it locks you in the loss and prevent you from participating in the potential recovery and upside when the market bounce back. If you bought at $0.50 for example and the price is now at $0.15, you have already taken the loss on paper but selling now would just cement your loss but holding at least gives you a chance at recovery.
As I see the crypto space right now, it's like the beginning of a new circle. The market may even go dipper than it is today in the coming days or weeks but this is exactly when conviction beat speculation. It is an opportunity for those with strong conviction to build their positions at low prices and position themselves for the next bull run.
This is the time to separate believers from speculators and if you have done your research and truly believe in the project you have invested in, then this is the time to stack and accumulate more at discount price. Start building a new position, by the time the market recover and the next bull run kick in, you will be celebrating.
Hold on, and hold out. It's just a phase in the market circle.
