Those last days and weeks have not been very optimistic for cryptocurrencies and especially when you give a look at their prizes.
But when many people are panicking, I think they should not. Here is what I'm currently making when cryptos are falling, and why I think my accumulation strategy is the good one.
"Not sold, not lost"
You may have already heard that sentences if you have been in the crypto environment for a while. And as every famous proverb, I think there is truth in it, but not at 100%. Indeed, theoretically, when your assets are not sold, they are not lost. With solid project, such as $BTC or $ETH, I use to think that this proverb is correct, because the value of the token will be much higher in the future (or at least it is my opinion) and your losses are only temporary and virtual. You need to psychologically work on yourself if you're afraid of losing everything, that also may be because you didn't invest money you're able to lose, which is probably the most fundamental rule ever.
Therefore, for shitty coins, or maybe coins with less hype and that have been overperformed by concurrents, you may not see your coin at his peak ever. And believe me, I got some coins in my wallet that can be considered like that, so I know what I'm saying haha.
"Buy the dip"
Once again, you already heard it, for sure. And I could even bet you heard it or have read it a short time ago. My opinion is that crypto community is very implied in everything they do, but is also excessively optimistic and pessimistic following the trend. And only after a "little" 5% decline, you will hear "buy the dip" everywhere on the social medias. So, here, with the more or less big down the cryptocurrency market has known, I think it is pretty fair to say "buy the dip".
Of course I didn't mention it but buying the dip means to take advantage of the low prize and buying more cryptos before they go back up. The problem is that even if you are a good trader we're never sure it is the "dip", that's why you need to use the DCA strategy (Dollar Cost Averaging). Make some DCA during years and you'll be able to purchase lots of dreaming things in the future.
Compensate by staking and lending
While the market is bearing a lot, you need to protect yourself and act as much as possible to achieve your financial goals. If you just keep storing your cryptocurrencies and let them go down while being depressive due to this situation and drinking wine to forget, you missed something. Even when the market is up, but it becomes more important when it is down, you need to earn passive income with your assets. You have multiple options : lending and staking are the most famous and you should use those levers to make your portfolio grind.
If staking protocols are too complicated for you, or include cryptos you don't have or want, leave it behind you and use lending with Celsius Network. It is a safe company giving back really good rewards with high rates. You're sure to be able to lend the cryptos you want there : Join Celsius Network using my referral code 170880d247 when signing up and earn $40 in BTC with your first transfer of $400 or more! #UnbankYourself https://celsiusnetwork.app.link/170880d247
And you, what is your strategy during this down of the market ?
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Yep. I think it is important to have a positive attitude and remember all the reasons we invested ina particular coin or token, and add more as it is an opportunity. I have also been adding more to Celcius, because it is just another great way to add.