Keep Strong 👐

Markets reward strong hands. Managing your emotions is key to making good decisions. This past week has been trying times for the community. Volatility is the nature of the game, and Bitcoin reminded us of that by dropping below 10,000 dollars today when just a few days ago it was worth around 12,000.

Believe in the Technology

The difference between speculators and investors is the mindset. Investors are confident in the underlying value of the asset. Speculators buy because they think someone else will pay a higher price than they did and they can sell for a profit.

When a dip inevitably happens, fear, doubt and uncertainty will grip the speculator. They may not even understand the value of what they invested in. Because of this, they are much more likely to sell at the first sight of the dip and miss out on the big picture bull run.

The investor can stay calm during the volatility because they deeply believe that the value of the asset is secure. Their timeline is measured in years or decades so the dip is just noise (or as an opportunity to invest even more)

Stop Looking At It

Seriously. Close the charts. Turn off the news. You’ll feel a lot better

Don’t Invest More Than You Can Afford

If you truly believe and understand the asset and your hands are still sweating, you’re doing something wrong. Most likely, you have too much invested

In hindsight, everyone wishes they had invested just a little more. In reality, the skin you have in the game impacts the trading decisions you make. Had you invested “just a little more”, you might have caught weak hands and sold off a day too early.

Change Your Strategy

Trying to time the market with your whole stash (and getting hit with massive fees) is a losing strategy. Instead, you might try Dollar-cost averaging. This strategy involves buying in fixed amounts of money on a schedule. There’s no cashing out when a dip happens.

Instead of trying get out of the market when the price drops, just buy more and consider it a “discount”.