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Now is a great time to buy, BUT...

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by COINS NEWS 168 Views

So over the last several weeks I keep seeing posts saying 'NOW IS THE TIME TO BUY!', 'THE BOTTOM IS IN' blappity blah blah, and things just kept on dropping. Sure, prices are great now, and like people are saying that these are the times where you really benefit from investing. I just want to throw a couple things out there, and that's:

  1. Just because you buy at the current low prices, things are most likely going to fall further. We are in uncharted times right now. Governments WAY over-printed money without thinking of the consequences and let's face it, inflation and rising interest rates will be in our future for a while which effects us crypto-dorks negatively. Recovery will NOT happen overnight, over the week, over the next month, hell, we might be in this for months so even though you read all the posts to BUY NOW, just relax and know we're not getting out of this any time soon. Don't make pressured decisions because of some dumb post and feel like shit because it dipped after you bought the dip. Be tranquilo my friends.
  2. Even though prices are low, just because you stack your favourite project DOES NOT MEAN you're guaranteed to make crazy profits when the market recovers. Crypto is still kind of a gamble, nobody knows what's going to moon, what's going to sink, who's going to sign a deal with a huge corporation out of the blue, etc. Like I mentioned in the above point, we're going to be in this shit for a while so maybe take your time and do some research on other projects! Join some subs, find out what you like and don't like, and maybe you'll fall in love with something new that you never would have found out about in a green market where you're only hyper-focused on what you own. It never hurts to try something new so give it a shot! Right now is the perfect time to DYOR because believe me, ain't nothing good gonna happen for a while.
  3. If you lost faith in a project, there is NOTHING wrong with selling and buying into something new or re-investing that money into something you already have faith in. I really hate this sentiment of 'you only lose money if you sell' because it's complete bullshit. You only lose your money if you PULL OUT OF THE MARKET. You can sell but as long as you reinvest, you're still in the game. Honestly my best buys have been selling when I'm down, I've made thousands selling projects that I didn't believe in anymore and reinvesting into something new which quickly rocketed. Could it be dumb luck? Maybe, but it's happened to me two or three times in the last year so I think that kinda X's out the luck part of it. Like I said, right now is a good time to buy, but it's also a great time to restructure your portfolio and move some things around.

Well, there you go, just the ramblings of a random dummy on the internet. To tldr myself; the market is going to be down for a while so don't feel pressure to buy NOW, try taking this time to look around and research something new that you never would have considered investing in before, and don't feel bad for selling low and restructuring your portfolio.

Thank you, this has been my TED Talk.

submitted by /u/newbjapan
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