I'm sure many of you out there will still have the fear of prices dropping down to new lows and then you panic sell your cryptos just to cut out your losses. Well, it's time for you to really do your own research!
If you're new and this is the first time you loss 30% of what you bought on a single day, welcome to the cryptocurrency world! If you came from groups of people who told you ways to earn quick buck from looking at very high risk projects, instill FUD in you that cryptos can go down to zero, it's time for you to get out of that zone and focus on the one thing that matters: fundamentals.
It's the same across any kind of investments that you make, whether if it's stocks, cryptos, commodities or real estate. Prices go up and down all the time. If you have fears everyday when you buy a certain crypto, then you're already buying the wrong cryptos. The right projects are the ones with excellent management, harmonious communities, efficient communication, consistent developments, and last but not least, able to help make the world a better place! The last point is so underrated and overlooked because many people I observed in social media are looking to cryptos as a way to achieve financial freedom quicker (or worse, to get rich quick), but they don't understand the technology behind and how they are meant to change lives and building up better and more trustworthy financial systems.
Let's take three cryptocurrency examples: Cardano, Elrond and Zilliqa.
Cardano: Great project, lots of potential, a very charismatic CEO that is constantly communicating with the communities via his personal AMAs, more mature community, stakepools that are mission-driven and maintained by the community, Goguen, Mary Hard Fork, African partnerships, Hydra, Ouroboros Omega.....
Elrond: Great project, consistently rolling out partnerships, an energetic Romanian CEO who is determine to have at least 1 billion people to have access to financial services simply via your phone or computer, conducted many interviews with a lot of institutions, Secure Proof of stake, sharding, >12,500 TPS, super low fees, Maiar, phase 3 staking on the way.......
Zilliqa: Great project, more efficient proof-of-work, sharding, multiple great and honest interviews and AMAs with the CEO on the media and Reddit, zilswap, governance, many partnerships with the likes of Xcademy & Switcheo, unstoppable domain, stablecoins for singapore and indonesia.....
and many more out there who help in making cryptocurrency a scalable, securable, interoperable and more efficient so that many people will finally realized how cryptocurrencies are disrupting the financial world. Why panic sell if you know that more developments are coming and there's a long-term linear or upwards exponential relationship between the token value and the development progress?
I'll give you a tip to market dips: Always treat a dip like a promotional offers that you see from shopping malls! 50% or more dips are like 50% discounts or Black Friday sales. 10 or 20% dips are like membership seasonal discounts for being a loyal HODLer. You want to know the difference between buying your favourite car or your favourite crypto at 50% off? Cars will depreciate in value the longer you HODL it no matter which car you choose, while cryptos will appreciate in value the longer you HODL it if you pick the right ones and stick to it. FOMO? Just buy a small amount of cryptos that you like, and then research until you're comfortable to buy even more at whatever prices you can get. My other tip is to always prepare some stablecoins saved in high interest savings account so that you can buy the dips little by little. Haven't sign up for a savings account? Try Celsius! Currently up to 16% APY on stablecoins with a $30 free bonus if you register, complete your KYC and deposit a min. of just $200 worth of stablecoins!
If you FUD again, just stick to a project that you believe in, research the company by reading articles, listening to what the communities say, watch tons of videos on interviews about the project and consistent AMAs (as much as your big brain of yours can take in), dollar cost average, buy the dips if you're lucky, and then last but not least, HODL until the day where you finally reached your financial goals and the world is already a better place to live in with the help of cryptocurrencies.