Is This Panic Sell Period Or Accumulation Period?
Good day everyone. The first thing I do every morning is to check the price of BTC. Yeah, it's quite annoying knowing how BTC dominance is still controlling the market. I am happy to see that Hive is gradually breaking away from BTC dominance. Although, there's still some control it has over Hive and the entire crypto space.
The price is still falling, and some people may be thinking of selling their current position and they are some other people who are busy accumulating. So, what is the best opinion for me?
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Except you are a newbie in the crypto space, because you ought to know that this is just a phase and phases only last for sometime. It's a bit sadden, seeing your portfolio dropping in price, it's heart breaking, I must say. I had a token which was worth $3,500 at July last year and it's currently worth $80. It's sad!!!
This is time to invest in utility based projects like Hive, BNB, ETH, EVERGROW and others, because they will definitely bounce back. It's time to stay away from Memes tokens, because some may not be able to recover from this bear market and cease to operate. So, always do your research when accumulating during a bear market period. When it is a bull market, you can jump into any project and you will most likely get some profits, but now(bear period) is not such time.
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This is the period of accumulation, this is like a Promo Price. Although, always use your spare capital to invest, so you don't get over emotional with your investment. Imagine, using your rent money or feeding money to invest, and this bear market last 6 more months, how would you survive? Then most likely, your initial investment might have lost it's value and you sell, after 6 months, the token does 10x and you regret. So, don't enter the market if you don't have spare capital.
Although, you could make the sacrifice and invest, selling some properties. But you should be emotionally strong for such decision and also you should have a target price when you are going to take your profit. Hence, it's for someone with strong emotional control and that understands, the "no regret" game. If you should take such risk, ensure such projects are utility based project.
Millionaires and Billionaires are made through this kind of period. People who have money and balls to take the risk to invest when the market is down, will definitely smile to their wallet when the bullish market starts.
If you don't have spare capital hodl your position on utility based project. If you have the capital and the emotional strength, it is time to accumulate.
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Kindly share your thoughts about the article, in the comment section below. What are panic selling or are you accumulating? Let me know in the comment section.
Disclaimer: Please note, I'm not a financial adviser, I'm just sharing my experience and research with you all.
All images in this article are from Pexels, hence, they are free for resuse.
Till I Come Your Way, Stay Safe!!!
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Thanks For Reading
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