Whenever anything trends ask yourself, “who benefits from this?”, and let me say it usually isn’t you, the audience.
You don’t have to understand everything about Crypto or stock markets in order to do okay trading passively in them. But it helps to know a few very basic principles:
- Buy low, sell high
- Dips happen, they are perfectly normal, all is not lost
- Do not panic sell! HOLD, HOLD, HOLD!
- Do not invest more than you can ever afford to lose
Keeping those in mind, who DOES benefit from causing a panic scene on a dip? Those who have been waiting for said dip in order to buy in at low, low, low cost. Yes, that’s right, those people on socials who are hashtagging panic clickbait garbage have every single reason in the World to want you to panic sell, or avoid buying in altogether right now, because the more people selling, the more Crypto available on the market, the larger the dip, the lower the cost for them to buy a ton of Crypto super cheap, and sell when the inevitable happens, it goes back up.
And it will go back up. Crypto isn’t going anywhere anytime soon. It will continue to grow, at least for the foreseeable future. Now is a good time to NOT panic, and if you can swing it, BUY!
Why trust me? Good! You SHOULD ask that. I, personally, have been trading Crypto for about 6 years, and studying Crypto trends about 9 years. But, if you want more reason to listen to me, my average ROI is about 33%.
All I do is follow the list above. I buy low, sell high, don’t panic sell, and don’t form an attachment to the money itself, as far as I am concerned, until it is time to sell again, that money is non-existent. And when it IS time to sell again, I go one further, I take 50% of my Crypto earnings and drop ‘em into the good ole stock market, usually on high paying dividend stocks so they can earn me even more, and that other 50% I put back into Crypto, on the dips. Drop it into a savings account and garner interest while you wait for that next dip to come around. With a little patience, and time, you can very easily and passively accumulate a small nest, or a large nest, depending on how much you can afford to risk.
And I know, this all sounds scary and risky. It’s not. Not if you hold. I literally started with $15 in Bitcoins, sold it off for about $75 a few years later, and it snowballed from there. That $15 has made me thousands and accumulated me a decent stock portfolio. Anyone can do it, if they follow the guideline above.
But I keep hearing it is a Ponzi scam?! No. NFT’s are a goddamn Ponzi scam, Crypto is not. It’s a tangible market; you aren’t selling to victims while knowing that is not sustainable. Crypto can and is used as currency in MANY places, and that list grows every single day. It is essentially digital cash. NFT’s are not.
Now, because I don’t want to be irresponsible, I will add that there are geo-economic concerns around Crypto, and they are worth learning about. But again, question the sources. Does it benefit you to die on that hill? Or does it benefit someone else? Is a Crypto boycott ever going to take hold? Not likely in the immediate future.
Buy, or don’t buy, but whatever you do, don’t buy into mass marketed panic.