Hey Everyone,
I hope you are all doing well! (Lets be honest the only way you are well is if you cashed out before the market went south)
Fortunately/ Unfortunately I entered the market on mid June , and if you are here for as long as I have been you know that it was the time we hit limit up. Everything start doping after I purchased my coins!
We are in a Bear market and we have to accept it. Until August 1st which is the Bitcoin fork the market will continue downwards. After August 1st my prediction and based on what I read it will be a good day to evaluate the market, I strongly believe that the market (if everything goes well) it will swiftly recover after that day.
But the question is what we shall do until August 1st?
Well the answer is pretty simple! Don't do anything. If you have already bought in a high price (which I believe most of the newbies like myself did) just HODL! You are not loosing money until the time you sell your coin. Take a walk go see a movie, re-watch the Game of Thrones Marathon.
An alternative option that you have (if you have to do something) sell and buy in lower price more of your coins! Option B is risky because the price of the coin you sold can get higher and thus you loose!
Please if you cherish you money and you are new like I am, with no prior exchange experience do not try to play the market, because you are doomed to fail!
The reasons are simple:
- there are experienced players in this game that do that for much longer than you do!
- If it was easy everyone would be a millionaire today
- Have you study technical analysis at all? Or you just jumping in?
Well do the market and yourselves a favor and stay out of it for the moment! If you want to add more to your coins you can always purchase more, one day the market will rise and you be prosperous!
Never forget, is is an investment and has to be treated that way!
Thank you for reading!
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