How to Combat the Urge to Panic Sell Bitcoin? Cryptocurrency news has it—Bitcoin isn’t having one of its finest days. After its December 2017-highs, the fall by more than 50 percent in its value has been pretty disheartening. At this moment, while the experts are busy scratching their head in predicting market movement, the space is struggling with FUD. And a large credit for that goes to the mainstream media. So, even when the market is braving up to go on another bull run, panic selling is taking it back to the bearish market. In fact, today, one of the biggest challenges for Bitcoin traders and investors is to combat the tempt to panic sell their holding. If you’re in the same place, here are 2 basic tips to help you: I.
Avoid consuming too much news The news and media spectrum of cryptocurrency world is still at its premature stage. Even the tiniest bit of things are sensationalized and hyped to unparalleled margins. People write obituaries for Bitcoin every other day. DON’T BUY INTO ALL THESE THINGS! Avoid consuming too much news. Select a few trustworthy sources and then rely on them rigorously. Keep a blind eye and deaf ear to other ICO news, opinions and updates.
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Have a solid trading/investing strategy You don’t really need to panic in the first place if you’ve got the right strategies. Meaning, regardless of the market trends, you don’t need to be scared if you’re moving in the right direction. So, if you don’t already have one, map a solid trading/investing strategy. Grow your knowledge, read the market movements, ace your analysis, and then make informed and anticipated buying and selling decisions. These are 2 very basic tips to help you combat the tempt to panic sell your Bitcoin. Indeed, the Bitcoin market looks to be in bad shape. But that doesn’t mean good days doesn’t lie ahead. Just keep up and have faith. Cryptocurrencies have a long way to go.