Welcome back,
The entire crypto market is starting to fall down even though the FOMC meeting is around the corner. In the next two days, we are going to see it go live and then the most anticipated decision will be given to the world. While the speculations are still high and we all know that rate cuts are going to happen in this FOMC meeting, still the market is seeing a dump.
As I have shared in my previous blog, there will be a flush out that will arrive in the market before the FOMC meeting if the rate cuts are going to happen, and that is exactly what we are witnessing right now. In the next 24 hours, the market can come down to liquidate the long positions and then in another 24 hours the market will start to react accordingly based on what the Federal Reserve is going to do.
While a lot of people might panic and take decisions that are not going to benefit them, the smart act at this point of time is to hold your bags and stay away from trading in options because that is where you are going to get liquidated in the next few hours. So stay away in this critical time from options and make sure to hold on to your bags. If you are getting this dip, make sure to utilize it. If you have USDT, go and buy your favorite token.
If you ask me, I have already shared my testing portfolio and shared about six tokens in which I am interested and I have invested personally. I am going to increase my positions in them. Personally, I am looking forward to increasing my position in ENA and PENGU because they are two of the strongest tokens in my opinion that were added to my testing portfolio. So that is how I am going to react to this turn. I am not selling anything right now, I am going to hold on to my bag and only increase my positions because I know rate cuts are going to happen and the market will react positively after that decision is announced.
The market rewards people who have two qualities. You either have to be a person with a lot of patience or a person who is quite daring. In either of the two cases, the market is going to reward you. If you are patient, then obviously you are going to be a good long-term investor, and long-term investors are paid well compared to traders. And if you are daring, then you can take decisions where you sell high and buy back low.
Like I did recently, I sold Pengu at almost the peak value it achieved and now I am looking to buy it again as it is coming down. So that is how you can stay in the market. But to be on the safer side, make sure that you have a lot of patience because without that you are not going to survive this market.
Stay tuned for what is going to happen in the next few days because they are really critical, and as I always say, do your own research before getting involved in anything new. There are lots of tokens that are going to come into the market and try to scam you as I also shared in the post yesterday. So make sure you do your own research before investing your money anywhere in a new place.
Thank you and happy trading everyone.
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