We were all happy and filled with hope as the cryptocurrency market started looking to trend towards the next phase of the bull market. Bitcoin, Ethereum, Cardano, and even Dogecoin were starting to break resistance and making higher highs.
Suddenly… the uptrend starts to reverse, and we find the market starting to go back down…
Elon Musk reacted to the recent downtrend with classic, somewhat hilarious, memes.
It seems that the internet is blaming this recent drop on Musk and his tweets, even though his tweets were AFTER Bitcoin started to drop.
Did you, like me, learn anything from these past few weeks? More importantly, did you apply what you learned? When it comes to dips like these, always remember:
-Accept responsibility. Markets (both stock and crypto) can and will always be manipulated. It is up to you (not someone else’s tweets) and you alone on how you react and handle your investments.
-Invest only what you can afford to lose
-Always take profits. Don’t get greedy.
-Set stop losses.
-Buy. The. Dip. Only invest in coins that have strong fundamentals. If you cannot buy the dip, do not panic sell, just be patient and hold.
It is my belief and personal opinion that we are still early in the market. Just be patient and remember to stick to your personal investment strategy.
Thank you for your time! If you found this article interesting or helpful in any way please let me know in the comments below. Feel free to follow me for more articles on how I invest or how I earn other free rewards such as crypto, stocks, or gift cards.
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*Disclaimer- I am not a certified financial planner/advisor, certified financial analyst, economist, CPA, accountant, or lawyer, or anything important for that matter. The contents of this article are for informational, educational, and entertainment purposes only and do not constitute financial, accounting, or legal advice. Always do your own research.*
