Bitcoin at new All Time High (again)
Bitcoin (again) has reached a new ATH passing $2600 today. All altcoins (aus usual) are bleeding and many investors holding alts lost 15-30% while the BTC dinosaur is roaring and tramping, leaving a chaotic battlefield behind.
Many feared a crash of BTC price at $2000, but instead it keeps rising like there is no tomorrow. Who knows where this is leading, but I am relaxed. Even if BTC crashes at some point, I am into it long term and not for small gains.
Should you panic?
If you want to panic, go ahead. But let me tell you as a long term investor in BTC and Altcoins: You are making your life more complicated than you should and will end up loosing money. Think big and stop running behind those small profits.
This ist not the first time something like this happens and it will not be the last. In the last couple of weeks alone I saw this happening a few times. Everytime Bitcoin makes a jump, everything else crashes.
Why am I so relaxed?
Well, everytime this happened I just waited 2-7 Days (sometimes a little longer) and everything was back to normal. Most of the time I ended up having more BTC/Dollar value in alts than before. Even when I did nothing but wait!
Sell high, buy low!
Most people already know this, but so many people still react the exactly the opposite way. They buy high (mostly on pumps) and sell low (mostly on dumps or BTC induced crashes like these).
For me, days like today are a perfect time to buy more alts! Is there a coin I missed or that I didn't buy as many of as I wanted? This is my chance! Today for example I bought some more XRP, XEM, NXT, ARDR and XCP. And of course some STEEM and ETH (although i hoped it would dip more xD)
But the day is not over yet! Maybe there will be more opportunities to buy other interesting coins.
Always remember to keep calm! When you panic, you loose. It's that simple. Every crash is an opportunity. Use it!!!
PS: This article only represent my opinion. Only risk money that you are willing to lose. There are no guarantees of return or profit. Please be warned, crypto is wild and sometimes unpredictable.