Wow, it's a bloodbath out there in cryptoland. Everything's tanking.
Personally it doesn't really bother me - I'm still bullish on the things I'm bullish on. In fact, I want to buy the dips here on a bunch of different coins. But nothing is green today, so I can't really sell anything to buy the dip. And I don't want to dump more fiat in at this point.
So I suppose the lesson here is to trade out of crypto and hold some fiat for days like this. Take profits, to be sure, but also take some profits into fiat that can be held in order to buy dips.
But of course, if there is a bull run, you miss out on those profits. Ay, that's the game, I suppose.
It's days like this, though, that I am very glad I invested in mining - right now, I'm
- GPU mining for Eth
- Staking: Monkey, Lux, ProCurrency, BridgeCoin, Shift
- Contributing 1/10th of an Alqo Masternode
- Delegating SP to @boomerang
So my bags groweth, even amidst a bear market. Next, I want to start CPU mining for cryptonight coins with these newfangled, fast-as-heck CPUs.
Stay safe out there.
I recommend you to diversify your porftolio by dividing your gains in percentages like this:
%30 of the gains weekly directly to fiat (or ethereum if you like to)
%30 of the gains weekly to buy dip so you hold them apart
%40 of the gains to rebuy alts
This is the strategy I've been on for a little while and god it is working.
That's extremely conservative
When you say 40% to rebuy alts, do you just mean only taking 60% of your profit each week? Or do you sell and then rebuy immediately? I don't really understand. And doesn't your portfolio shrink quite quickly if you take 30% of gains out every week?
icing on the cake my friend!
An Alqo Masternode? Never heard of it?
I like it. Wanted to buy whole thing but too expensive, though now you can have one for like 11k. Discord has great way to buy 1/10th of node, 1k alqo currently paying out 100 alqo a month.