The cryptocurrency market is known as the volatile market, and volatility allows us to profit from crypto trading. At the same time, there is also risk, and we can lose money in crypto trading. The possibility of profit and loss are equal, and the timing of investment and the profit-taking strategy decide whether one person will get profit or loss. In a word, trading decision is the decider of it. So, making the right decision can ensure profit.
People make wrong decisions because they learn from their mistakes, and again, there is another way to learn, and it’s to learn from other mistakes by learning after hearing advice from someone else. For that, it’s necessary to know when people make mistakes mostly. The answer is when people panic, they make mistakes easily, and most of those mistakes they make because they are influenced by their emotions. So, it’s necessary to maintain the emotional balance. People panic when a market crash occurs, and panic selling brings more crashes to the market.
Right now, the $BTC price came below $100k, and many people didn’t expect it, but because of the war situation, a market crash occurred, and no doubt the majority of people are suffering losses in such a situation, which is normal. Nobody knows when the end of the war will be, and it will be quite expected if Iran attacks again; it will bring another market crash, and in such a situation, investors are afraid of making investments. What to do in such a situation? I am going to share my opinion about it.
I think first, I need to stay calm, as I am suffering losses now, and I am not getting any benefit if I panic. I am not ready to sell anything right at the moment because in that case, I may suffer the loss permanently. As far as I can predict, the BTC price may not go down below 97.5k unless Iran makes an attack. In such a case, the market should recover within a few days, and I may see the BTC price go above 100k again. I have little funds to invest, and slowly I am investing little by little in those cryptos that are fundamentally strong. If the market goes up, I will make a profit instantly without making any delay.
On the other hand, if Iran makes an attack or other bad news comes, BTC may go to the 94k level, and that means we may see another crash in the market. So, in such a situation, I will try to arrange some more funds to invest because it’s just a matter of time until the market will recover for sure. And I need to wait patiently for the good days. I know that in cryptocurrency trading, patience is very important, and one should leave trading if he has no patience.
For me, it’s very easy to remain stable in all kinds of situations because I have a robotic heart, and making trading decisions based on emotions may not happen in my case, and so I can continuously observe the market conditions, but everyone is not like me, and I recommend they stay far from the trading chart for a while because they may feel pressured or panic if they see their portfolio. Watching movies or enjoying time with family members can be useful to remain busy and not to worry too much about the portfolio.
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