Hello Readers!!!
Not writing for any crypto project today but still going to be a crypto write.
Read on, you might pick useful information, please note that, this is not financial advice, just my personal opinion
I have been in the crypto space for very long and I have to say this is not the 1st, 2nd or 10th dip I have seen in this space. I must say being a crypto person is stressful, if your emotions are weak, you cannot cope with holding coins or investing in crypto because no matter what you hold or invest in or the coin you decide to buy, you must get affected when there's a general crypto dip unless you buy a stablecoin which may never dip(that's why it is called stable), this means one way or the other, you have to stay strong for the period of dip.
Crypto pullbacks are caused by so many things, most of it comes from news that put fears in the mind of crypto investors which makes everyone panic-sell their assets because they are scared of losing all of it or selling at an unbearable/unmanageable rate. Everyone wants to manage their risk.
As a person in crypto, you have to prepare your mind for the dip periods, it doesn't give a notice but some crypto traders are able to tell from their technical analysis, so most of them avoid the market when they notice a downtrend.
The dip is one of the biggest opportunities for investors in the crypto space. An opportunity for them to buy more of their favourite coin as their prices will be very low, more users wants to sell and only a few are buying, supplies are higher than demands. There's this popular saying when there's a dip;
Buy the dip
This "Buy the dip" saying is common among crypto users, it means to buy the coins you believe in at a very low price and when there's a rise in the price, you sell at a favourable price for you. This process of buying the dip and reselling when there's a pump again has made so many people millionaires and helped them make good gains, in fact, it is a way of making weekly/monthly earnings for some.
Crypto dip is not a bad thing, it is an open opportunity for you to buy low and sell high later every time it happens, you never can tell what dip you'd buy to become a millionaire.
Keep buying the dip when you can but always remember to manage your risk.
Thanks for Reading
