What To Do When Crypto Is Dropping?
Interesting idea today from @Roginich about what to do when crypto prices are dropping.
Many trader-savvy folk, as I understand, simply convert their crypto into so-called anchorcoins which retain their value even though other crypto prices are dropping. The anchorcoins are pegged to something stable (e.g. gold or USD) so that any crypto gains you have made can be kept safe, ready for when the market is moves back up.
Anchorcoins include: Tether, Nubits, DAI and X8.
I think the best thing is to be courageous hold your coin(s) and not to panic sell or buy, it can swing to any direction even as it drop today,it can as well drop further the next hour and or, rise further too.
@citycrypto You're right - the power of hindsight is strong.
I guess I was just thinking that if I'd converted my crypto to Tether about a month ago when a few people were telling me crypto will drop, Id be much better off today!