Don't be Afraid of the Crypto-Roller Coaster Effect

in LeoFinance3 months ago

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I wοke up this morning and saw the markets in Red. There is a "term" we crypto lovers use for that particular dump and it's called Bloody Mondays. I bet you all heard this somewhere.

Anyway, the majority of you know that this isn't a big deal as the prices already got a little bit up again. What about the new users though? How are they dealing with it?

Before i start talking about that, let me tell you what exactly happened with the prices just in case you are not completely aware of the events that took place.

For this, I'll talk in euro terms for all the people who are checking the prices in euro. Through the evening (at least in Greece and west Europe) bitcoin went down from 44600 to 39000 euro and eth from 1500 to 1080! Even Leo and Hive had a similar decrease, at the moment that i checked LEO from close to 80 cents went down to 59 and Hive from 33 cents to 26.

That can scare the hell out of any crypto newbies and trust me when i am saying it, there are too many out there! For, example 2 friends called me and one texted me about this and they were scared as hell!

They thought they would lose everything and were ready to cash out. Before they start talking about cryptos being a scam and such, i laughed and told them not to worry, everything will be all right, you won't lose your money.

I also told them that they gonna see many similar roller-coaster cases but they need to keep their cool and make their research before calling me and if it's something big i will text them.

Now i know many people belong to that category and out of fear they most likely gonna sell anything, you in order not to lose anything. This is a rather common phenomenon because the crypto market is rather unique.

Pumps and dumps like that can happen every day so there is nothing to be afraid. Instead, try to do you research first and see if there is something that's going on and is the reason why the prices decrease a bit.

Let me give you an example of what i mean. If the government announces a new regulation that is against cryptos and it makes the life of everyone a lot more difficult then it's highly possible to see a lot of red and that's justified in a way!

Finally, for all of us, red days and bloody Mondays like this one is actually a sales day that you can buy cryptos with a discount! So fear not my brave ones and accumulate more and more cryptos!


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Filotasriza3 (LeoProfile)
Filotasriza3 (HiveProfile)
Filotasriza3 (SteemitProfile)

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Posted Using LeoFinance Beta

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I was pretty much all pushed in today when the bottom started falling, otherwise I would have been buying like crazy. Crypto is a wild and crazy market, better have a strong stomach.

Posted Using LeoFinance Beta

you will get used to it trust me :P

!WINE

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Congratulations, @filotasriza3 You Successfully Shared 0.100 WINE With @captaincryptic.
You Earned 0.100 WINE As Curation Reward.
You Utilized 1/3 Successful Calls.

wine-greeting
Total Purchase : 16310.839 WINE & Last Price : 0.280 HIVE
HURRY UP & GET YOUR SPOT IN WINE INITIAL TOKEN OFFERING -ITO-


WINE Current Market Price : 5.990 HIVE

another day in the office ...

as usually! :P

!WINE

Posted Using LeoFinance Beta


Congratulations, @filotasriza3 You Successfully Shared 0.200 WINE With @iliasdiamantis.
You Earned 0.200 WINE As Curation Reward.
You Utilized 2/3 Successful Calls.

wine-greeting
Total Purchase : 16310.839 WINE & Last Price : 0.280 HIVE
HURRY UP & GET YOUR SPOT IN WINE INITIAL TOKEN OFFERING -ITO-


WINE Current Market Price : 5.990 HIVE

I'm learning more and more how to not get caught up with the rise and fall of HIVE prices. It gets harder and harder though as my account grows and I notice the most miniscule change in HIVE price greatly affects my estimated account value. Great reward doesn't come without a little risk though I guess.

Posted Using LeoFinance Beta

if you use Hive for your daily expenses then yeah you can be affected. If you don't use Hive for that though, simply hold until you have enough to change your life!

Posted Using LeoFinance Beta

In order for prices to increase they need first to go down. And I think that this way we might filter some of the investors without DYOR or that they don't know about what crypto markets are all about.

Posted Using LeoFinance Beta

that's true but that's also a loop for now. Some of them may go away and others like them will follow

Posted Using LeoFinance Beta

Yeah right, the exchanges all close down every time! I’m getting my money and leaving!

and you gonna leave me alone? :P

Yeah sure! I was just posting my opinion?