Useful tips for BEGINNERS: What to do when the price is dropping like mad?

[funnycoinas]

After witnessing a sharp plunge in crypto market, beginners may be confused and agitated or maybe depressed. Should you buy more? Or should you sell and cut your losses? Here are some quick tips on how to react when cryptocurrency prices crash; and yes, the main point is not to panic and fuck things up!
for how not to panic and fuck up when crypto prices crash.

There are 4 case scenarios accountable for your losses.
1. Price adjustment
2. Selling by other investors dealing with predicted change in coin market
3. Overheated investment on ICOs
4. Prelude to long term recession in coin market

Now, these are all theories, and anyhow, whatever the reason for the crash, what you have to do doesn’t change. Don’t let the downward spiral fool you. There’s plenty of reason to try and wait things out, so don’t sell yet. Keep learning more about the market, and you’ll be able to tell when things seem really bad- that’s when you cut your losses. As for buying more coins? A lot of cryptocurrency communities are saying this is the time to buy; and maybe it is, but don’t rush in without making sure you’re buying a coin that the lowest point is known. The price could always drop more, and make sure you’re always aware of the latest information and check prices often to see how they change.

I use a smartphone app to do this (I use CoinAlarm and also check Coinbase) which is convenient because you can check the prices easily, but for those who check sites, coinmarketcap.com is pretty good.

I recommend using one of the 4 essential tools mentioned in this link : (https://steemit.com/bitcoin/@dogeking/4 ... tocurrency
) , I use a smartphone app to check prices (http://bit.ly/2vcChS3) which is convenient because you can check the prices easily.

there’s nothing you can do Keep this in mind and don’t let coin prices fool you.

[vanityaddrs]

After witnessing a sharp plunge in crypto market, beginners may be confused and agitated or maybe depressed. Should you buy more? Or should you sell and cut your losses? Here are some quick tips on how to react when cryptocurrency prices crash; and yes, the main point is not to panic and fuck things up!
for how not to panic and fuck up when crypto prices crash.

There are 4 case scenarios accountable for your losses.
1. Price adjustment
2. Selling by other investors dealing with predicted change in coin market
3. Overheated investment on ICOs
4. Prelude to long term recession in coin market

Interesting, thanks.

I use the simple rule of "buy in gloom, sell in boom" for trading. If you could have bought in last weekend, I think it was, when BTC went down somewhat, and sold recently, that could have been a small but nice profit.

I don't try to read too much into it myself, I just like to buy as much as I can whenever I can. When I cash out after a profit, usu. to buy stuff I can't yet with BTC and pay bills, I buy more later on.

I wish MtGox when it was alive didn't reject my driver licence to sign up - they took issue with the official change of address label on the back - I was ready to buy $10,000 worth of BTC back in 2013. Damn.

I bought 0.27 BTC in early 2016 for example, spent more dollars than I put in, and sold when the remaining BTC I had hit nearly USD $3000. Now I'm buying back in again, although I do far less trading than buying to keep. I now like Litecoin a lot, but still Bitcoin is as exciting as it ever was.

Like others I think there is a real chance some time in the future cryptographic based stores of value can replace government issued currency and make central banks obsolete. I hope my son sees that in his lifetime, and I hope we never see a rich 1% and everyone else comparatively poor ever again.