There are a lot of people who are panic selling at the moment because they fear that there will be a recession if bitcoin can even go down to $10K or less. This is the problem with retail investors mainly, for rich people it is an opportunity, and they do not sell in a recession. The recession or mostly the economic cycle of stocks going up and down is common and whoever is in the market for a long, they know that the market behaves like this. And thus rich people keep some money to buy cheap during this time which separates them from someone who is pretending to be richer.
Now you may say that since they are rich they can afford to lose and buy cheap. Not necessarily, as retail investors too can use this opportunity to buy. I am not saying that we should be putting all our savings into stocks or crypto at this moment. But we can start looking out for a good company or coin to invest in which we know will go up for sure in the future. Again do not keep all your investment in these risky assets. Start small, even if $1 per day is fine, try to go with the SIP route so that you can buy a coin worth $1.
If you are too conservative like me, then you can start putting into safe stable coins like HBD and then when you get the interest from it, invest that in the coin like Hive, in this way you are not losing your initial investment as well as you will be able to buy the assets for cheap. This is the most conservative approach you can take. Just like investing in dividend-paying stocks and then when you get the dividend invest that in stocks which you think are down now.
In my case, I am saving an extra $1 per day so that I can invest in Bitcoin and start it using the Dollar Cost Averaging route as well as continuing investment in stocks which I think are down and will explode in the future. In this way, I am not going much but the growth is awesome.
The rich might have a lot of money which they can afford to lose, but again we can too spare some money by cutting some expenses everyday so that we can invest and become rich too.
