I saw some guys talking about NXT/ARDR price in the trade chat today and it reminded me about my days back in 2013/2014 when I was also panicing about every drop in the charts. It's funny how we always cheer about a 50%, 200% or even 1000% rise in the price and take it for granted, but when we see price going down we are not just sad, no, we start to PANIC!!! Stupid isn't it?
I felt like I had to jump in and say something, so I wrote a message in the chat to help some new people who are not that long in the crpyto game understand how things work in this market.
I thought I just share it with you. Maybe it helps someone out there :)
Panic panic! Ardr below 7k Satoshi!!!
OMG, guys! Relax! Ardr is not even live yet. People bought Ardor Mid-End-June because they thought it will go live on the first of July. It is not! There was never an announcement. It is still scheduled to launch in Q3 2017. But people don't research. They just hear something, rumor spreads and forms and everyone think it's true.
And like people are, they are impatient. Now they are selling their coins to jump on litecoin or antshare or stuff like that. Why? Because it's rising! Then they lose their money there because they bought in way to high and they will jump ship again to the next coin, hoping to make quick profit there. Till they realize they are still not making profit because the coin they just sold is going back up and the one they just bought is dumping.... same cycle over and over....
As soon as we have a date on Ardr and price rises quickly, they will jump back. Most of them will buy back at a higher price than that they sold at. And at the end you will hear "I should have just held my coins".
It's always the same. I am watching this since 2013 and I just sit back and relax. Because in the end, long term is king. It was like that 4 years ago and still is. Let it go down. It will go up again. For me it's just another chance to buy because now I know to where it can at least go in the next months.
Oh, and for all the newbies: Yes, you can make profit with coins by trading. But most of you will fail. Everyone thinks he is more clever than everyone else. Well, maybe some are. But most of us are not. Emotions is killing your money. Why stress yourself when you can just buy great undervalued coins and hold long enough to make much higher profit than by jumping ship on a daily basis?
Cheers! Over and out :)
So, to reflect this on other coins:
I think many people are better off holding coins long term. Trading is not for everyone (it's not for me either) and it can be really stressful for most of us. Always chasing the next pump and beating yourself up if price drops and you did not sell. I bought coins many times and they went south almost every time at some point. Look at bitcoin, ether, litecoin, dash, (should I go on?).... They all experienced heavy crashes at some point. And they all recovered at some point. It's normal.Â
What made me make very good profit although I was in red for many months sometimes? Well, I did not sell. I just held my coins and let it be.
Well, I have to say that I don't invest in coins that I did not research about and trust. I don't do that anymore. I would never buy "Funcoins" or coins that are just a copy of a copy of a copy (you get what I mean). While you can make profit on these coins, it's more like a gamble than a real investment.
When I believe a project is strong enough, has good fundamentals and a trusted and professional team behind it, I can sleep well. Knowing the problem will solve itself. Either in a few days, a few weeks or even a few months. I don't care anymore. Because it will go back up at some point.
BTW: This is a another chance to buy some cheap ARDOR and NXT before the launch of the Mainnet and the NXT snapshot for free IGNIS coins. Check out my other posts where I predicted the rise of NXT and ARDOR two months ago:Â