WHAT TO DO WHEN THE MARKET IS DOWN?
I understand that you are very confused right now because the market is down, especially for newcomers 😇
=> A strong market downturn like this has happened many times and is completely normal; when the market rises, it must adjust to be more sustainable.
• If anyone has already held good coins and bought them, now is the time you need to research more about that coin, ask yourself why you bought it, how long you will hold, what your target is, which areas you will DCA, and what scenarios will lead you to cut losses.
• Personally, as someone who has been in this market for nearly 3 years, I rarely cut losses based solely on price, but rather on the internal situation of the project. If the project is doing well and fulfilling its promises, but the market adjusts, then for me this is an opportunity to buy more coins at a low price, gradually buying in, then waiting for the market to recover and profit, because no one knows where the bottom/top is.
• I also don't advise when to cut losses, because I don't know the internal situation of the project you are holding, if I advise cutting losses and that coin skyrockets, I will become a victim of criticism. But I bet that if you buy something you don't understand well, you will cut losses sooner or later :)))
👉 To summarize: Market down => You find out more about the project you bought to strengthen your HOLD/DCA belief => Turn off the app and do something else => If it drops further, look for a good price range to DCA again, if it rises then take profits, if the project looks weak then cut.
If there are too many projects in the market and you don't know how to orient yourself, join the TradeCoinVN Telegram group I left in the comments, every day the admin will analyze the market for you to reference, but the decision is yours 👇
If you are still unsure about how the project you are holding will perform, comment the project name, the team will analyze it for you 👇
• #Binance
• #BinanceVietnam
• #BinanceSmartChain
• #BNB
