I've noticed that some cryptocurrencies are not performing well at the moment. Especially the alt coins are dipping. Sometimes I used to wonder if it should be the natural thing, because only when the value goes down will people invest, and when the value goes up, people will sell, and the cycle continues. This is very natural in any market. The interesting thing here is that we should know when to enter and when to exit. That's what makes anyone a good or successful trader.
I was waiting for the price of Hive to reach 25 cents for a very long time. I bought some Hive when the price was around 21 cents and wanted to see if I could book some profits. Unfortunately, it did not happen. Sometimes it is even more disappointing when the price keeps falling and we don't have enough liquidity in hand to purchase more. I know for a fact that the price will recover, but mostly when the market is low, we always fear investing. When the market is at its peak, we again fear selling because of greed. We will keep thinking that it can go further up.
Last week, when the price of Hive touched 23 cents, I should have sold what I purchased. If I had done that, I could have again bought it back at 20 cents, but the greed did not let me sell at 23, and asked me to wait for a bigger price. When it comes to trading, this fear is something that never leaves me and makes it hard for me to do swing trades. Most of the time, I have noticed that I don't own any stablecoins when the market is really very good for buying. Right now, the price is about 19 cents, and it keeps hanging around there, but I don't have enough stables to buy any. I also fear what if I buy and the price goes down further.
For those who just got to know about Hive, now is the right opportunity to enter. Maybe people can buy now and wait to book some profits when the price becomes better. Unfortunately, now is not the right time to book profits for many people.
If you like what I'm doing on Hive, you can vote me as a witness with the links below.
Vote @balaz as a Hive Witness
Vote @kanibot as a Hive Engine Witness
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