On September 4th, the Crypto Currency market suffered an unexpected crash. The Market Cap (as could be seen at the Crypto Currency Market Capitalizations website on that date), was about 151 billion dollars. In the previous days before the crash, the Market Cap was at about 175 billion dollars.
Needless to say, many Traders and Investors panicked. Bitcoin (BTC) was approaching $5000. It dropped to $4349. The value of almost all Altcoins dipped. You can read more about the September 4th crash and what I believe caused it in my post entitled Oh No! The Market Crashed!
When all in the Crypto Currency market appeared to be on the rebound, it crashed AGAIN!
And, I say, AGAIN, do not panic like so many do. The market will recover. Take advantage of the crash – or any dips in the market – to acquire cryptocurrency; especially the ones that were out of reach for you. REMEMBER, I preach cryptocurrency investing (for the long-term), not cryptocurrency trading for the short-term.
That is, I invest in good Altcoins and I hold them for the long run; for years on end. That is what investing in. Those who panic are not really investors as far as I am concerned. They are akin to day-traders. They buy a coin on day one when the price is low and then on day five – for example – the sell it if the price goes up and they make a quick profit. What a nightmare that must be! To constantly watch a coin or coins that were purchased and selling them as soon as they show signs of a profit. Those persons do not have a life, apparently and must be high on caffeine or mind-altering drugs. 🙂
My advice is to pick and purchase 5-10 well researched Altcoins and hold on to them for the long-term. Don’t panic. Do not worry about the dips in the market.
The market will recover.
It always does.
“Remember, everyday above ground is a good day.”