URGENT Warning To Crypto Investors! Why I sold some Altcoins

I do want to discuss exactly what’s going on here in the market today. Today is a massively red day. In my opinion, we have opportunity here. Of course, on the day, I’ve been buying Bitcoin and I also bought myself some Amazon because that was down 7.5% on the day, which is absolutely wild to see a whole massive company like that be down that much. In my opinion, this is just a crazy amount of opportunity. We could drop 50% more in the market overall and our continuous dollar cost average into that same market because this is when the money is made.

I know that I keep saying that sort of thing and we keep saying it when the market keeps going down, but that’s the thing you have to understand. If you can make it through these bear market, that’s where the money is made. It’s as simple as that. Obviously, there are no guarantees in this market. Obviously, cryptocurrency can go to zero. But I don’t think something like Amazonn will go to zero, but of course it can drop further, but this is the market that we’re in right now and if you just take your eye back to 2018. That’s where you’ll understand if we are in a similar scenario to that, the opportunity is immense.

Look at that red across the board. If you have a short-term mindset, this is horribly scary. I totally understand it. That’s exactly how I felt in 2017 and 2018 going into that bear market, but there are things we can learn from this. For example, we have ANC here, which is anchor protocol, up 17% on the day. This is a staking platform.

The reason why, in my opinion, this is going up is that people are flooding to staking platforms because they still want to make money in this market no matter what happens. So that’s why I think that’s happening. With that said, if you do want to make money in this market, you can do it on Jet-Bot. You can stake your crypto on crypto earn here up to 2000% APY. You can buy and sell cryptos here and copy best traders and follow all their deals automatically. You can use them yourself for that staking to get that passive income, but with that said, on top of staking, we have just about all of the opportunities in the world right now.

Anything that you wanted to buy back when Bitcoin was $69,000; now is essentially 50% or more off and that’s why it’s so important to think long term and only invest into projects that you genuinely believe in. If you invested in something when it was, you know, 100% higher than it is now, which means it’s had a 50% drop, you now have the opportunity to get that at a better price. That’s why we’re always dollar cost averaging here in the market and that’s why I’m consistently buying every day. If this last, let’s say two years, like the last bear market basically did, it pumped so ridiculously much after that, the opportunity that I see the risk to reward in investing when the market is super red is so much higher than when the market is super green.

If we do head over to the Bitcoin chart, right where we are sitting right now, we’ve got a 47% drop. So if we just head back to the last ball run, which seems super insignificant when you put it on this chart.

Let’s just check out what a 47% drop would look like on this chart. From that mark, we can drop a further 65%. So you can still lose significant amounts of money here if you’re playing with short-term projects like it’s still an opportunity in the market. You need to understand that there is a massive fundamental difference between short-term and long-term even today as we have now dropped below that mark that I was talking about on this chart.

We have currently dropped below the mark that I was watching. I was watching that $37,000 mark. We have dropped below it. So I have secured some profits in projects that I got into in these sorts of areas. I’ve closed some of those positions simply adding to my stable coin bag. I can buy the dip. At the end of the day if we do pump from here, I’ll miss out on 10% to 20% gains and I can just get back in or we drop another 65% over the next year or so. I can still dollar cost average more into my long term place, so I close some of my much higher risk plays in order to have stable coins to buy my long-term holds and that’s my mindset. That’s why I’ll continue to add to Bitcoin and some of these other coins going forward.

[This article is a transcription of a video made by Conor Kenny]

Original video: https://youtu.be/ddI7f2A2VpU ]