I think this recent downturn has really helped me better appreciate the crypto marketplace and has made me rethink my investing strategy. Since I really started out with no strategy but to put a bit of money in (mostly from steem earnings) and HODL.
I really want to get into the markets a bit heavier and I think it's a great time. (although I could be very wrong so please don't take any advice from me.) So far I've only been skinning of a bare minimum of Steem/SBD and diversify into other cryptos but of course it's price is currently low as well. I also think Steem has great potential and am on a quest to hit dolphin status ASAP and it's so damn close I can taste it. I'm only 800 Steem away from 5000 SP.
Luckily my wife is on board too and is really starting to see the potential of crypto currencies. So it will to let me invest a small portion of our savings with some clear rules. So instead of my normal just park it and HODL forever it's going to be a sell and remove the investment once we double. I think there's a good opportunity to buy in with fiat right now.
I'm kinda looking forward to investing with a clear exit plan and end game. This was the one thing I've often seen suggested when I've asked for advice (see I'm taking it finally). I think it helps having set goals and milestones and plans right up front, so your not burdened by ongoing decisions of what to do. This has been my biggest stumbling point to far and I think it's just from being so new and niave in this world. That's why I think this down turn was really valuable for me personally.
(I'm still down about 40% from my personal high but still up around 200% from when I bought in)
I'm also thinking of taking a bit of money off the table when some of my current holdings hit a certain point. I hope to park a bit in either tether, ETH or BTC. (could actually use some advice on this one) so when I want to jump into another coin or something that's dipped a bit it's not a matter of selling something I'm not ready to sell or just selling more steem. I think I'm going to have a renewed vision and plan now.
Anyways, I'm excited to proceed in the market with a real plan, and having weathered this storm
Footer by @bearone
Nice plan! Good luck on making Dolphin status. You're so close!
Thanks, I've been putting some Steem aside to send of platform for crypto when the time was right, but I'm just so tempted to power it up, now that I'm buying in with some Fiat.
I like most of your investments but why are you investing in Ripple?
I know there's alot of ripple hate out their, but I feel it's pretty much a lock to hit at least $5 at somepoint this year, so I feel it's a bit less speculative then many of the others.
I'm deleting my comments.
Being down voted by Content censoring whales sucks
and hurts minnows who only earn 0.01 per post/comment anyhow
This whale BS will kill STEEM imho
Oh man, I'm not the guy to be taking advice from when it comes to coins and I'm only currently using the big exchanges Bittrex and Binnace (There's a referral code in that link if you do sign up).
... "But this time is different!" LOL
With Bitconnect gone now, there is now a strange hole in my heart. I loved to hate it. What can I hate instead?
Good job Phil! Getting the wife on board can prove a challenge for some of us, lol. But yeah, pull out your investment as soon as you can see a profit, then you can gamble and speculate without being out anything you earned with labour.
Also good job being up that much over all! It's a nice feeling isn't it? Even with the correction, my crypto was up at least 150% after a few months! Sweet deal! Did you read the EOS announcement of a secondary crypto airdrop? Hodl EOS until after the chain launch in June. Should be interesting!
I liked it too
Sold most my coins last week and i hold only NEO atm
Things will work out for others too..
Looks like you timed it just right, well done.
I enjoyed it too... buying cheap alt coins and hodling like mad. Next time I will look at Tether as an option.
Yeah it was a great time to buy and maybe still is, I hope to be able to catch the next one.
Upvoted for using "blood bath" in the title. lol. Thanks for the article. Nice trades
Thx.
I pretty much only buy coins with sbd profits I hope those go back up. I didn't actually lose money in this since I bought most of my steem at a dollar.
Can't go wrong with that, I'm very late to the party here..lol.
We surfed this wave like all the others - there's always a big dip in January regardless of Chinese interference. I bought another small chunk of Ether when it almost bottomed out. Now it's up around 1100 again and Steem is pushing near 5. #HODL
Here's $20 for supporting Steemit.
Just click the link to Join Monetize Coin
https://monetizecoin.com/?ref=5a566f9c2e4cd
@amazing post
Awesome work! I`ve re-steemed!
Must be supported...
Thank you for your wonderful work 😊😊
Thanks a lot for sharing update news of crypto ....
hahaha great post!!
very terrible, I am very disappointed.
Upvoted and resteemed.
Its been needed. You cannot even assess hodl opportunities comfortably until the bloodbaths and doldrums market days/weeks take place.
Yeah, it was to be expected and so many people predicted it, I should have removed a bit.
It has been a roller coaster of learning. I got into crypto investing to make some money toward a new house.
My strategy has changed as well now. I am keeping steem long term and bought some yesterday. I will cash out some other coins for the house but still keeping a long term portfolio. I have been buying a small amount of many alt coins and selling half when they double in price. This has left me with 120 coins that have paid for themselves. Hodl on to them and maybe I will get lucky one day. Thanks
Yeah, I definately need to start cashing a bit out when the price increases. it was sad to watch all my potential profits melt away, although I'm sure it's not gone forever.
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