I'm relatively a newbie in crypto scene having started last Aug and avoiding FOMOing is one of the lessons learn. Being patient is very important whether in stocks or crypto. Last 8-9 months there were so many such cycles of unexpected hype and euphoria and bull run followed by some massive FUD and reversals. The current bear run since start of this year is the longest I have seen, but if past is any indication then we should be consolidating and find a bottom soon and then slowly the momentum shifts and the masses arrive and prices shoot up and up. There is lot of strategizing needed to make most of such bull and bear runs and to emerge in the end with more corn than you started out with.
I don't think there is one easy strategy, everyone finds their own ways of succeeding through trial and error and experience. "Markets can remain irrational, much longer than you can remain solvent" is an important quote to remember while trying to plan to outdo the market. Some losses are part of the game, riding it out and looking at long term is more important. I have cut out all short term trades for some time and now focusing on slowly picking up some good coins which are at really low prices almost near the pre-alt season prices 3-4 months back.
One other question I have is that over last 6 months the visibility of crypto-currencies has increased several fold and more and more applications of blockchain is happening. The number of people active working in this area and the quality of projects and the innovation level is increasing rapidly with every month. With all this happening, it is time to wonder why some projects generally acknowledged as good ones with future are today much cheaper than they were a few weeks ago?
What changed? I cannot really think of anything except sentiment of people who are speculating and guessing the value of these coins. If NEO was $180 a month or two ago, why is it $50 now? Is it because of some FUD report recently? Why is Cardano at 12 cents? what about ETH which was the favorite during ICO season, it is really really down and still going down. Did something fundamentally change? I'm not aware of any major flaws with any of these coins except some rumors of regulatory bodies cracking down which keeps popping up anytime folks want price to drop.
I have no idea if these coins which have dropped quite a bit recently, will continue to drop even more or will they find the bottom soon and start reversing. But one of my learnings has been that I'm not really good at finding the exact top or bottom. People who are not super smart with TA/FA and don't have lot of trading knowledge rarely catch the bottom or top. So next best thing is to start thinking long term and start buying the dips slowly on the way down. Same with exiting, don't aim to catch the very top. Sell some on the way up and build up your BTC. When you really don't know then getting a good entry and hodling also plays off in long run with coins with long term potentially. Worst case you become a 'community member' :)!
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