The popular cryptocurrency slang 'dip' has become associated with the term 'buy the dip!' ... Do not fall into this trap of determining any drop in price as a dip, this has caused thousands of investors to lose money by entering positions at the incorrect time. Buying when price slightly falls, only to suffer huge losses as it continues to fall up to 50% before it regains bullish momentum. Markets move up and down, this is a cycle of life. Understand the market before you invest in it and be calm when price falls, buy the 'dip' only when it falls to a logical level of support. We are here to control our emotions and make money, simple💰
You must constantly put your emotions in check when dealing with the market. You don’t just buy because its diping. For example bitcoin has an explosive growth in the last three months. Despite the pump in price we made repeated calls that bitcoin was long overdue for a massive correction but the attention bitcoin got from the mainstream made a lot of people throw caution to the wind.
Another pull back could happen bringing bitcoin to $6000 level. Don’t be too excited do some technical analysis by yourself or look out for professionals in the field. Emotions can get the best of us sometimes, taking control over them during these periods will determine your profitability over the long term.
You have to exercise caution as you look to profit from the declining market. However, if you already bought at all time highs the best thing to do is to hold through the fire.
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