Many of us who like sales – discounts – on items we purchase, whether it is clothing, electronics, cars, etc we buy them because they are cheaper than buying at regular price. We wait until an item goes on sale and then we buy.
Conversely, if we have an item already in our possession that is worth more than what we originally paid for it, we could sell it for profit.
The analogy given above is the exact mentality that has created massive wealth for many investors on Wall Street and within the relatively new cryptocurrency space.
What I have stated above is a valuable tidbit of information serious cryptocurrency investors should never forget and file away indelibly within their psycho viscera.
The problem in this space is that people tend to follow along with the majority is doing. If everyone is in a panicked state, they panic. If everyone is selling, they sell. If everyone is buying, they buy.
To make serious money in cryptocurrency, you MUST …
Maintain strict discipline
Be calm when everyone else is in a panicked state
Be determined to weather the storms ahead (we are in one now)
Note: If you have read any of my previous articles, I preach the above bullet points.
Never ever give into the panic you hear in the news media, read in articles, see in YouTube videos, or from neighbors, friends, family members, or self-appointed crypto experts.
When the cryptocurrency marketplace is “bleeding red” that is, down … view those down times as cryptocurrency sales. As times to buy! Right now (as of the date of this article), there are some greatly discounted coins.
These downs in the cryptocurrency marketplace also serve another least discussed purpose: It shakes off of the greater crypto space tree the junk or rotten currencies. Anyone who invested in those junk currencies will lose their investments.
What is left attached to that crypto space tree are the currencies built on solid fundamentals that will create real value and wealth in this space. Fortunes will be made.
Below are the currencies I believe will stand the test of time and I recommend having them in your portfolio.
Note: You will see other currencies in my portfolio. Those extra currencies are, for lack of a better word, gambles. They are not necessarily bad investments but have the potential of exploding in 2018. The above list are currencies I feel very good about as long-term investments that could be worth a fortune in the years ahead. My focus is on buying more of those currencies as my circumstances allow.
The following is how I prioritize my investment dollars (based on the current prices)
At present (March 9, 2018), we are in the middle of a cryptocurrency sale. It will not last long and prices will go up.