For some people, price dips are the end of the world, or are they? Many in the crypto industry thing that the number is only supposed to go up. Sorry to tell you, that’s not how the markets work.
When you are in a bull run, you will get price corrections and areas of consolidation. These are times that those with true conviction will be buying i stead of selling.
Situations like we are seeing in the Bitcoin and crypto markets today are really nothing to be worried about, even if you bought at the top and are down as of right now. That just means that Bitcoin is on sale! Who doesn’t love a sale?
When shopping for an item to purchase at a retaip store, you are going to look around in many cases and see if you can find it cheaper. The best is when you find something on clearance. Many times people will wait for sales to buy up as many items as possible.
For smart and savvy investors and traders, the same goes gor financial assets. When prices drop, thats when you meed to be buying, but somehow people cant figure out this logic and whine about losing money when they buy at the top and then some idiots will start screaming the word scam! And that comes from their oack of knowledge of how markets work.
If you are in the game for the long haul, you should be aware that dips in uptrends are great times to buy more before the next leg up. Even if its yiur blood in the streets, you meed to suck it up, and keep buying, because these dips won’t last forever and the price will head back in the right direction, you may just need some patience.
So don’t anonymous people online scare you out of your positions, stick to your guns and keep running wirh the bulls, taking every opportunity you can to jeep scooping up cheap bitcoin along the way!
So just know, if you are selling your Bitcoin because the price is dropping, I am trying to buy as much as I can, along with the big boys on Wall Street, so thank you for the cheap Bitcoin!
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Many of my cryptocurrency related articles as well as trading articles can also be found on my crypto research site, Coin Logic.
I also post trading chart ideas on my TradingView Profile.
The information in this trade journal is for educational purposes only and should not be considered financial advice. Please consult with a qualified financial advisor before making any investment decisions.
