I've been holding small cryptocurrency portfolio for a while now. I am not to actively trading it, just sitting on my hands and letting it run. This stuff is so ridiculously volatile that every pnl swing that would most likely cause me to hit out and evaluate if I was trading equities here is like 'meh.'. But then this happens:
My initial thoughts - this is fucking stupid. I've never done any actual research or had any plan in case of thing like this happening, but my first instinct was to sell that thing and buy it lower later. It was very similar to every algo news spike I saw and it almost always comes back down. Quick research revealed that graphic:
Gordon Gekko: [calms down] Dump it.
I did, I hit the bids above 30300 and was ready to buy it few days later.
I got back in around 17500-18500 using advanced formula of 'portfolio is up this much, eth is up that much, propy should be up this much'. Plan the trade, trade the plan. Or improvise. Whatever works.
