More than 2 months ago, I started to explore the world of cryptocurrencies and I never thought, that I would live this situation 4 days ago, bitcoin continues to fall at an impressive speed, from that 05/05/2022 where it oscillated at USD 39,405 to today 09/05/2022 which is located at USD 30,719.
Only 4 days, millions of dollars lost and it seems that the fall has no end ..., then comes the obvious question, what do I do with my cryptocurrencies?
In my little experience, I have spent several hours reading articles on the web about the current situation, I see 2 primary options that lead to other options:
A.- I get out of the crypto market, liquidate all my assets and come back when the situation calms down.
B.- I continue in the crypto market:
So if you decide to continue here, what can you do in the face of this situation, I think the following possibilities open up:
1.- Buy cryptocurrencies at a very cheap price, especially Bitcoin and ETH, hoping that in the short, medium or long term, their values will rise again (holdear).
2.- Take refuge in stable currencies, I have seen that it is recommended to convert your assets to USDT, UST (attention currently is declining in value), DAI, BUSD and USDC, are the best known.
3 .- If you like risk and do not want to lose the rhythm in trading, you can try to make small operations in periods of 5 minutes, it is not recommended to operate too long time lapses, due to the volatility of the market and its clear downward trend.
CONCLUSION: Personally I plan to continue investing in the cryptocurrency market, I know it has been difficult in the current context, due to the terrible downtrend and low profitability in relation to previous times, it has lost attractiveness for investors.
But even so, I still bet on cryptocurrencies, the reasons:
1.- The world of investments I have known thanks to cryptocurrencies and it is the market I know the most, so it is too risky to try to operate in another type of market.
2.- We have to understand, the nature of what we are investing, basically they are assets, with a high volatility, with very high ups and downs in a short period of time, consequently, currently we are simply going through a bearish stage of the market, we are not talking about the end of BITCOIN.
3.- Finally the most important reason is a question of faith, I believe that the project and the ideas behind cryptocurrencies are the future and in particular a future that I want to bet on, for example the decentralization of finance can change the world.
To finish, I must recognize that I live in Argentina, here we are used to live in an unstable way, where every day that passes our national currency, decreases its value in relation to the Dollar, so that BITCOIN loses more than 10% of its value in 4 days, is something that here we can deal with in "psychological" or "emotional" terms haha.
Alright, that's all. I hope you like my post. See you next time.
Ahh if you trade differently or have been recommended to trade differently than the one I described in this post, in this bear market environment, please comment, so we can learn new survival strategies haha.
DISCLAIMER: I am not an expert. I am just starting out in this. I don't give investment advice (nor do I pretend to). I just explain in this blog my personal experience in the world of cryptocurrencies from a practical point of view and oriented to anyone can learn without prior investment and without spending a dime.
If, at your own risk, you decide to invest in any of the products mentioned here, do it always after having studied and researched it well and consulting other sources with other points of view. Do not invest money you may need. Investment in crypto-assets is not regulated, it may not be suitable for retail investors and you may lose the entire amount invested.