Well that was an interesting day. Sometimes shit just hits the wall and nobody sees it coming. I'm sure that many people checked their portfolio today like every other day to go,
"What the fuck!!!"
Where did all my money go to.
Then the panic sets in.
"Shit, it's all evaporating before my eyes. Everything is about to go."
This is where the mind says to hit the sell button. Save what is left before it is all gone.
That is of course the normal reaction to your portfolio losing up to 50% day to day. A perfectly understandable reaction to it in fact.
Only however, if this is your first time. If you are a crypto virgin and have never been fucked before. Don't worry, it gets easier over time. It even gets more fun. The first time is always the worst. You don't really know what to expect.
After a while it becomes perfectly normal to see it and in the longer term you can even be ready for it. Simple things will make days like this pass a little easier.
Spread your risk
While Hive is always my best and biggest holding. Over time i have expanded my portfolio into dozen of other tokens. Taking gains from market pumps to buy into less know tokens and repeat. It's a good thing to have holdings in multiple tokens for when they get an unexpected pump. Also claim every free token and airdrop going. Over time they will add up and can even do very well.
Sell on the way up
It's ok to sell some profits. Holding everything at all times makes no sense. If your 10c buy is now $2, sell some and bank into stablecoins. It's handy to have some ready for days like this.
Choose wisely
Don't buy shitcoins. If you are spreading, choose projects that will survive a bear run. Ones that will keep building and come back in a few years. That is one of my biggest mistakes.
Earn interest
Lots of places will earn you interest on your holdings. What does it matter if the price drops when you are increasing your holdings. Over time the price will recover. Won't it be nice to have even more of it the next time.
Buy the dip
This is why you have some stable coins ready and waiting. When the markets drop 30% in an hour, get ready to buy. There will be a bounce and like today a major one. Even if you just want to set a sell order straight after the buy it can be a handy way to add 10% to your bankroll for another time.
Then put those stable coins to work earning interest again.