Would you rather save and receive your salary in Crypto? Despite the market is down about 75%.
Would you rather save and receive your salary in Crypto? Despite the crypto market being down about 75%.
I know this might not be the best time to ask this question due to the fact that we are in a bear market and the price of crypto is down like crazy, the crypto market is down more than 75% from its all-time high, and honestly speaking I feel for those who but Bitcoin at $60k and above, who don't have very strong trading psychology and is their first bear market or first time investing in crypto, who do not know that the unrealized losses they have accumulated since the crypto market crash will not be an actual loss if they don't close their trades and can be patient enough to hold until the market recovery fully, they will and can get their money back with even extra if Bitcoin price pump above their initial investment, although it won't be easy though or a smooth ride, but would be worth it eventually.
On the other hand, anyone that had held their coins this long without selling them off should have some knowledge of trading psychology but if they don't and are already down 75% of their initial investment mostly if it is in spots trading where you don't lose or get any margin call or get liquidated unless you close the trade by yourself, so on that not you are good and it won't be advisable to sell off now and lose 75% of your money invested, which is why it is always advisable to invest money you are willing to lose, but there are so many ways you could have avoided holding this long if you know you don't have the mental and emotional capacity to handle a bear market not to talk about a prolonged bear market like the one we are experiencing right now.
For your mental health and to keep yourself mentally sane when you know you can not handle the bear market, you would have traded with a stop loss or tight stop loss, that will take you out of the trade when the market has gone down to the level you can not handle. but it is advisable you HODL or accumulate more now during the bear market before the bull market comes.
My Opinion On Whether To Save My Money And Receive My Salary In Crypto Or Fiat
Now to answer my question asked above, after all I have said in my article already, I would always choose to save and receive my salary in crypto over fiat anytime any day and situation, whether in a bear market or bull market conditions because inflation would always reduce the value of my money if i save it in fiat currency and it won't make me any extra money too. so from now and till forever, I will always remain a crypto guy.
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