I think I must be a pessimist.
I am also a minnow in the Crypto world!
I don't like buying when the market is buoyant - even if I can see that the market is slowly increasing.
I previously bought my Crypto low, and sold when they were "high" (about a 30% return) - the fact that they went higher didn't bother me as I don't watch the market from second to second (or even month to month!). I had a little left over that I didn't convert, and when I checked it last week my £20 had lost about 40% of it's value.
Hmmm... now should be the time to have a look at the market and work out what to do.
NO, it's not time to panic and pull out my last £12 of Crypto. Instead it was time to put £50 into my trading account and play the markets again. (see, I told you I was a minnow!). If you haven't got a Binance account yet, here is my affiliate link - we both get rewards then!
I had a look at the markets to see what was going on. They look low. Could they go lower? Yes, they could. Does this bother me? No, I am happy to wait until the markets settle down again (and it might be a slow long road).
There's always this little thing in my head that says "If i bought some bitcoin 10 years ago, I could be very rich now". So if i am lucky, and buy some crypto now for a few pounds or bucks, and forget about it for a while, maybe that will happen to me. Forget about the markets and HODL for medium to long term. n.b. I don't just put into Crypto what I can afford to lose, I put in what I won't notice going out of my fiat account this month (and yes, it has been a slow spending month). Almost money for nothing... :-)
So what have I bought this time?
HIVE - I couldn't resist some HIVE as I like the HIVE and LEO Crypto Communities and Online Worlds! Plus I enjoy Splinterlands,so I am happy to back the blockchain network that it is built on. Splinterlands Affiliate Link
(HIVE/USDT YTD)
WAX - I play Alien Worlds from time to time, so get some WAX building up. I might as well buy some more and keep drip feeding micro-earnings into my pot.
(WAXP/USDT YTD)
ALGO - I have always liked ALGO for two reasons : 1) The transaction fees have been very low historically, and 2) I can stake ALGO once i have bought it.
(ALGO/USDT YTD)
So, lets see how the markets react in the next 3 to 6 months. They will probably drop more initially (Ukraine war ongoing, energy/fuel prices to name but a few external factors), but then hopefully stablise and increase as we get into the Dec/Jan period and Apr 2023 period (all times when people re-assess their finances and are generally trying to be positive buying into things)!
What is everyone else doing? Are you buying or panic? Do you have any good or bad stories to share? It would be great to hear from you.