Morning Shibadults. Thought I would make a quick post for those of you that need a quick kick in the keister when it comes to investing.
Now, with Kraken stating that they are delaying the SHIB launch, there was an immediate FUD storm from the major news outlets. It’s almost like they had these articles pre-written and ready to go, but that’s a discussion for my tin foil hat thread. Anyway, the price has slightly dropped, and we are seeing more FUD spread. Now this is where you my greenhorn investor come in.
A lot of people jumped into SHIB after hearing about it since the last leg up, and are hoping to make a quick buck, selling at the next minor bump. You may be one of them, and that’s okay. This is called momentum trading and can sometimes be a worthwhile strategy, but most of the time even if you make money, you’ll lose a good chunk to short term capital gains. Most of the time, you’ll end up losing money with how volatile crypto especially can be. This is why buying and holding is a tried and true strategy. Otherwise you’re just gambling.
Crypto prices are inherently volatile. Again if you are new to this, please be reassured that a 15% drop in a day is totally normal. Like really. In stocks this would be an abandon ship scenario. In crypto, it’s just another day in the neighborhood. This is why it’s important to occasionally zoom out and look at the entire growth chart. Heck, Bitcoin was less than a third of it’s value this time last year, now look at it. Crypto investing is a wild ride, and if you can’t stomach it just delete whatever app you’re using and don’t reinstall for a year. You’ll most likely come back to a much fuller portfolio.
The last thing to consider is the utility of the coin itself. I believe in SHIB and hold a significant amount, an amount that I won’t even consider touching or selling for at least two years to see how the rollout of Shibarium goes. SHIB has such amazing potential with their ecosystem that is being rolled out right now, that I think it’s a slam dunk. Yes, there will be peaks and valleys along the way, but this could end up being a life changing investment long term.
TLDR: If you are truly INVESTING in SHIB, don’t sweat the minor price swings and corrections, it’s totally normal. If you are GAMBLING and hoping to be a millionaire by Christmas, check your expectations.
Disclaimer: this is not financial advice, I am just a Japanese hunting dog on the internet.
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