Don't catch a falling knife when you BTFD

in LeoFinance2 months ago


Looking at the state of the crypto market, it is easy to understand why many people, including me, are excited about the numerous opportunities presenting themselves. A lot of assets are dropping dramatically, and in the process, opening up an opportunity to get them at low prices.

Personally, I'm excited by the prospect of adding a lot of tokens to my wallet. At the same time though, it is important to be watchful and only risk what you can afford to risk.

Depending on where you are on the rekt scale, you're most likely experiencing some emotion. Now, regardless of how you're feeling, it is important to dissociate your feelings before delving into the market again.

What I mean is, if, for example, you've been adversely affected by the mess of a market, you might be eager to get back in and scalp up some profit. On the other side, you might be looking at so many "cheap" assets and aping into the market without a care in the world.

In both scenarios, it is important to avoid catching a falling knife because that's how people get screwed. In any case, ensure you only invest with an amount you're comfortable with losing because I suspect that we'll be experiencing some more insane level of volatility.

There's time

One thing I'm keeping in mind, as I seek out investment opportunities is that there's time. If you've experienced a beer market before, then you'll know that the recovery isn't going to be overnight.

This means that there's enough time to slowly accumulate stable coins that you can then use to invest in the plethora of assets that are available. Personally, I'm going to be using my HBD and a little bit of Hive from post rewards to seek out opportunities.

My HBD savings offers up to $120 per month, with $100 pulled out from the regular income, I will have some firepower to attack these opportunities. It is at this moment that I also wish I had a job outside of the crypto industry, as that would give me enough fiat to play with.

Anyway, the point is that there's really no need to rush into anything. It is important to continue watching the market and only invest with little amounts at a time because no one actually knows where the bottom is.

Of course, there are assets like Hive with potential and will always be a good buy, no matter how much you pay for it. If you see these kinds of opportunities, I'd even recommend that you stick with them, rather than continuously look out for riskier and naturally, potentially more rewarding investments.

Remember the basics

Once again, it is important to remind everyone that you should only invest what you can afford to lose. Any deviation from this rule could have a cataclysmic effect, even if you're investing in safer assets.

Ideally, right now, many investors should be looking at earning interest rates on Stable coins but unfortunately, many people will be scared of that path now. The situation with Luna will bring even more negative press towards crypto, and that could lead to even more sell-offs in the process.

This is why everyone is encouraged to trade cautiously and play safely in this market. Traditional cryptocurrencies have been known to be volatile, but these days, even stable coins are getting cooked, so stay frosty.

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I feel lucky as I have had some idle USDT for a while. Though the coins are on sale, no way that I can open a new position under these circumstances, to be honest.

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I bought the Hive dip, and I won’t regret it, I am sure of that. But it is true, you don’t have to rush into things. but Hive below 50 cents just looks too good to leave it there!

I totally get that. If I had spare cash, I'd have bought some hive as well.

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Yea, you really can't go wrong with Hive. I've bough some as well

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I'm just going to keep working hard on growing the funds that I've got and consolidating the positions that are already paying.

Just got to sit back relax and let things grow.

Hey Belemo 👋 I'm a new follower and have been enjoying your content so far. Keep up the great work 👍

Hello, thank you for reading my content. I appreciate the endorsement 😁

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Catching a falling knife always hurts. When the market crashes, there is a temptation to get cryptos at a cheap price. Buy low is not a good option if it gets lower.

The thing is, sometimes we might not identify which one is a falling knife, otherwise, I can bet no one is willing to get their hands cut while catching the knife.

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Best route is to invest slowly and spread it out over a period, rather than simply apeing in at once.

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Yea, it's important to stay focused and avoid acting on impulse.

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I'm definitely using this opportunity to increase my holdings of my favorite assets such as BTC, HIVE and LEO.

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Good choices. Safe assets in the hands of a community run project

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