So here we are againg - you open your Blockfolio and see markets crushing its value.
What the hell is going on?! Is this going to be the end of crypto?
No so fast honey, take it slowly!
This is not the first correction of Bitcoin’s history. How many of them do you actually know? What is the average drop from all time high and how long does it take to get there again?
You would be much more calm if you knew those answers and I have them for you.
I believe you have already 15+ monitors, 10 keybords and whole bunch of other absolutely useless things and I don’t have to tell you, where to find crypto graphs.
But in case you don’t, TradingView is everything you need, don’t complicate things.
I have used data from Bitstamp for this overview:
Bitcoin and your portfolio thanks to this huge correlation has already lost a lot of its value during this last fall which began in 17/12/ 2017, but it still doesn’t mean the game is over.
The average drop from ATH is aprox. 42 % (this one we are experiencing is already 53 %+). If we expect the price will fall 87 % which was the biggest drop, we could see the Bitcoin at 2 500 USD. The thing is - look at how long did it take to lose 87 % value … **It was 410 days! **
This correction we are now experiencing is way faster.
Those sharp moves are never good for market and won’t set longlasting trend. If we move so fast it is possible to hit 2 500 USD and recover to all time high during month or two.
When Bitcoin starts to rise again, this one resist zone is going to be rough.
What am I going to do?
- Find altcoin I want in my portfolio
- Buy this coin, when Bitcoin is at around 8k, 5k and 2,5k
- Hold my other investments
BUT! I can afford that because I am investing only money I can throw away.
You don’t?
Than get the hell out of crypto market! Losing money will effect you and because of that, you will sell at the dumbest time you can.
Keep it simple, don’t risk money you can’t lose, and diversify your portfolio.
PS.: No, when you buy BTC, ETH and XMR it is not diversification!!