The year of 2017 proved to be a mighty year for crypto when the market erupted and the world saw something that was absolutely unprecedented. Since then a lot of crypto traders have time and time again stated that the period between October 2017 to December 2017 observed the biggest bubble like never seen before for most cryptocurrency’s values.
The people, who survived this phase, underwent through intensive investment practices during the .com bubble and came to an agreement with themselves that the multiple Cryptocurrency Exchanges technologies are taken way out of contrast so much so that everyone hypes them up for a while and yet fail to determine their value when it comes to the long haul.
So, here are a few tips and learnings that you can consider for how to overcome and win against a crypto bubble burst.
· Be Like Chartists – Find Your Own Path and Ignore the So-Called “Crypto” Gurus
As we all know there are a lot of chartists associated with crypto trading schemes and many of them even deal with major crypto assets every day. Many chartists even conduct analyses to be performed by paying communities. However, these chartists are in no way unbiased spectators but hugely stimulate a bullish market outlook through their private investment practices along with their joint community forces.
As a crypto investor, this is exactly why you need to be chartist made out of your own good rather than relying on those people that claim to be the so-called crypto gurus. Instead, get distant for a while and start asking important questions to yourself - What will get new money to come into the crypto space.
There can be two ways: (1.) Either introduce a hands-on Blockchain application that operates solely without any money transfers that demean the value of cryptocurrencies or (2.) Scale Bitcoin to achieve immense success once again so that people again get involved in crypto trading practices.
· Don't Let Your Greed Get to the Best of You
When it comes to crypto trading, never let your greed or even underlying fear get to you and ruin everything that you have worked for. So this is what you should do - While you climb up the charts, keep selling in small amounts and then buy coins when you start shifting downwards. Basically, never tip the scales and remember to always maintain the balance.
A solid piece of advice like this will help you a lot on your crypto ventures; it will ensure that you keep your fear as well as greed at bay and carry crypto trading with ease.
· Learn From Your Failures
Crypto is brutal. And there will be more than a few occasions where you will realize that "The Pain Trade" is an actual thing. However, the pain trade only reaps profits the traders involved do not actually wish to happen where basically, when the market is booming on a bullish front then the pain trade is likely to decline.
The crypto investors who are trading on Cryptocurrency Trading Platform will gain positive results if they take advantage of this revelation instead.
· Calculate Total Trading Costs From the Inception
All cryptocurrency exchanges have some trading costs affiliated to them in one form or other. Although, some may be cognitive costs, most of them are in reality, exchange fees. If you do not calculate the total trading costs from the inception, you may be liable to pay heavy tax rates as a repercussion.
· Believe in Traditional Valuation Mechanisms
Much thought went in the support of traditional valuation mechanisms when the.com bubble occurred and stock trading went into a complete overdrive mode observing multiple weird exchange methods to happen all over the place and finally, resulting in the Internet to blow up.
Minor things like these tend to happen in the crypto market every now and then. Also, after a while you learn how to get used to such matters - In the cryptocurrency market, these things are simply known as "crypto affairs".
So, the next time a bubble roof materializes, you are prepared and can handle all the crypto challenges like a crypto virtuoso.