In this sea of red take a look at these coins and how much they are off from their all time highs:
Opportunities
- VEN (down 67%)
- EOS (down 85%)
- ETH (down 79%)
- ADA (down 92%)
- NEO (down 75%)
All of these coins should be familiar to you, they have the largest market cap! While the tickers seem familiar the price might not.
Maybe you saw these coins a couple weeks or months ago at all times highs, and you were probably wishing that you had entered a position since all you have see is it go up and up and up.
Another Chance to enter
Like many people who are recently getting into crypto you might of thought that you missed the opportunity to invest. You have seen all these coins start from nothing and work there way up hundreds of percentages. During times of uncertainly and bear markets, it is the best time to enter (scaling in of course).
Use these prices to your advantage
Don't fall into the same situation you may have been in last time, seeing BTC all the way over 18k and wishing you had entered early.
I remember feeling like I had missed out putting my first money into BTC at $800! My only regret was not buying more. I take times like these and remember the past and what happened.
Warren Buffet once said something along the lines of "Sell when others are greedy, and buy when others are fearful"
Use times like this to take your positions that you wanted to take in the past. If there was a coin you were interested in, but the price was too high for you, enter now. Use this fear in the market to your advantage. This is how you become a successful investor.
The Truth
It is hard to see your hard earned money drain away. Wether its profits, or cash that you recently put into the market it still hurts the same.
While this is painful you must remember, you took a position for a reason. Hopefully a good one. Maybe you like a coins team, or mission or the tech behind the coin. Either way this downward price action has not changed the core reason why you invested into this market in the first place.
Every long term position that you have that you have will go thru this vicious downward cycles, its just the way of the market. If you have invested long term just remember why you invested and DON'T panic sell!
Wether you are going long or thinking about entering, these bear markets are where all potential profits can be made. No one wants to buy at the top.
Note: This is in no way professional advice, all of this is my own opinion and experience in these markets. I am NOT a Certified Financial Adviser. Consult professionals for any financial, accounting or legal related questions you have.
Photo credit "Insider Monkey," www.insidermonkey.com.
Crypto heat map provided by yahoo finance