#14 A Bear Market and How to Act (Newbie Edition)

in #bitcoin7 years ago (edited)

Hey Everyone,

I hope you are all doing well! (Lets be honest the only way you are well is if you cashed out before the market went south) 

Fortunately/ Unfortunately I entered the market on mid June , and if you are here for as long as I have been you know that it was the time we hit limit up. Everything start doping after I purchased my coins! 

We are in a Bear market and we have to accept it.  Until August 1st which is the Bitcoin fork the market will continue downwards. After August 1st my prediction and based on what I read it will be a good day to evaluate the market, I strongly believe that the market (if everything goes well) it will swiftly recover after that day.

But the question is what we shall do until August 1st?

Well the answer is pretty simple! Don't do anything. If you have already bought in a high price (which I believe most of the newbies like myself did) just HODL! You are not loosing money until the time you sell your coin.  Take a walk go see a movie, re-watch the Game of Thrones Marathon.

An alternative option that you have (if you have to do something) sell and buy in lower price more of your coins! Option B is risky because the price of the coin you sold can get higher and thus you loose!

Please if you cherish you money and you are new like I am, with no prior exchange experience do not try to play the market, because you are doomed to fail! 

The reasons are simple: 

  • there are experienced players in this game that do that for much longer than you do!
  • If it was easy everyone would be a millionaire today
  • Have you study technical analysis at all? Or you just jumping in?

Well do the market and yourselves a favor and stay out of it for the moment! If you want to add more to your coins you can always purchase more, one day the market will rise and you be prosperous!

Never forget, is is an investment and has to be treated that way!


 Thank you for reading!

Please leave a comment with your thoughts, Resteem and Upvote

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Why would a hard fork in Bitcoin cause all coins to crash? They are supposed to be independent of each other, Bitcoins woes should not reflect on other coins, in fact the hardfork hasn't even happened yet, so why would it affect anything. I personally think there are much bigger players in this thing who are just toying around with the crypto world to see how far it can go, see they first gave you a surge, ask yourself, why would all of a sudden for no particular reason all coins increase in value and then for no particular reason they lose value?

@gduran I will agree with they are bigger players involved and they are the ones that want the market to go down so they can buy cheaper once more. 45 billion vanished from the market, I guess they went to those individuals!

just hold and don't panic

Could not state it better!

@andips13, you may be a newbie, but your words are wise, there are only two options, wait or buy with low prices. There is no loss until you sell!!!

@dssb exactly! No loss until you pull the trigger , we just need to hold good days shall return!

Seeing my money in bloodbath is so frustrating to watch but posts like this make me feel better. Thank you.

Everyone,s in the red. If you dont need the money right away, youre gonna be fine. I dont even look at portfolio. Really relaxing!

Well you have done an investment give it time and it will pay off. I have the bad habit of checking mine a lot, but I am getting better at it lately

I am glad to hear that! Trust I feel your pain I am down 50% but I am holding like no tomorrow

I'm a newbie here, and this post helps me a lot. Thanks for sharing. :) btw, I saw this on the fb page just a couple minutes ago.. hihi.. Have a nice day! (^^,)

Thank you tegoshei! I have se n your posts as well :) Keep up the good job!

Thank you very much... :)

Great read, thank you!