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RE: Did You Panic Sell or HODL During The Recent Market Correction?

in #investing7 years ago

The new comers coming to crypto from news have a presumption that cryptos are get quick rich scheme. They have been fed that the market is highly volatile. They calculate profits in intervals of just a week or two. In reality crypto currency should be viewed as a long term investment. The investment should be done just like investment in bank. When you buy Bonds and Fixed Deposits in banks, do you think of cashing it out in just 15 days? No you don't, rather you invest in it thinking about it as a saving for long term.

If you look at yearly change in the price of bitcoin you will clearly realize that even though the price of bitcoin changed every hour, it was always high the next year.

Also, i was interested in buying the steem when the price came down, but could not since my KYC is still pending for approval on an exchange. Nevermind i will try again later.