When the cryptocurrency market is falling and everyone is panic selling, what’s the smartest course of action? You could cash out your cryptos to fiat and avoid your losses, or do the 3 things in this list and come out in the green.
1. Go outside, live your life, and forget crypto exists.
The biggest mistake people do is get consumed by the incessant candles of day trading. Doing trend analysis, taking part in pump and dumps or simply riding a wave for a few percent profit before exchanging it back (swing trading). While there are some experts who can do this sustainably, like any market, the algorithms (bots) set up to arbitrage and trade for low prices means the average investor doesn’t stand a chance.
In a bear market it might be best to keep your mind off cryptocurrencies, because the long term trajectory for this tech is only one direction – up. The minutiae of short term movements only matters if you’re not in this for the long haul.
Buy some great coins at discount
We’ve all heard Warren Buffet’s famous quote: ‘Be Fearful When Others Are Greedy and Greedy When Others Are Fearful’.
Although Mr. Buffet doesn’t believe in cryptocurrencies, and he’s right, the market is definitely in a bubble (I mean would any of the startups doing ICO’s right now be able to raise tens of millions of dollars if they weren’t cryptocurrencies?), his basic advice still rings true. A bear market is the best time to buy some coins for cheap.
Brush up on your research and project fundamentals
Even in a bear market, blockchain and smart contract projects are going to continue to revolutionize technology. Its interaction with automation, machine learning and artificial intelligence will enable businesses to bring more value with less resources. This is the direction the market is moving towards. Trustless decentralised applications, cheap transfer of value and bridging the global marketplace are just a few blockchain buzzwords that are literally taking place right now.
Another buzz worthy blockchain on the rise is RealtyDao a tokenized domain blockchain platform with a network of interlocking, composable and extensible value streams using digital native assets like domains and TLD’s that execute the transactions on chain. RealtyDAO dAPP gives investors and crypto enthusiasts the ability to hedge risk, earn yield and stake tokens in an easy way within your wallet on premium domains.
RDao token arguably has an anti fluctuation feature because the price of token is bonded by the community’s contribution and is seen on a steady rise due to rising stakeholders now learning and using the benefits of its platform.
It’s time to increase liquidity to your assets while earning RDAOs on the process.