4 Key Points to Survive Crypto Winter
Recently, the IEO craze drive by leading cryptocurrency exchanges bring a twilight to the bear market. However, any speculation has its rhythm, a new concept can always fall sharply after a dramatic rise. As thus, learning ‘surviving’ skills from veterans is still necessary for the majority of the crypto enthusiasts.
If we say Bitcoin is a grand social experiment, the number of BTC holders could be the participants which is less than 0.2% of the world population. Surprisingly, it does survive for 10 years under the pressure from governments around the world, which shows the characteristic of an “irreversible invention”.
From the moment the Internet was born, human beings have opened the door to another parallel world and Bitcoin is one kind of the “cells” in this new world. We are still in the early stage of the crypto revolution, and the market is squeezing the bubbles out.
The blockchain media 8BTC has summarized 4 key points for crypto investors to survive through the “winter”.
First of all, HODL the mainstream cryptocurrencies. Investing in altcoins is so risky in a bear market. Currently, more and more crypto exchanges have obsoleted various aircoins to protect their credibility and guide the healthy investment trend direction.
Secondly, it is inadvisable to conduct heavy investment in the bear market, in this case, cash is the king. A wisdom investor can always hold his earnings.
Thirdly, be aware of bottom fishing. In Chinese crypto community, a saying goes that “Newcomers die of buy-high, veterans die of bottom fishing”. People’s appetite for wealth is endless, and cryptocurrency has always been considered as a high risk, high return investment, self-control is fairly important to investors.
Finally, it is time for study. Value investing is always the core of the crypto market. Investors should learn more technological principle behind the token which can help in making investment decisions.
Real value investors should prefer a bear market where they can find many bargains as good projects are usually underestimated in such a sluggish. Of course, it’s no use just buying good coins cheaply, you need to hodl it for the long term.