You Don't Lose Money In Cryptocurrency Until You sell the Dip

[Niftyyem]

I have that experience. Just recently dogecoin went up as high as seventy three cents per dogecoin. I bought when it went down to sixty six cents. I planned to sell it to seventy but dogecoin gradually went down to twenty cents. I sold at twenty four cents per doge because of fear that the price might go down to one cent.

I understand that feeling extremely well but I now know not to sell especially if the loss would be more than 6-8% of my investment no matter the temptation.

 

[soxcryp]

Major reason why I don't do panic selling instead I hold on to my coin till the value of the crypto bounces back if not I swap for a better performing coin.

It is an interesting strategy although it is always useful to keep your eyes on what the analysis is telling you as much as possible.

On Friday I was about to trade AXS with that strategy in mind, but in the end I decided to stick to my analysis and bought back at a better price. Fortunately for me.

Thank God, yesterday was profit day. But that was a close call.

Post automatically merged: Sep 5, 2021

With what am trying to build now , I might be able to earn a minimum of $200 monthly passively as well , through cryptocurrency staking and liquidity provision.

That's great, just a process that requires ant work.

Post automatically merged: Sep 5, 2021

I have that experience. Just recently dogecoin went up as high as seventy three cents per dogecoin. I bought when it went down to sixty six cents. I planned to sell it to seventy but dogecoin gradually went down to twenty cents. I sold at twenty four cents per doge because of fear that the price might go down to one cent.

It's a pity, I remember it well, by that time the market was very overvalued. What happened was imminent.

However, the Dogecoin project is expected to make a surprise recovery at any moment, due to the work being done internally with relevant characters such as Elon Musk and others, who are betting on giving it a position in terms of usability.

 

[ahmedo24]

Elon Musk is actively working towards building the use case of doge coin which will be a justification for promoting the coin to pump the price significantly.

 

[Kunkun]

Yeah this mistake is quite common too actually and most people investing usually learns of this the hard way, with crypto as long as you still have it there is still a chance in the future

 

[jeff87]

People actually sell the dip when they are scare that the dip in price of cryptocurrency may go deeper than normal if they do not sell it on time.

I agree with you. I have that experience where I sell in the dip because I fear that the cryptocurrency coin will crash. I have seen coins victimized by pump and dump strategy.

 

[Kelly5]

You wouldn't still loose money in cryptocurrency if you sell the dip that ha not yet gotten to your price level that you bought your coin at. So, you might still be in profit selling that dip but its going to be lesser profits

 

[Chibson]

If you really want to succeed in cryptocurrency then you should cultivate the habit of being patient and consistent with your strategies if you are a trader.

 

[Kennysplash]

Of course, if you are willing to hold for a very long time you will make your profits. But who can wait for years? That is why people buy and sell when they see sign of loss. But investing long term is still the best.

 

[jeff87]

You're actually needed to be patient because the cryptocurrency in question might just arrived at anytime I'll give you profit but if you sell during the dip, if you are said to have sold at loss

I agree with you just to be patient. I have this recent experience of waiting for a week before I sold my XRP. I bought at 1.20 dollars the price went down below one dollar and then I waited patiently to sell at 1.4 dollars and it happened.

 

[Chibson]

If you really want to succeed in cryptocurrency then you should cultivate the habit of being patient. Patience is the key for being successful in cryptocurrency.

 

[soxcryp]

You may be right but people do not have the same endurance limit and people tend to panic when there is a dip and they rationalize that they should quickly cut their loss by selling before it dips further.

Hence the convenience of studying and learning a little about how the market works and the opportunities that manifest themselves, buying when a support zone is confirmed after the fall, and selling when the signals show that it cannot go any higher.

Post automatically merged: Sep 7, 2021

If you really want to succeed in cryptocurrency then you should cultivate the habit of being patient and consistent with your strategies if you are a trader.

It is like this, patience, and keep a good record of our operations to know at the time that is required, what is the situation of our investment.

 

[Sincerem]

I don't like losing my funds invested around cryptocurrency. That's why I spend the amount which doesn't matter much to me and forget it there until my profit comes.

 

[btaliat]

These are the basic knowledge that all crypto traders need to know. But they don't even mind. They are all after the money.

 

[Nomad]

people sell in dip for two reasons, one they panic once the coin begin to lose value, and they sell off their assets. Two, people need money and they cannot to wait until the price will go high

 

[soxcryp]

people sell in dip for two reasons, one they panic once the coin begin to lose value, and they sell off their assets. Two, people need money and they cannot to wait until the price will go high

That is why the best strategy to enter the world of investments is to do it with money that you do not need at the end of the month.

 

[Alexandoy]

I don't like losing my funds invested around cryptocurrency. That's why I spend the amount which doesn't matter much to me and forget it there until my profit comes.

If you wouldn't need the money that you invested in a crypto coin then you will not lose if you will not sell when the price drops to scary levels. As long as you hold your crypto coin then you have not lost. However, maybe we cannot say the same for the Doge which is now stagnating.

 

[Nomad]

That is why the best strategy to enter the world of investments is to do it with money that you do not need at the end of the month.

That's very true. You should invest with the money that you can hold for a longer period. If you invest the money that you need shortly you might end up selling in the dip.

 

[Sincerem]

If you wouldn't need the money that you invested in a crypto coin then you will not lose if you will not sell when the price drops to scary levels. As long as you hold your crypto coin then you have not lost. However, maybe we cannot say the same for the Doge which is now stagnating.

Yes, provided you hold your cryptocurrency you won't lose, cos the coin can't drop down to zero. It's advised to invest on a long time coin to avoid bizarre drop down.

 

[Blessedsam60]

You are actually right. But the case is that people don't like seeing their investment (crytocurrencyll) going dip. Some will rather sell it and hope to win some other times. But when the bull season returns they start regretting

 

[nimzy]

Yes I agree that the amount of money you deposit on cryptocurrency can not be loss but it depends on the time and the purpose of which you are seriously in need of the money then you may not be a to get at that time.