Market corrected today. Down about 5% to $5200. Yesterday everything was green and good, today it’s a sea or red. Things can’t run up constantly and that fast, they have to come down. Just the way it goes.
Unfortunately, I gambled on it happening later and not the very next day. I bought into Achain and knew it was going to break up or down by looking at the buy and sell orders. I bet on up and lost. It happens. Now I just have to be patient.
This is something I need to work on. I know and tell people to be patient but have trouble doing it. I knew I should wait to buy into Achain but did, anyway.
With this volatile of a market, if you just wait, many times you will get the buy or sell price you want. The price has to be within reason though, nothing crazy.
This is another reason why starting with small amounts is a good thing. The amount I invested was $100. So nothing crazy. It allows me to make mistakes and learn, but not be hurt so bad from a loss.
I am only down 10% on this trade as of now, which isn’t bad. Just need to be patient and wait for the price. If I would have been patient in the first place I could have gotten a better buy in price though.
Well not exactly breaking news, but some positive news. NASDAQ came out and said they are open to becoming a cryptocurrency exchange.
This is obviously good news. It makes sense though. These people are not stupid and see the amount of money that can be made. They want their cut.
They would like more regulation before considering it. Which also makes sense. Regulation of some sort is coming and probably is needed. Hopefully whatever happens doesn’t hinder innovation or profitability.
And now for your viewing pleasure…..