First off I am a noob in cryptos. Only here 4th month but virgin fresh from trading cryptos I have been trading stocks and options for almost ten years, and results have been horrible. I basically lost my shirt.
When I found cryptos I thought I had found my salvation in finance. However I was a bit disappointed how sophisticated the trading of cryptos has become and making it very easy for anyone and I mean anyone to trade. Kids under 18 can trade and basically anyone from any country with a internet connect can trade. I think this makes the growth exponential for cryptos with more people allowed to engage in trading. The drawbacks includes swift moves up and down. This really hurts the people who believe in crypto because without stability the established banks and government will always call out crypto going to zero.
As a long term hodler I am not going to sell out just because of these kinds of dips. Instead I would be trading them to earn me more cryptos. The sad part to this is I may lose my shirt just because I am trading cryptos, but I intend to focus on only risking money I can afford to lose. The allure and ease to get into trading has potentially dangerous impact for all in crypto. Only trade money that you can afford to lose. Thanks.