December 5, 2020

BtcStorm

Bitcoin & Tech news

Little Bitcoin Crash Survival Guide: Win or Learn

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Read Time:4 Minute, 38 Second

Dear beloved crypto community. The same nagging question probably arises in all newsrooms in the media sphere of our little ecosystem: what are we talking about this morning? Is it really necessary to go back over the events of the past 24 hours, while knowing that the situation is still too hot to draw any lessons from it? Should we act as if nothing had happened, and continue to run the international news as if everyone was not knocked outstanding, stunned by the circumstances? Bitcoin – and with it the whole crypto market – suffered the biggest crash in its history and lost almost 50% of its value in a few dozen hours, these are the facts in their rawest objectivity.

But the hour is not yet at the fatal leap through the window on the ground floor! This is a good opportunity to remind you that even in the middle of the worst crash that Bitcoin has known, and despite perhaps your current state of mind, you are far from having lost everything.

Bitcoin trader crash and turmoil

If you are a Bitcoin trader, either you have lost nothing or you have gained something fundamentally more important than money.

Let me be more explicit: if you fall into the category of those who see Bitcoin (and more broadly the big family of altcoins, a bit like comrade Cryptoloco ) as one more speculative instrument, you are supposed to master some vital tools for the apprentice Cub scout on Wall Street: I called “Stop-Loss”.

The “stop-loss” (it sounds less good, huh), or the barriers which, correctly set up on your order book, have allowed you to see your positions close automatically, once certain low thresholds are hit. The ultimate and fatal weapon of the Bitcoin trader against the crash (especially at night)

Bitcoin traders who have limited their losses

If this is the case, you belong to a first category: you acted as a responsible and efficient trader. Obviously, you lost some feathers in the fight but your BTC positions were liquidated and converted (into a stable coin perhaps), saving you the big plunge. As such, the events of the past 24 hours are painful, but you have seen others, and it will take more to cure your devouring passion for turbulent crypto values.

But it is possible that you belong to the second category …

Bitcoin traders who have gained … experience

Perhaps a little badly advised, or not sufficiently trained, you did not take the time necessary to learn the basics and certain fundamental rules concerning Bitcoin investment.

Stop-loss point or other esoteric inventions, a little carried by a good big FOMO of families, you “entered” in Bitcoin a few weeks ago, when it crossed the 10,000 dollar mark. The moon seemed to be in range, you would inevitably become rich. In your defense, we all believed a little.

But here it is, you have officially got to know Bitcoin, an asset that is governed by its own rules, sovereign of a kingdom where uncertainty reigns.

So you have just taken what is termed in technical terms a TGBR: a “Very Large Broth of your Race”, and it is possible (probably in reality) that you will be bitter and in shock. You have just lost 50 to 60% of your investment in a few days, which could shake even the most solid. Your family, your friends, however, warned you: Bitcoin, it’s a scam, it’s the whales’ fault, Peter Schiff was right, etc.

Bitcoin is not responsible for anything

But voila, I have a somewhat unpleasant truth: Bitcoin has nothing to do with your troubles. Bitcoin is content to chart its course, one block at a time, with the sole ambition of offering an unprecedented alternative to old corrupt systems and benefiting only a powerful financial minority.

Satoshi Nakamoto probably did not create Bitcoin with the idea that it necessarily reaches 1, 1000 or 1 million dollars.

The real thing, the only reason that leaves you gasping and a little haggard this morning is your unpreparedness as an amateur trader. Quite sincerely, you have some excuses: the crypto ecosystem is no more or less virtuous than the others, and a whole small industry works by letting you believe that a quick training or a few videos will make you trading aces.

Nothing could be further from the truth. Trader is a demanding job, which requires a real training and, whatever the stereotypes, the authentic traders are more discreet craftsmen who are content with little, but on a regular basis seeking to bend the statistics to their advantage, than to Shivam Singh, making $ 1 million “hits” every week.

But since crypto trading is customary for huge variations (and has generated a few tens of thousands of millionaires, 17,000 to be precise ), everything seems possible, including for the complete neophyte…. Which sometimes ends up like many today: permanently – and perhaps permanently – disgusted with trading, Bitcoin, and everything related to cryptocurrencies.

Except that following this trend, you will be victimized twice: the first today and the second in a while when you will have noticed that the market has picked up colors because this is how things have been going on since always under the capitalist sun.

Now is the time to get up and get inspired by a famous maxim from Nelson Mandela :

“I never lose. Either I win or I learn ”.

On “Bitcoin trader against the crash

http://www.techgrits.com/cryptocurrencies-bitcoin-and-company-fall-to-unthinkable-levels/

On “Shivam Singh

http://ishivamsingh.com/