Post
Topic
Board Altcoin Discussion
Re: I lost money on the market drop. What should I do?
by
Fortify
on 26/05/2021, 19:09:04 UTC
I lost a big sum of money because of bitcoin fall. What can I invest in to avoid risks like that? Or at least to bear lower risks?   

One thing you will learn through many years of investing or life in general, is that sometimes you need to cut your losses. You are faced with two possibilities right now: Either eat your loss and accept that the money is gone, which means you should probably stay out of the cryptocurrency market in future. Alternatively, if you think that your crypto asset will recover in future you can hold on to it - but you have to face the uncertainty every day that it could fall even further in future, personally I prefer to do without that sort of stress in this highly volatile asset class. One of the first rules of investing is you should not put in more money than you can afford to lose and that is often overlooked by many people to their detriment.