The Family Adventure Guide - June Issue 2023 - Magazine - Page 5
What to do in a down
crypto market?
By Gary Biniak
I know so many people that claim to be
emotionless when it comes to investing, but bring in
a down market like May 2022 and even the most
hardened investors may cry.
If you read my articles regularly, you are already
ahead because you know what I always say “don’t
invest more than you can afford to lose”.
What should you do depends on many factors and
each person’s situation is totally different so to give
a one size fits all answer isn’t easy, but let me try to
give some tips that should cover most of us:
1. Don’t panic! This is the emotion most people feel
in a down market, it’s the opposite feeling of
when things are going up. You sell everything
only to watch the market make a swift recovery.
2. Don’t follow the crowd – whatever the crowd is
doing is typically wrong. In fact, whatever the
crowd is doing, plan to do the opposite.
3. Patience will win the game – this is so true in
crypto, eventually gains/losses get erased in the
long term.
4. Sell on the way up - most people ride the wave
until it crashes, don’t be that person.
5. Buy safety in down markets – consider buying
BTC, ETH and BNB and selling out of your riskier
alt-coins for preservation of funds.
6. Don’t buy scams! Coins like MonkeyPoxInu, the
latest scam coin that just stole money from
investors. Stay away from these new coins as
much as you think they are going to make you
rich, they seldom do.
If you’ve been in crypto for a few years, you know that
these cycles are normal. They are not fun, but they are
normal for crypto and just like the housing market and
stock market crashes, crypto will also return. Just think
about this, if you bought BTC anytime in 2020 or 2021
you would have no losses and up to a 10x return, not too
bad for a “down market”.
Disclaimer
SWAP Project Update
The SWAP project held onto most of its value while
many other cryptos dropped significantly. We just
picked up our first influencers and continue to gain
momentum. If getting your political views heard by the
other side is important to you, now you have the
perfect tool to help while investing in crypto.
SWAP Cryptos are the first politically aligned
(Democrat and Republican) cryptos positioned to
expose news and bias to each side. You can learn all
about it by heading over to the website at
savetheworldandprofit.org or by scanning this QR
code:
Want to get into the SWAP Project?
https://t.me/SWAPLeftSide
OR
https://t.me/SWAPRightSide
To Learn
More!
About Me
It is my goal to help over 1 million people succeed in
crypto!
I’m a tech nerd, successful crypto investor, successful
business owner, entrepreneur and avid adventurist.
You can connect with me on Linkedin:
https://www.linkedin.com/in/garybinz/
You can follow me on Twitter @TheSWAPprojec
This article is not investment or financial advice, because I am not a financial advisor. Crypto is a volatile and risky asset. You should never invest
more than you can afford to lose.
