Post
Topic
Board Economics
Re: Where the correction ?
by
The Pharmacist
on 10/04/2021, 16:53:53 UTC
i just invested all of my money into crypto on the middle of november
Yikes.  I wish you all the luck in the world, but do you think it's a good idea to go all-in when something is at or near its all-time high?  Seems to me that that's how a lot of people lose money, i.e., by buying high and selling low instead of the opposite.  A better time to buy would have been right when COVID-19 was turning into a global pandemic and bitcoin had tanked.  That was around March-April of last year IIRC.

i even got 12 X ROI just for hold crypto like EGLD,INJ,CAKE,XVS
That's fortunate for you, although I have no idea what those coins are, and I bet they're a lot more risky than bitcoin itself.  Just be careful with obscure altcoins.  True, they can yield excellent short-term profits, but if you end up holding onto them for too long you could get burned.

Not sure when a major correction is coming next, but we did have one last year as I said above.  Ever since then bitcoin (and some altcoins) have been on a major tear--and there have been dips, so I guess you could consider those to be minor corrections.  That's healthy and I don't mind those at all.  It would actually be much worse if bitcoin kept going straight up for months.  If it were to do that, I'd be scared.