BSV and the important lesson it gave to me

By DimitarM | Welcome to my life | 19 Jan 2020


So the last weeks in crypto gave me an important lesson. Let me share with you what did I re-learn(because I knew it already, but I needed reminding).

Anyway - the Bitcoin SV , was about ~$100 on January 1st 2020. Then from that point it started steadily to go up, first by 15%(9/01/2020), then by 60%(12-13th Jan) and then it jumped with over 400% in just a day. The peak was $436 on Jan 15th:

351665157-e776d34196a491e2e153c8b862f3d3e1639c28f95d221179466c45ba50d1b75b.png

That's almost twice higher than the previous all time high of BSV from June 2019. And now we are having almost 40% down from what is was just 3 days ago:

351665157-3d75676c5d68699a06ee8d54e6c1142118e64d810b2526e1ef7c55f98dc0c345.png

But for me, in this picture the more important price is towards BTC. As you can see BSV was almost 5% of 1 Bitcoin at it's peak. Normally it would be between 1 and 2% and I expect that in very short time the price will go back exactly there. 

The lesson I got from this behavior(I have seen this happening before with many coins) is at the moment you see a coin you own gaining triple digits percent to just go and change it either to FIAT(if you need the money) or to BTC if you want crypto. Point is those coins will not remain that high forever. Usually they reach some peak, and start dropping to a point where they are little higher from where they started. The BTC, even if it drops, it will drop less percent-wise compared to an altcoin.

It's a good idea to have a Crypto Signals app, that will notify you for the price changes of coins you own or you are interested in.

There are plenty of those in the app stores that will send you push notifications to your smartphone. Also having fast access to an Exchange is also important.

I have Coinbase, KuCoin, Changelly, Shapeshift ready to take any trade of a coin I own.

This is my opinion, you do not need to agree with it. 

Hope someone finds this useful.

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DimitarM
DimitarM

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Welcome to my life
Welcome to my life

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