The cryptocurrency market is a volatile place. Because of the volatility it is important to be diversified. Dips like this will happen. Remember that we are in this for the long term, this is just a speed bump.
When the market dips, emotions can run high. Emotions can be your worst enemy when investing. It can be difficult, but you do not want to make any decisions based off your emotions.
Take a step back from everything. Do not panic sell.
Volatility and emotions can also work against you when a coin rise’s.
NEO is a long-term hold of mine. Over the last week it went from around $80 to $160. Many people got FOMO (Fear of missing out) and bought between $140- $160.
I even thought about it. I took a step back and thought better of it.
When it got to $160 it pulled back. During the next two days it fell from $160 to below $100. When it got below $100 I bought more.
A day after I made this purchase of NEO, below $100, it is back up to $150. I could get this return on my investment because I did not let emotions get in the way and I let the market volatility benefit me.
Again remember, dips do happen. Over time, you will not remember most. Just keep emotions in check and go do something else if you need to.