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Bitcoin Crash - 5 Things You Can Do Now to Secure Your Crypto


 

The Bitcoin course and with it the entire crypto market have suffered another heavy blow. Bitcoin fell from $ 46,000 to below $ 42,000. 

1. Keep calm!

As is almost always the case with strong price losses, it is important to keep calm. Not much has happened yet. The Bitcoin crash was big, but not as immense as in the past few weeks. The frustration is understandably great. But we always have to think long-term when it comes to cryptocurrencies. That is why it is first important to stay calm and analyze your portfolio.

2. Calculate your profits / losses over different periods of time!

First, look at your portfolio and analyze how high your profits and losses are over certain periods of time! You can use periods like 1 month, 3 months, 6 months, and 12 months. You will recognize that despite the Bitcoin Crash, you have probably already made profits over a longer period of time. This insight will calm you down and possibly dissuade you from rash sales. 

3. Exchange for Bitcoin if you are on security!

In such uncertain times, many investors want to focus more on security. If you prefer a more secure investment, consider swapping altcoins for bitcoin. When you have made your income statement, you should have recognized which coins you used to make profits. Exchange these for Bitcoin if you want more security! Bitcoin is less volatile than other cryptocurrencies. A re-exchange in FIAT currencies would also be possible, but with that you will miss almost certain medium-term rate increases.

4. Consider buying more Bitcoin if you believe in better times!

The Bitcoin crash in the 40,000 to 42,000 area was predicted by some analysts. Therefore, the surprise for interested investors is not that big. Could the course continue to fall? That is possible. However, a medium-term trend reversal seems to become more likely with every price decline. Therefore, the current course for buying up bitcoins is very good.

5. Consider adjusting your investment strategy!

Have you always invested irregularly in Bitcoin and other cryptocurrencies? Then you could use this negative news about the Bitcoin crash to adjust your strategy. With Cost Dollar Average, you regularly invest in Bitcoin at certain intervals (weekly, monthly, etc.). This allows you to take advantage of the long-term increase in value of the Bitcoin course. The risk of buying too high and selling too low is reduced. So consider whether you'd rather invest like this.

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