Hey,
Looking to get some ideas from people so let me begin by explaining my situation:
- I initially invested around $3000 just over a year ago in crypto, which is now currently worth about $1000 (2/3rd loss). I've written this off/left it and am a firm believer the market will one day recover, be it short or long term.
- I then stopped investing early this year.
- I now have opportunity to save/invest $1000 each month (after all my bills and everything are paid for).
- I have $5000 saved in cash as emergency in case I need it.
How would you invest the $1000? Or would you just save it all, or only invest a bit of it each month based on market behaviour? What coins are good to look into investing slowly, with the belief they'll give the best returns if the market properly goes into a bull run?
I dont think you should be allowing your investment to drop that much, unless you are doing a long term hodl that is supposed to take years . You should have always have a target limit that youre not going to let your money drop to, once it reaches that level you should withdraw it immediately. I cant let myself lose more than fifty percentage of what I invested.As for the $1000 you have now , I think the best thing you can do with it is day trading, and thats if you know how to do day trading .