My journey with Crypto and blockchain started a few years back and boy I must say it was not that easy at times. Imagine you thinking crypto was just buy, hold for a short while, and then take profit? That was what I thought but after I joined I realised it needed more than just buying and holding.
Have you ever been in a situation where you thought oh shit, I shouldn’t have invested in this coin? Well, I can boldly say you are not the only one. Every trader has had regrets and most traders have regrets daily. Imagine you set a little buy for hive at 0.5 thinking it won’t go way below 0.5 and then after a while you start thinking damn, why did I do this?
Deep down in your heart, you knew that it might happen but you were not prepared for it or you didn’t wanna accept it. As they say, the market gives us an opportunity all the time. You not happy that you couldn’t get to buy hive way lower might be boring but at least you should be grateful you bought a dip.
Buying the dip is not about getting the coin exactly at its cheapest price before it rises again, you might never get it there. I think the word “zoom out when in doubt” is used mostly in a bear market but I think it wasn’t meant to be used just in a bear market.
As you will have it, we have different types of traders. Different types of traders have the type of market conditions that suit their trading style. Making profit in crypto doesn’t just happen because the market is bullish and most of the coins are bullish, remember some traders open leverage positions and go for short, so the market collapsing is a plus to them.
Some traders don’t actually care about the market condition cause it makes no difference to what they are doing.
So whenever you are trading and then a glimpse of doubt pops up in your mind. If you don’t trust what you are doing, the best option is to zoom out and come back when things are better. The market might not be where you want it to be today but be sure it will always give you an opportunity.
Whoever in his or her wildest dream ever thought btc could go back to prices less than 20k or even 17k after shooting to 69k? This goes to show you the market will always give you an opportunity.
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Note-This is not financial advice