Stock market and cryptocurrency market are both volatile and risky for sure. In recent time gold silver and cryptocurrency market crashed badly. Why did such a situation arise and what is the reason behind it? I am sure there are many questions behind it and if you are a holder, you must be thinking that what to do in such a situation. Will it be a wise idea to sell everything or keep holding and accumulating?
To be honest, I feel that the gold price and the price of silver were indeed too much considering the situation. But I am also shocked to see such a crash of gold and silver. At least, I haven’t seen the price of gold and silver crashing in that way. I felt like silver and gold became like cryptocurrency and can be pumped and dumped like crypto. For me, it was indeed surprising and shocking at the same time. Whatever let’s come back to the crypto. I am sure there are many people who suffered loss in crypto because of the market crash.
Nobody wants to lose their assets in crypto but because of some wrong decision people end up losing their assets. Altcoins holders taken the major blow again. Firstly, altcoin didn’t pump well in this so-called bull run and every time price dropped again and again when BTC price dumped. As a altcoins holder I can also understand it well. After market crash people start to panic more, make wrong decisions and it makes it more difficult to recover the loss. So, staying calm is most important. Because of impulsive decisions, selling out the crypto is not the solution.
Emotion is the real threat in such a situation, and it should be in control. In my case I have advantages as I am purely a robot when handling such a situation. If you can’t come up with a solution, you can stop thinking about it and stop panicking about the loss. Additionally, there is no benefit for you if you panic. So, try to stay calm. If you feel stressed, you can spend time with your family and if you can’t do that you can at least spend time watching dramas and movies whatever you want and help you to relax. Checking the red portfolio and red candle again and again won’t change anything except making things worse for you.
Let’s talk about strategy. I think DCA is the best strategy in the time of market crash. But for that having stable funds is also necessary. If you don’t have the stable fund, the DCA strategy can’t be used as how can you buy crypto with the fund. In that case you can go for another option where the chance of winning is high. The strategy is very simple. You just need to sell 5% of various crypto assets to manage little fund invest that crypto which usually recover faster usually after market crash. Use the little fund for the scalp trading but don’t be greedy too much otherwise you may end up losing your little fund also.
If you know how to trade well, I guess, it should not be an issue to make quick profit and later you can use the fund for the DCA method or reinvest in the same crypto from where you got that fund. In that case the quantity will be increased at least. Never dream of full recovery of loss as I feel it’s dangerous because it may lead you to lose more funds.
My last word is have fun, and enjoy the time with family and friends. You are not the only one who suffers the loss. And nothing is going to change if you take stress about it.
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