This post is specifically for those of you, who recently bought into Bitcoin or another CryptoCurrency at higher price than it is now.

Important Disclaimer:
Before you read, please know, that I am not a financial adviser. Take this post with a healthy grain of salt and do not invest on the basis of this post. Doing your own research is important. This is my personal take on the topic.

Red numbers

Many numbers are looking red, compared to about a month ago. When Bitcoin goes down many alternative coins, go down as well.

It seems a main reason for this is the upcoming softfork of Bitcoin.

Super short version: Bitcoin will be “updated” with Segwit. Segwit will be able to handle more data at once, hopefully making each individual transaction go faster. At least that is the idea. Maybe Bitcoin will even “split up in two versions” during August. This will probably have many people selling scared.

For this reason, you will probably not see a huge rise in price this month, maybe not even during August. Perhaps it will even crash, if too many traders are panicking. However, that does not mean you should sell low now, if you bought higher. There is no reason to panic just because it looks like you are losing “money”. You are not. If you bought 1 Bitcoin now, you will still have 1 Bitcoin when the softfork happens, and I see no reason why it should not go up in value again, since CryptoCurrency is still gaining so many new investors all the time. (Feel free to argue otherwise in the comments).

Playing CryptoCurrency as a long-term game is usually the best and easiest strategy. Therefore, you should not look at Bitcoin falling from $3000 to $2500 and freak out. It in all likelihood go up again soon. The same goes for the popular AltCoins that have practical use cases. Many of them are dropping, a few may be climbing, but overall, you will most likely be fine, if you have invested in Crypto that have long-term prospects.

So don't sell in a state of panic. This almost always leads to losses or missed out opportunities. Clear your mind of fear, and look at the market rationally, when deciding whether to sell, buy or not do anything.

Image source: sarabbit on flickr

Thanks for reading. Remember to stay calm, and have a lovely day! If you like this sort of content give it a resteem or an upvote. I will see you in the comments!