Investments in bitcoin and other altcoin have tumbled upto 20 ,30 % in the past few days and many of you have large sums invested in them.The first reaction would be to search the web and watch vedios from people telling how this is nothing and that you should start accumulating more and pretty soon prices will be back up and reaching to the moon,but most of these people themselfs have large sums invested in them so it is in their best interest to keep you invested.
1.So whats the wisest thing to do ,simple bet with cash you can afford to lose ,and by afford to lose i mean even if you lost that much money it will not affect your standard of living meaning you wont have to take a second job,you wont have to offer yourself or go begging to people to lend you, that sort of money.
If you have a lot invested sell them tell you reach that comfortable level of money you can lose.
2.Wait for the market to stabilise ,trust me nobody can predict the future if we could we would be having all these stock crashes and big names like Lehman bros filing for bankruptcies . I mean these are big corporations with smartest individuals leading them if they cant predict whats coming there way who can???.
After the market stabilise (which may happen tommorrow or one year from now)buy .Here also rule no.1 applies
3.Next thing you can do is diversify,you dont know which coin will be the next big thing and most experts dont so select a lot of ten coins after doing your proper research and buy them.
By research i mean look and see if they have any specific advantage or are they mere copy cats of existing ones (some are mere copy cats with no improvement s from bitcoin and are merely get rich quick schemes -for developers ie鈽猴笍)
So after you select your shortlist of 10 or 20 coins buy them for the long term not less than 2 or 3 years and forget about them .
Now as a note i dont think that cryptocurrency technology will simply die out,its an amazing tech with great advantages and even if the governments try to stop it ,it will still remain as it has many advantages.But which crypto will be the next big thing or things i am not sure ,so the only thing you can do is spread you investments
In a sizable pool and even if one of these become the next big thing you will profit.
(A mere 100 $ invested in bitcoin in 2010 is now worth more than 22million)馃槉$$$
So you see the risk justifies the rewards so rather than be sorry it pays to have a few bucks invested in them, remember many people are now wishing if they had invested atleast a coffee worth of $ in bitcoin in 2010.
If it were me i would put 5% of my investment capital on these risky assets with 0.5 % in each coin, i am a small time trader 5% for me equals about 2000.
Dont be wishing start doing ,but also dont be greedy the latter is very important .
Also crashes present good opportunities to find awesome bargains.
I presented to you a no non sense way of profiting with minimal risk . Happy investing
