Don't be Afraid of the Crypto-Roller Coaster Effect
I wοke up this morning and saw the markets in Red. There is a "term" we crypto lovers use for that particular dump and it's called Bloody Mondays. I bet you all heard this somewhere.
Anyway, the majority of you know that this isn't a big deal as the prices already got a little bit up again. What about the new users though? How are they dealing with it?
Before i start talking about that, let me tell you what exactly happened with the prices just in case you are not completely aware of the events that took place.
For this, I'll talk in euro terms for all the people who are checking the prices in euro. Through the evening (at least in Greece and west Europe) bitcoin went down from 44600 to 39000 euro and eth from 1500 to 1080! Even Leo and Hive had a similar decrease, at the moment that i checked LEO from close to 80 cents went down to 59 and Hive from 33 cents to 26.
That can scare the hell out of any crypto newbies and trust me when i am saying it, there are too many out there! For, example 2 friends called me and one texted me about this and they were scared as hell!
They thought they would lose everything and were ready to cash out. Before they start talking about cryptos being a scam and such, i laughed and told them not to worry, everything will be all right, you won't lose your money.
I also told them that they gonna see many similar roller-coaster cases but they need to keep their cool and make their research before calling me and if it's something big i will text them.
Now i know many people belong to that category and out of fear they most likely gonna sell anything, you in order not to lose anything. This is a rather common phenomenon because the crypto market is rather unique.
Pumps and dumps like that can happen every day so there is nothing to be afraid. Instead, try to do you research first and see if there is something that's going on and is the reason why the prices decrease a bit.
Let me give you an example of what i mean. If the government announces a new regulation that is against cryptos and it makes the life of everyone a lot more difficult then it's highly possible to see a lot of red and that's justified in a way!
Finally, for all of us, red days and bloody Mondays like this one is actually a sales day that you can buy cryptos with a discount! So fear not my brave ones and accumulate more and more cryptos!
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