I have been investing in cryptocurrency for 5 months . I am buying some icos and holding coins. I started with 5000 usd. And sometimes my balance went up to 30k and down to 12k . I feel very uncomfortable when my balance is dropped.
So i want to know is there any strategy to protect your balance before the dump?
Anyone can help please.
Thank you so much.
If you do not know that when will dump then you do not know trade. If you will study the market and will spend a good time in trading then you will reach to a stage when you will readily know from every event that when will the price of bitcoin or any other coin go rise and when will the price of them drop. Currently I can suggest you to hold on and wait for some more months to reach your money to more than $32000 again.
If we are involved on trading for quite some time then i cant deny that somehow we can already point out some situations where we can make presumptions that the price might go down this time which you would decide to sell out then if the price dump you do buyback. This kind of skills will really be mostly required by active traders yet long term investors doesnt need to trade actively thats why they shouldnt really bother themselves.