How To Survive The Bitcoin Shock

[oldbuddy]

I am by no means a financial advisor, but I have been collecting Bitcoin for a couple of years now and managed to start from zero and grow my free earnings to a couple of million Satoshi and my balances are growing daily.

I just keep reminding myself, that all these numbers being thrown about by analysts all over the Internet are enough to scare anyone involved. The real truth that helps me, is no matter how low it goes the only way it can hurt me is if I sell. I do not need this money on a daily basis, so I am going to stick to it as long as it takes. What is helping my sanity more than anything else, is that I keep adding to the number of coins I have and forget about the value of them for now. Above all, don't just HODL like so many advise, put them to work and make them multiply like a herd of rabbits.

Hopefully, I will see you in line at the bank when this is all over.

 

[Fecoms]

Above all, don't just HODL like so many advise, put them to work and make them multiply like a herd of rabbits.

If you don't HODL or cash out your coins, how do you put them to work? Do you reinvest the money earned from crypto? I guess your idea will be worth sharing. For me, I invest in crypto, but every other day I remove the money to avoid stories that touch the heart.

 

[Good-Guy]

I do not think that there is a surefire way to deal with such kind of shocks. However, you could apply some kind of techniques in order to minimise losses in the end. So, how can you avoid losses?

1) Create Portfolio

Production of the right kind of portfolio is the key when it comes to investing money in bitcoin market. This is because portfolio allows you to invest what you can afford to lose. Portfolio refers to percentage of investment that you could bear losing. If you have $100 and if your choose to invest $10, then your portfolio is 10 percent.

2) Monitor The markets

Monitoring the market is also one of the important things as well. This is because monitoring the market could help you a lot when it comes to avoiding losses. Many professional traders usually monitor the markets all the time.

3) Use Stop Loss

Using stop loss is necessary when you are not trading and when you have placed an order. In case you do not have the time to monitor the markets, then you may utilise the stop loss option in order to make sure that you do not suffer from losses in case the market crashes.