It is undeniable that the current market situation is causing some nervousness among investors in crypto. This has been mainly concentrated throughout the ranks of new investors, although even some of the more experienced have begun to express a degree of concern.
This leaves many on the outside who want to be involved, and many who are already involved in the sector, wondering how to best protect themselves in the current situation and be adequately prepared for future similar moments.
Know the Market Well
Before getting involved in any project regardless of whether it is crypto related or not, you will have performed due-diligence and at least know the basics of how to act in that market. A little akin to not studying for a school exam, failure to research is simply setting you up to fail.
There are a diverse range of resources available to collect information on the crypto and blockchain sectors. One of the best though is a new knowledge sharing platform launched on the EOS network called Trybe. This is a platform which literally incentivizes the sharing of knowledge in the crypto/blockchain fields. Besides the accumulation of knowledge, how better to learn about a market than within that exact market.
Take Calculated Risks Only
There is a time and a place for taking risks. These can pay off handsomely at times and are absolutely required in certain situations. A fluctuating market which is mostly downward trending though, is no such place to be taking risks. This is almost as true for hardened professional traders as it is for the average man in the street. You have to know when to be patient and just ride out the storm.
Be Willing to Take a Loss
Finally, it is easy to repeat something you will hear in every forum across the sector. Never invest more than you are willing to lose. This expression is still as true within the crypto market as it would have been at the very beginning of investment history.