OK I'm 25% poorer on paper than this time last week, but I'm not one of those panic-selling my crypto, in fact I'm inclined towards cashing in some of my stables and maybe going a little deeper into BTC or ETH, and especially Rune.
However, I'm not topping up my crypto bags just yet, I want things to settle first, the market's a little too volatile still to go on a shopping spree.
In the meantime, I think FOUR general investment strategies are helping me to stay calm during these volatile times.
Only putting in 5% of my wealth into crypto in the first place
It feels almost unreal that I've only put 5% of of my Wealth into crypto over the past nearly four years, much of that bought during the last trough in December 2018.
And given the gains I've made over those years, even a 30% dip means I'm still well-up on that original investment.
I can easily get by without Crypto, of course it would be nicer to have a crypto portfolio values at $250 000 rather than $25 000, but I'm not going to starve even if the whole cryptosphere implodes.
I'd just be annoyed I didn't cash out earlier, but I've got other income streams and assets besides, which helps me stay calm during such periods of crypto blood baths!
I've been diversifying into Stables
It's at times like these that I'm glad I sold most of my DEFI yields into Stables, in fact I've more than covered my total FIAT investment into crypto and it's now sitting in various yield farms (mainly on Cub) helping to prop-up the value of my 'real crypto' (non-stable) assets.
There's nothing like having a decent percentage in Stables to take the edge of a BTC etc. crash!
I had a target in mind, which I'm only a few hundred off making, but I'm now selling less of my yields into stables and more into crypto. Makes sense when things are on sale!
Modified Dollar Cost Averaging in to MOAR crypto
I'd still like more ETH, BTC, RUNE and a few other bits and now we've got this downturn, I'll be looking to resume my purchasing of these little by little.
I don't try and predict the bottom and buy big, but around now is when I think it's maybe good to buy a little more of the cryptos I've targeted, rather than cashing out for stables.
In short - during a bull I cash out DEFI for stables, during a a bear I cash out for cryptos - and then plough whatever back into crypto
I have a low expenditure!
This is my secret weapon in keeping calm during a crypto crash - my outgoings are quite small and I'm looking to DIY meet more of my basic needs - going as moneyless as possible.
In this way crypto tokens seem almost like play money, or maybe game money is a better term?
Final thoughts - I'm lucky I can stay calm
I'm glad I'm in this position - of not having to rely on crypto to live ATM, a function of my low expenditure - which allows me to see a crash as a buying opportunity.
I'm sure crypto's not quite dead yet - there's a lot more to come - we are still at the very beginning don't forget and these massive corrections, well, that is just crypto!
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Hi! I am ultra conservative and I never put more than 1% of my total patrimony in a single asset. So I believe that you are on the right path, diversifying a lot and putting only 5% in crypto.
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Yes it felt crazy at the time!
Worked out well though.
I think you've got to punt something if you've got it/
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@revisesociology I like to diversify a lot, the only thing I don't do is sell to balance the portfolio, so let's say I had 1% in BTC, and BTC had an appreciation of 100%, now I have 2% of my total assets in BTC . In this case, I will not sell part of my BTC to return to 1%, assuming that you should never sell good investments. :)
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Completely agree. DAMN. I may of already gone on a HIVE shopping spree atleast. I always average in terms of how much I am willing to let the price drop before it might not go lower type deal. Have smashed my hive goal though which is super exciting as I can finally start my community now ;)
Well Hive is a good buy I think!
what community are you starting?
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I felt like this today. I was laddering down the dip £1000 price drop at a time buying tiny amounts. My last buy was just £200 above the very bottom. Fun, fun, fun!
It's all money I can afford to loose so it was stress free and I'm happy to wait years for it to grow to meaningful amounts.
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I've thankfully been out and about for the last few days so not paid any attention to the movements - I completely misssed the bottom, but TBH given that I've got a BTC price target of nearly $100K in mind whether i buy at $30 or $45K makes little difference to me!
I'd rather make less profit and a less stressful life!
Hope your buys work out for you!
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It wasn't stressful for me it was fun.
I just put in a limit order £1000 below my last buy and when that got filled I put in a few more and then watched in amazement as they got filled. Kept doing that until the price went back up. I've still got a couple of orders in which I don't expect to get filled. But then I didn't think the others would be filled either. 😂
If things stay steady now or go up again I'll be back to dollar cost averaging on Sundays. 😂
Have you been doing fun stuff on your land?
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not too worried about this dip even though it hurts to see over 6 figures of paper gains go poof.
But I started this journey long enough ago to still be up 10x in total and I guess like you, I am used to riding this wild crypto ride.
nice to see you are still doing well... how is portugal treating you?
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I sort of lost track of what's 'real' in terms of crypto worth at $100K!
But I'd rather see it worth more than less of course.
Portugal is all good, just the pace of life is about 3 times as slow as I imagined, and it'll get slower now it's heating up, first really hot day today, summer is going to be a challenge!
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My crypto is mostly powered up HIVE, so I don't find these events stressful as there is not much I can do to react. I will just ride it out. Most people who bought a while back should still be in healthy profit. It's those who just bought DOGE or whatever who may be crying. I have been saying we need a cull of crap coins, but I doubt it will happen.
I did read somewhere that it's mainly new buyers selling, most long termers are holding.
It's not a bad place to be just holding Hive I think, makes life easier.
Wouldn't it be nice to just see the crap cut out, I guess in a way over time they'll just sink to nothing!
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Keep CLAM and carry on?
This is something I've been thinking about a lot lately. If I get sacked and fail to find a new well-paid job, I might have to go minimalist unless my crypto hustle pans out in a big way.
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So good reading all these posts about stacking further, thats what I did and thats what basically everyone is writing about. So if all did buy the dip where is the bagholders the bleeding sheep the crying babies?
!invest_vote
!LUV
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I think this is very important, and is a mistake people (especially newbies) make due to the lure of higher returns. With something so volatile it is essential that we have some stable investments elsewhere until it becomes the norm. For now it is still like a gamble and can burn people badly if not careful
I read that a lot of the selling over the last few days has been people who bought in this year, OUCH!
While a lot of the buying now is by longer term holders!
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Agreed. It may scare off a lot of them, but I think it will also make everyone smarter on how to go about investing in the long term
I think stablecoin diversification is a good way to hedge risks on profits in crypto. I think that they will be big for investors in the future as crypto grows larger
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I think so, although I am wary of stable coins too. I'm not convinced USDT for example is actually backed by actual dollars!
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Yeah I don't really know who even issues them, would probably like to check that out actually. Might do an article on it tomorrow!
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I'm still not panic because I don't have crypto Asset
It sounds like you and I are in very similar positions. We don't really need crypto, but it is a nice alternative investment over our traditional stuff. Everything I am doing here is just icing on the cake because my regular job covers everything else. That definitely gives us a measure of freedom that others don't have when dips like this happen.
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@solymi denkt du hast ein Vote durch @investinthefutur verdient!
@solymi thinks you have earned a vote of @investinthefutur !
Hi @revisesociology, you were just shared some LUV thanks to @solymi. Holding 10 LUV in your wallet enables you to give up to 3 LUV per day, for free. See the LUV in your wallet at https://hive-engine.com or learn about LUV at https://peakd.com/@luvshares https://ipfs.io/ipfs/QmUptF5k64xBvsQ9B6MjZo1dc2JwvXTWjWJAnyMCtWZxqM
Creo que es la mejor estrategia, de momento esperar y comprar a precios bajos que a la larga va a volver a subir el precio