https://read.cash/@francis105d1/and-now-what-what-to-do-next-731ed101
Well, the whole cryptocurrency market has been dumping in this long weekend, I guess you could call it a Memorial Day discount, for those with fiat currency in their pockets and an appetite for current prices. Those who bought in the previous lows are sitting pretty right now, but the market no one knows where it will take us, and whales for sure will try to capitalize on dumps and pumps.
That being said what can the ordinary person do in this situations, pretty much nothing but sit pretty and start preparing for the next dump, if you are holding Bitcoin Cash and you bought at $1000 or more you are having some nasty unrealized losses, and if you bought at around $500 you will be okay at this point. Unless the price dumps below $400 many will not be okay.
Now those holding Bitcoin Cash for the long term have no other choice but to wait for the market to go back up, and for those who believe in the peer-to-peer currency idea today, it could be a better entry-level to accumulate more satoshis in this market. And others who don't believe that much in the vision could end up selling their holdings today, and never look back.
I do believe that it is when the markets are down when you make your money, if you were to sell when the price was $1600 and you buy today, you will be making some good profits and you will be getting your initial satoshis back. In my personal case, I didn't sell at the top and I am not buying right now. But I am planning my next move when it comes to holding Bitcoin Cash.
I plan on saving some fiat currency to buy some Bitcoin Cash in the future because today I don't have any left to take advantage of this fall in price, the market may dump to previous lows, and by that what I mean is that it is possible to see Bitcoin Core BTC below $10,000 and even below $3000, that will mean that Bitcoin Cash could see its all-time low again which was around $75 to $100. Why so bearish?
It is very simple when it comes to the market there is always a probability for the price to go up or down, and a price of $3500 for each BCH is possible the same is possible for a price to hit $75. What I am saying is there is the possibility for the price to hit all-time highs as well as to hit all-time lows. And the only thing you much do is to be prepared to buy into those opportunities.
As such I do think it will be a good idea to always have some cash to buy in case you see a buying opportunity in the low levels, I'm not saying that those prices points will happen for sure, I am just saying to have some fiat currency around because you don't know when you may need it to buy the next dip.
Buying today could be seen in the future as the best idea ever because it is possible also that we never see current prices again, my final message is that you should hold what little Bitcoin Cash you may have and don't sell, and if the price comes down, even more, to have some fiat at hand close by and ready to buy some more satoshis.
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from Bitcoin - A Peer to Peer Electronic Cash System https://ift.tt/2SFDMID
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