CRYPTO MARKET VOLATILITY: A SEASONED INVESTOR'S ADVICE‼️‼️‼️‼️‼️‼️‼️⚠️ I see a lot of fear, which is normal. It's not pleasant to see your portfolio balance drop by 30% in 3 months (for spot traders) or get liquidated in a few hours (for futures traders). But, having started investing in crypto in 2016, I've learned a few valuable lessons:
- HOLD ON TIGHT: When the market goes down, avoid touching your portfolio. Hold on to it, or you'll regret it later when the market bounces back. Remember, in spot trading, you only realize losses when you sell at a loss.
- DON'T FOLLOW THE CROWD: Don't take "expert" opinions too seriously, and don't let them influence your decisions. No one can predict market ups and downs; they can only speculate. One thing is certain, though - the market won't go down forever! In conclusion, it's up to you to hold your portfolio. Be patient, control your emotions. Not everyone will win, but strong-minded individuals have a higher chance of success. And remember, take profits when the market is up - that money will come in handy during times like this!
Bitcoin drops below $54K as crypto liquidations near $665M Approximately $222 million in long Bitcoin positions were liquidated in the last 24 hours, as BTC's price reached its lowest level since February. Bitcoin hit a four-month low of $53,499 on Coinbase following news of Mt. Gox’s latest cold wallet transfer impacting the markets. BTC began its decline around July 5 at 4:19 am UTC, reaching its lowest point since late February, according to TradingView. Meanwhile, crypto liquidations surged to $664.5 million over the past 24 hours, the highest in two months per CoinGlass. Bitcoin has since slightly recovered to $54,300, down around 7.4% in the last 24 hours. Other major cryptocurrencies, including Ether and Solana, also experienced near 10% drops. ETH fell to $2,898.20, dipping below the key $3,000 level it had maintained since mid-May, according to Cointelegraph Markets Pro. Crypto liquidations in the past 24 hours included $584 million in long bets and almost $82 million in shorts, with long BTC positions accounting for $222 million of the total. $BTC
