Hello fellow steemians. So as we all already know, the crypto currency market is red and has been pretty much like that over the weekend. All this is due to long term corrections. I reckon that "panic selling" has a lot to do with it as well. I mean, what can I see, if you can't stomach a long correction period, than trading is just not for you.
When this happens, selling should be the last thing that you should do (if your looking at it long term). Instead, you should be looking the strengthen your position, if you can afford do to so that is. If you're in it to make a quick buck, then by all means withdraw your funds and go about your business.
Just take a note, that this industry is still at an infancy level and a lot of these cryptos on the market are still highly speculative. Only a handful are working on further development and those that do they will stand out among a growing crowd.
I don't know about you, but red day only means it's shopping time for me, an opportunity to get your cryptos at a bargain. Again, only spend what you can afford to lose. It's just silly to put all your savings on an industry that still doesn't have mass adoption just yet. It will be in the near future, don't get me wrong, but you have to understand that not everybody knows about crypto currencies and blockchain technology just yet. A lot of people I talk to about this still think I'm speaking alien.
The way you gotta see it is that you're an early adopter to something that's gonna flourish one day, all you need is a little bit of patience.
Now I am no financial adviser, but one of the things you could do is keep adding to your portfolio. Start small, little amounts per week or whatever you can afford to spend. Before you buy a coin, study it, research it, don't follow the hype. What is the coin/token or platform trying to solve, who is the team behind the project? All please PLEASE, when your trading leave emotions at the door, for it will do you no good! For example, if some supposed "guru"is giving you a signal or is claiming to know how to read charts. Don't be scared to do your own due diligence first!
Thank you for reading my fellow steemians! Have a fantastic week and steem on!
