Join 79,070 users and earn money for participation
read.cash is a platform where you could earn money (total earned by users so far: $ 587,954.34).
You could get tips for writing articles and comments, which are paid in Bitcoin Cash (BCH) cryptocurrency,
which can be spent on the Internet or converted to your local money.
Takes one minute, no documents required
What to do when the market crash is happening - a HODLer guide
Some of my friends started three days ago to exit in stable coins. Now they are happy. I know they could have right (and they did), but I'm a holder, so I am not sad if my portfolio is decreasing for the moment, but a little envious a didn't have the guts to sell (at least) a part of my portfolio to buy it back with more than 30% gain. But if I will have the opportunity again, I will still stay and make no move, because I had more than 5 situations like this when I sold and then I couldn't jump in the train again and I lost many, many X-s.
So, that's it!
We are here - staying. If you have strong hands (the opposite of weak hands) - you'll wait and wait, even the coins are going even deeper. All that matters is the fundamental of the project: if it's good, sooner or later, you have your money back and even more.
There are at least 3 big scenarios now for anyone of us:
You sold early and now your ex-portfolio is less-valuable than the moment you sold
If you are sure about your projects and they have strong fundamentals, you just need to buy it back with a nice discount. Good opportunity for increasing your bags. Simple as it is.
You sold at the most least favorable moment - when the coins were in the deepest sh..t and now the price grew by 20-50%
Now, your situation is the worst. But for the moment. We can have two situations for the next period:
the market is recovering:
now your are in a really unfavorable state: maybe you can enter in the same coins and accept the diminishing of your bag or you can jump in other coins hoping to recover your loss (attention - choose wisely, because the new coin could go down as well)
the market is going even deeper - then you will get into the situation no.1
You are a holder
that means you didn't sold. You are safe regarding your crypto bag, but uncomfortable because your portfolio value decreased - more or less.
In this case, if you can, I will choose to make a DCA (dollar cost averaging) and buy more coins from your choices and have in that way a smaller price/coin than the first moment when you bought it (if it was a bigger price than the actual). For example, I bought some ORAI (which I believe is a good project) at 30 $ (for long term, not for a short trade). I will buy the same quantity at 12 $ to decrease my average to 21$. A decent price, I could say.
What could you do if the market is going even deeper? Continue to buy at a smaller price or wait.
Remember, if your project is good - the value will increase in time at a bigger size than before the crash.
This is not a financial advice, anyone should decide for himself after a strong research.