We witnessed the ultimate bleeding in crypto market in last two to three days and there were some good things that happened during this dump as well as some bad things that happened for all of us. The bad thing is that there is already a situation of war between Israel and Iran and I think that is something which will only bring destruction for the world. The good thing is that the CME gap for bitcoin was finally filled and this was important, also the future traders liquidation from alts was seen.
Well whenever a war takes place it impacts both crypto as well as the stock market. I think by now people should know this already and that is why I will be talking about what we should do right now. What I have done in last two days. The market is crashing and it may crash further as well and to be honest from the historical data we know that majority of the traders for the safety of their funds exit the market by booking the losses.
At this point it is actually very difficult to hold on to your assets. It is something you will only be able to do if you have proper knowledge of crypto market and if you are reading here I hope you have that proper knowledge and with that I simply mean that you know the reason for current market crash down. Also bitcoin dominance increasing and that is something good for the future for crypto market.
When bitcoin dominance starts to reduce then it will bring a alt season for all of us. So until then here is my personal opinion on the already existing tokens I hold.
Don't sell them and just hold them for next 5-10 months.
Buy your favorite coins with good utility at discounted price and see this opportunity.
Stop seeing your portfolio.
Adding some new coins like FLT and XAI at discounted price.
That is what I am doing and the third point is really important because if you continue to see your portfolio again and again then you will probably end up losing your patience and then you might exit the market. I am no financial adviser here and make sure your decisions are only based on your research. For myself I am ready to be among that small percent of people who are going to hold everything for now.
I am going to pin this blog for future reference when the market recovers or dump. All the best everyone.
Thank you