I see a lot of fear... which is normal. It's not pleasant to see your portfolio balance going down by 30% in 3 months (for those trading in Spot) or being liquidated in a few hours (for those trading in Futures).
But having started to invest in crypto back in 2016, there are a couple things that I've learned:
1. When the market goes down, you do NOT touch your portfolio. You HOLD to it. Or you will regret it later once the market goes up again. Remember: In Spot Trading, you only lose from the moment you sell at a loss.
2. Do not take very seriously many "experts" opinions and don't let them influence your decisions.Nobody can predict when the market goes up or down, only speculate. One thing I'm sure of, it won't go down forever!
In conclusion, it's exclusively up to you to hold your portfolio. Be patient, control your emotions. Not everyone will win, many will lose. But the strong minded have a higher chance of success, I believe!
And by the way, get used to taking profits when the market is up. That money will be useful in moments like this.
Interesting fact that all the people complaining that they've lost all their funds overnight, are those playing with futures.
They're even saying that Binance is a scam but the truth is: greed led themselves into this situation. And it wasn't for lack of warning!!
Experienced and patient investors playing with spot, still have their bags intact and are calmly waiting for 2025.
Even if your balance went down by 30%, don't panic. The market is made of ups and downs. Only the strong minded individuals will be compensated. It's Darwin's natural selection doing its work.
If you still have fiat now to fill your bags, congratulations! If not, still congratulations! Just hold on to your spot portfolio and wait for the rewards.
On the 21st of May, I have recommended you to add Fida to your portfolio. Today it pumped 45 percent. Iris and Lever will also pump in the next couple weeks.
You better ask yourself this question. Now!!! Many people didn't do it during the last bull market and ended up with nothing.
Setting a goal is of extreme importance when it comes to take your profits. We might be in the imminence of a bull market which will last until 2025. Where will the peak be, nobody knows! So set your goal and take the profit when the time comes. And do it without regrets, even if the market continues to go up after you withdraw. Then wait for the next bear market and invest it again if you wish so.
Be patient, believe in the utility of crypto in our present and future. Don't look for the quick profit and most of all, don't be too greedy!
Some common mistakes that you don't want to do during the #AltSeasonComing :
1. Invest more than you can afford
If you're rushing into selling your tokens, even at a loss, you might be doing something wrong. You're probably putting more money into crypto than you can actually afford to. This will lead you to bad decisions when you're desperately in need of money. Only allocate into crypto the money that you won't need for your daily life or for your monthly expenses. DO NOT PUT ALL YOUR SAVINGS INTO CRYPTO!
2. Being emotional and impatient
It is good to read about the market forecast and being informed. But remember, nobody holds the full truth and nobody can predict the future in a precise way. Always trust your instincts, stick to your plan and wait for substantial profits. BELIEVE IN YOUR PORTFOLIO!
3. Putting many eggs in the same basket
If you don't diversify your portfolio, sooner or later you'll pay the price. Allocate your money into at least 20-30 differents tokens with different narratives. For example, I am not an advocate of meme coins. But still, they represent 5% of my portfolio. DYO RESEARCH AND CREATE A DIVERSIFIED PORTFOLIO!
Everything indicates that this might be your last opportunity this year to purchase some tokens at a very low price.
Altseason is coming and with it, huge profits. This might last for approximately one year, with a lot of up's and down's of course!
My 5 golden rules for the upcoming bullrun:
1. fill your bags 2. be patient 3. don't stress with the red candles 4. gradually fill your bags when the market goes down 5. gradually take profits when the market goes substantially up
Why should you always add some small market cap tokens to your portfolio? Well, because despite being very unpredictable and lead you to total loss, they are also the ones that can easily make you 100x profit.
Here are 3 gems that I recommend you to consciently add to your portfolio:
1. $FIDA 2. $LEVER 3. $IRIS
By "consciently" I mean: Never put too many eggs into this basket. Small market cap (less than 50M) tokens should represent 5-10% of your total portfolio.
I've bought 4 BTC for 1200$ back in 2016. The bad news are: Shortly after, I've sold all 4 of them for 2000$, happily cashing in 800$ (which I've thought was quite good at the time...).
Crypto is all about being patient, being informed, believing in your portfolio.
I've learned my lesson since 2016 and here I am now. Waiting for an imminent bullrun and hopefully to get a well deserved return after waiting 8 years.
My two advices for beginners:
1. Never rush into selling 2. Never spend more than what you are willing to lose.