The sell-off on the crypto market continues: the most important cryptocurrency, Bitcoin, has risen above the $30,000 mark again. However, the digital currency is still in the worst position it has been in a year and a half. Traders and investors have lost billions in the past few days.
The excitement is great. All investors who have bought Bitcoin since the end of 2020 and are still holding it are in the red with their investment. 40 percent of Bitcoin investors are in the red. In the last week, Bitcoin has lost almost a third of its value. The situation is even worse for other cryptocurrencies.
1. Think long-term
A long-term investment horizon is the best prerequisite for successful investing, as the “Bild-Zeitung” writes. The important thing is: Rely on the globally coveted cryptocurrencies such as Bitcoin. Bitcoin has crashed again and again. So far, however, he has always recovered. Bitcoin’s plus over the past three years is still bold.
2. Stay calm
As with investments in shares, it is central to keep calm, as the Beincrypto.com platform writes. The crypto market is an emotional roller coaster ride. Therefore, it is important to keep a cool head and not neglect the psychological aspect of trading and investing.
3. Bitcoin belongs in every depot
Bitcoin is the leading currency of cryptos. It is currently far from the all-time high. Therefore, according to experts, it makes sense to afford Bitcoin. It therefore belongs in the depot of everyone who wants to position themselves broadly with their systems. Bitcoin is still the measure of all things.
4. Don’t risk too much money
The billions in losses over the past few days should actually be warning enough. And yet, time and time again, investors allow themselves to be guided by greed. The same applies to stocks as to cryptocurrencies: Don’t risk too much money. Because the fluctuations of Bitcoin and Co. have to be endured. Otherwise you should rather keep your hands off it.
5. Save according to plan
The best way to avoid the fluctuations and temptations of cryptocurrencies is to follow a strict savings plan. Anyone who invests 50 francs in cryptos every month will not be disturbed if there are major turbulences again. You can cope with 50 francs. Over the years, however, a nice chunk has accumulated. (pbe)
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