Whenever there is a large decrease in cryptocurrency, panic often occurs. And finally many who suffered losses.
However, there are other ways to deal with this, one of them when there is a big / significant decline as an opportunity to buy and a chance to earn even greater profits.
It is up to the investor to decide whether to use this method or not.
I will give you 4 powerful methods to overcome the price drop in cryptocurrency and turn it into a big advantage.
Indeed this method is famous for very difficult, but you need to do with great patience and great confidence.
Buy the dip
Buying when a large decrease in the price of crypto / bitcoin is one of the easiest ways to make a profit. However, this is not always easy to do because it requires approximate and timing.
If you intend to do this you should know where the lower price will be achieved by crypto / bitcoin when it decreases in price.
Determine the strong odds
Vinny Lingham, CEO of Civic, advises investors to "find quality coins with teams you can trust to be executed and strong if there are some strong hindrances" and then hold the coins.
For this point, you must identify the coin with a solid foundation and an attractive business model.
Hodl Or Hold The Coins That You Have
Surviving through tough times is the most basic and most respected strategy. If you do not sell the coins you bought at a substantial price reduction, you have not lost.
This is one of the most basic strategies to deal with accidents - do nothing.
Sell with Fiat pair
This strategy is somewhat controversial and may be very efficient to deal with a surge in price reductions.
Shorting Bitcoin
Hemh this is quite a big risk but if you have expertise in the analysis and predictions are right. Maybe this will give you many benefits, but if your prediction is wrong you will lose everything. Keep caution yeah guys ..
Usually this service is only available in some exchange exchanges that have market margin.
Buy, hold... buy more, hold. Ideally, you use dollar-cost averaging!