Is over 3 months now btc is experiencing lost, in my little way I use 1 million naira to invest and ever since then I don't feel like sleeping because my money keeps dropping every now and then, I don't know how long this drops is going to continue because am scared the little money I thought will built empire is shrinking to 200k. Please what's causing these deflection of cryptos and markets. Or should I remove the remaining balance?
Previously, you entered to buy Bitcoin at what price range? If you did that a few months ago, the decline should not have been too big. Even if you bought when Bitcoin's peak price was $111k, and now it's down to $108k, it shouldn't have made you panic. Unless what happened was your wrong thinking about Bitcoin investment.
Bitcoin will not give you big profits in the short term. If you have planned your investment well, you should put Bitcoin for your long-term plan. If a small decline makes you panic, I also doubt the money you allocate to buy Bitcoin. Don't take too high a risk.
If you are just that noob into this crypto space then you would be definitely be having these kind of impulsive feelings on which this will be the main emotions on which you would be able to feel out at the time that the market do make out some price decrease but actually its just that part of the market on having these kind of volatility. Whenever you do saw yourself that panics whenever it drops then it do shows that you are just that new or not that being too get used to on how this market works and its recommended that you should be trying out to familiarized or make yourself that at least do know on what you are that doing or dealing with because at the time that you've been just that expecting that positive and excluding out those negative and at the time that you would be able to experience out those bad situations or price drops then you would be finding yourself that being impulsive.
You would definitely panic and would be finding yourself that being that too reactive on which it will be that causing up that huge disaster at the time that you would be making up some bad decisions specially on panic selling. Make it sure that you are the ones will be making out some adjustments in regarding into the things that you've been currently that dealing on with.