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A few days back we had a massive dip in the price of Cryptocurrencies. Bitcoin came down to almost 41k in the dip and many people thought this might be the end of the bull run. I also thought the same for a moment because we are having good growth on all the coins for quite some time. I understand there are many new investors coming inside the crypto world but at the same time, we cannot have all the coins pumping continuously right.
Well, I'm not against pump but at the same time, a market that goes up and down is the healthy market. I understand we had so many ups and downs but the one that we had a few days back was massive and I was able to see everything red on Coingecko. That's when I thought it will be a great opportunity to purchase some coins cheap. Either as a short-term trade or for long-term investment. Below are the few coins I bought during the dip.
I always have my eyes on polkadot. Not because I believe a lot in this project but because there is a huge FOMO around this coin and it also proved to be good in the last year. The first time when my friend bought this coin, the price was around 3$ and he pushed me really hard to purchase this coin back then. I did not have enough liquidity and I was afraid to enter into a coin that was pretty new to the world. He still insisted. He entered around 3$ and after so much hesitation, I decided to enter at 5$ and 10$ mark.
We can see that the coin has pumped hard in the last year and has also reached an ATH value of over 50$. As I have my investment here, I always keep an eye on this coin. I wanted to have a whole number in my holdings and that is why I decided to purchase this coin again during the dip. I bought them now for 27.5 dollars and my target for this coin is 100 dollars and I would exit totally. I made this trade on Binance and I have pushed what I bought into Binance earn which gives me close to 14% APR. Maybe that is one of the reasons why there is a huge demand for this coin.
This was my next purchase. I keep hearing a lot about this coin and this blockchain. I got my first exposure from Khal on the Leofinance trade chat channel. People talked about how they booked profits by purchasing them during the early days. I was watching the price of this coin for a very long time but now I thought maybe this dip can be a good opportunity to purchase and hold a little.
Not much but I bought around 100 RUNE for close to 7.5$ per coin. My target for this coin is 10$. Yeah, I really want to hold some for the future but right now as I used all my stable coins during this dip, I want to just book profits. Maybe let me just hold around 50 or 25 and sell the remaining so that I get my investment back.
I always wanted to keep some BNB in my wallet. I did not get an opportunity. Even though the price was fluctuating very well even during the normal days, I wanted to purchase some BNB and keep it in my wallet. I have no plans to sell them as of now. I will probably hold them for some more time and even think about increasing the amount of BNB I'm planning to hold for the long term.
When a dip happens, I usually purchase Hive but this time the price of Hive is way too high and I was a little hesitant to purchase Hive. The main reason was that if this price goes back below 1$, I will have to wait for a longer period of time to make a profit out of my purchase. Let's see how the price of Hive stays for another few months and I will start trading Hive after that.