Hold on to your hats folks we are in for a wild ride! As you all know by now, as of September 8, 2020 the crypto markets are taking a torpedo dive into the great abyss. Well it's not that bad, but there are signs of upcoming market volatility. The sharp fall in cryptocurrency will likely lead to a bunch of hasty decisions by some coin traders. I don't mean the seasoned guys. They'll be fine. It's the new coin market traders who will most likely be in a panic. New crypto coin traders will be looking to save their assets as they watch their investment drop.
How can you not completely panic when you're on the bubble. What does it mean to be "on the bubble"? Being on the bubble in this case means you've invested just enough money to get into trouble. You don't have enough investment power to stay afloat during a down turn in the market like the one happening now. You're out there alone with no safe net and no one there to help. Being on the bubble is a terrifying place to be and will almost assure you'll make the wrong moves in the coin market. Trading crypto or any other currency is a game of patients, which most new digital money investors cannot afford.
It is very likely that we are going to see much more volatility in the crypto markets. With the election right around the corner and the stress of a possible forced vaccines, many people are losing their focus. Information overload is causing people to make forced decisions they would otherwise forgo. And now on top of all the other issues in your life you have to worry about losing your Bitcoin, or other digital money. I know, it's not fair, but this is the reality we live in at this moment. Not everyone is going to come out of these market down turns with full pockets. Matter of fact most new traders pockets, will be completely empty.
Who knows, maybe I'm wrong and the crypto markets will rise like a phoenix from the flames and everyone will be rich. That's a bit far fetched, but sensible traders will know when to hold and why. Other crypto traders will make their decision based upon fear of losing, and sell at the wrong time, or hold to long. Which type of crypto market trader will you be? These next few months is going to be a learning experience for us all. Big changes are happening and everyone is being affected by these changing times.
There is a silver lining to all of this volatility in the crypto market. Read the full article in October's issue of MMAP Magazine; The Magazine For The Serious Success Seeker. Continue reading to discover the upside to a volatile crypto marketplace under its full title "How To Deal With A Volatile Crypto Marketplace".
by: Michaelson Williams, TSX
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