How To Get Yourself Through The Altcoin Crash
If youâre like me, youâll be looking at the markets wondering what steps to take next. It looks like the end, right? The markets are down, values are low and altcoins are struggling to materialise. As you know though, this is just temporary, itâs an organic part of the volatile markets and therefore, patience and perseverance will pay off, itâs just a case of holding on and treading water during what looks to be a substantial altcoin crash.
We have to remember that these low prices do present buying opportunities, after all many ICO based cryptocurrencies are now at the same price they were initially offered at, doesnât this mean guaranteed returns?
In fact, some of the best advice you can seek right now is to hold off investing just yet, or, if you do invest, do so in small amounts. Get yourself through by putting small amounts on low priced altcoins. Donât splash out on the big projects right now because things are looking very bumpy and a little volatile. Simply put, the risk is too high and many experts believe that the likes of Bitcoin and Ethereum havenât found their bottom just yet. The time will come to invest in the big projects, but likewise, the time isnât now.
According to Cryptovest, another wise move in this market, could be through an investment in Nodes:
âBecause mining is seen as an ecological disaster, there are coins with elaborate staking systems. After the most recent crash in prices, owning enough coins to run some types of nodes has become more accessible. For VeChain (VET), running a starter node is now five to eight times cheaper compared to peak prices at the current level of $0.0068 for the VET asset. Choosing a handful of coins for staking may mean higher rewards. Quality projects include Stratis (STRAT), but also Ontology (ONT), and now an even more affordable NEO (NEO), paying out GAS.â
At this point, do remember this is not investment advice, this should only be used to inform your research, we arenât financial professionals and as such, this information is not designed to make you invest, rather, we just want to aid your research and allow you make more informed decisions.
Importantly, in the words of Cryptovest:
Hurry up and wait
âThis is a strategy for a protracted bear market, as well as overheated price movements. The world of crypto coins is volatile, and it may be advisable to merely monitor a handful of assets to get a feel of their price behavior over time. Using apps like Robinhood, or Blockfolio, it is possible to create a virtual portfolio. Test the waters before investing funds.â
See more for yourself, here.
The bottom line
If you havenât sussed it already, the best way to get yourself through this altcoin disaster is to hold off making any irrational decisions. Do your research and take your time. By not investing, you canât be at risk, but also we know how hard it is to resist that FOMO. Donât buy on an impulse, check out the project, check out the markets and review historical trends. In order to make wise investments, you need to get your time and place right, itâs the only way youâll survive the altcoin crash and come out on the other side with more money than you started with.