This is going to be a post to remember the dip (hopefully it is the end of the dip, finger crossed). Looking at major dump on main and alt coins which is intense and kinda anxious to be witnessing. From this dip, there are several key points that I think really matters and it should be the principles to continue survive in such volatile market:
- Always practice portfolio management. This is hard as I always will have some sentiment and emotion on buy and sell. Having a balanced portfolio stretching into categories like Bitcoin related, ethereum ecosystem, layer 0, oracles, aggregator, DeX, Defi… that will ensure that we can capture the parabolic growth when the time comes.
- Take profit constantly. I do practice a monthly take profit but yet to do a major taking profit. Seemed I will need to hold for sometime before I do my major profit taking. By taking profit constantly, that ensure I can always have extra liquidity to go into the market incase of any dip as such. I will need to readjust my profit taking ratio, that would allow me to have more flexibility.
- Dive deep and search for gems. By positioning ourselves in the lowest point of price point, that will shade us through such market crash without a sweat. Assuming your portfolio have gained 10,000% for the whole year and you are hit by this market crash, that will only reduce your portfolio to a 5,000% gain which is still decent and safe.
So can the market recovers and slowly pick up the momentum for the long awaited pump? Or this is the mark of the crypto winter that we are expecting as well? Let’s see and brace our big boy pants.
I think so that was a flash crash and a good buying opp honestly Imagine getting Ethereum for $2,200!
True, good grab and it makes me realize a good portfolio management is important. To have extra stablecoin is a plus.