How To Survive The Panic In Crypto: A 5-Step Guide To Get Through The Current Crisis

6 62
Avatar for its_arsl
2 years ago

We're living in exciting times here in the crypto community…the last few weeks have been a good roller-coaster ride of peaks and valleys. I've never seen anything like it, and I'm here to tell you that keeping a cool head during this time of uncertainty is essential. Not letting emotions take over when markets are moving so quickly is critical. It is easy to panic when something unexpected happens because we are all human. If you have taken a loss due to overly risky moves, don't be too hard on yourself — I believe every mistake we make along the path adds to our experiences and makes us all the better. But there are things we can do to prevent panic from taking hold during times like these, even if we haven't done anything wrong.

But it's important not to panic. This is just one of the many cycles that cryptocurrencies go through. The market will recover eventually, and you want to be ready when it does — so here are five steps you can take to survive this crisis:

1. Don't panic

The first thing you need to do is stop panicking. This might sound obvious, but it's challenging to do when things look bad. When markets fall, people often make rash decisions based on emotion rather than logic or reason — which can cost them dearly. So take a few deep breaths, count to ten and relax before acting on anything.

2-Don't sell at the bottom.

Don't sell at the bottom. If you're already invested in cryptocurrencies, don't panic and sell all your coins at a loss because it's easy. The same goes for short-term investors - don't just sell everything because you think prices will go lower.

Instead, wait for stable periods (like now) and try to buy some more cryptocurrencies with any available funds. You'll sleep better knowing that you didn't sell everything at the bottom!

Diversify your portfolio. If you only have one or two coins in your portfolio, then you might as well just sell them all and switch to fiat (US dollars). This way, if one coin drops 50% in value while another rises 50%, you'll still lose total weight on your investment despite having some winners mixed in there too. For example, if you have $1000 invested into BTC and ETH combined, then if both coins drop 50%

Step 3: Don't Gamble With Your Investments.

The cryptocurrency market is volatile and unpredictable, but that doesn't mean you should gamble with your money. Most people who invested in Bitcoin did so out of the belief that it would continue to grow, but the truth is that this isn't always the case. Cryptocurrencies can plummet as quickly as they arise, and even if you think you know what you're doing, there's no way to guarantee success.

If you've already invested in crypto and are now looking for ways to get through this current crisis, take a step back and don't gamble with your investments. Instead of buying more coins or tokens in hopes that they will increase in value, consider all your options before making any decisions about your money.

Step 4: Stay calm

The first step to surviving the current crypto crisis is to remain calm. The market is volatile, and it's common for investors to panic when there are sudden drops in price. The best thing you can do is keep calm and not rush into any decisions.

Step 5: Do your research

The second step is to do your research before investing in a cryptocurrency or ICO. Many new investors jump into the market without doing their homework, often leading to poor investment decisions and losses. Doing your research can avoid making bad investments or falling victim to scam projects.

Bones advise.

1-Buy dips!

The first step to surviving the panic in crypto is buying dips. As long as there are buyers, there will be sellers. If you have been following cryptocurrencies for a while and have made money from them, then now is the time to put your money where your mouth is.

You need to be disciplined; don't buy just because everyone else is doing it. You should only invest what you can afford to lose — it's gambling, after all!

We recommend buying dips because it allows us to get more coins at lower prices than what they were previously trading at (or potentially even higher). The other option would be to wait until 2020 when most countries start recognizing cryptocurrencies as legal tender or asset class — but who knows when that will happen?

2. Be aware of the risks involved in investing in cryptocurrencies

The second thing to remember is that cryptocurrency investing comes with a high level of risk and volatility, especially during times like these when the market crashes or goes into free fall. By being aware of these risks, you'll be better equipped to deal with any challenges that come your way during this crisis.

3. Determine if this is really a crisis for you or not

Is this really a crisis for you? Maybe not! If you've been following my advice from earlier posts, then chances are that most of your coins are stored safely offline in cold storage wallets (see step 1), so even if

conclusion:

This is not the first time we've seen many cryptocurrencies virtually disappear overnight. Every time it happens, and the bears come out to play, a flurry of articles appears explaining just how bad it's all going to get. We have no interest in writing another one of those articles. Thus, what you're reading now is an attempt to strike a different tone that isn't quite as pessimistic. My advice: Don't panic.

5
$ 1.83
$ 1.72 from @TheRandomRewarder
$ 0.05 from @Roojoroojay
$ 0.04 from @Unity
+ 1
Avatar for its_arsl
2 years ago

Comments

The best time to invest in crypto is at the Dip, just like now the market is so down and is a good time to go into stakeable coins that have potential like AWC token. When you invest in AWC token especially now the price is low, you will be so calm by staking it. More info for staking - https://atomicwallet.io/staking

$ 0.00
2 years ago

From the past few months crypto just giving us the shock, now we are go through of it. Now it's strange thing for us to see the crypto in pumping mood 🤣

$ 0.01
2 years ago

wase ya article special app kaye liya hai 🤣 because i notice this thing that you are now so disappointed regarding crypto I know as you tell me in the previous comment that " I have nothing left to buy more crypto🤣" so inn sha allah solve hu jaye ga wo waqat bhi that bch 1660$ per trade hu rarha tha so hu jjaye ga pump muj dar hai ya 100$ see nichaye na chala jaye in case jata hai muja 10,20 hazar ka nuksaaan hu ga

$ 0.00
2 years ago

Yes, I won't. I will just wait for bch to pump.. Though I don't have 1bch yet but still hoping to have atleast 1 before it pumps up.

$ 0.00
2 years ago

same my also goal is to collect at least 1 BCH so they pump back to $ 400,600

$ 0.00
2 years ago

Hopefully it will pump back to that price soon. Last time I convert, the bch is $380

$ 0.00
2 years ago