A few friendly tips for the newcomers

Over the last few weeks we've seen a huge amount of price movement in almost every coin in the top 100 and beyond. Along with the new bullish market sentiment, I've seen quite a few new users commenting in the daily who are new to crypto and have just brought in during the recent hype, I thought that now might be a good time to share some knowledge I've picked up over the last few years.​These market corrections are brutal - but necessary! - No market just goes straight up, no matter how much we wish it could. In order for BTC and crypto in general to grow and flourish its important that markets break new ground before having a correction or some sideways movement to cool off a little bit. The current market rally is a classic case of over extension and many of us were expecting a cooldown, we just didn't know when! Don't look at your portfolio for a few days and take some time off. Although these corrections are brutal, once they bottom the recovery is often fairly swift!When in doubt, zoom out - Along a similar vein to my last tip, we've seen crazy gains over the last two weeks, if your worried about losses, just zoom out and look at where we were two weeks ago. Most coins are still up a significant amount in the last 7-14 days. At the current rate BTC could dip another 25% before the end of the month and we'd still finish November with the highest monthly close IN HISTORY! So try not to fret too much.This is just the beginning - If you're invested, your still an early adopter (congrats!). If 2017 was anything to go by this is still just the very early stages of this new bull market. Expect to see even crazier gains as we break all time highs and beyond, also expect more 10/20/30% even 40% retracements as BTC and alts break new ground.Only invest what you can afford to lose - I made a thread around a week ago along the same lines as this comment, remember to only pony up what you can afford to lose, especially with all the economic uncertainty at the moment. Crypto is still a very young market and it could all crumble to 0 with the wrong combination of events! (although this is unlikely).Enjoy the ride - Crypto and this sub is a great place to crack jokes, learn new things and chat with others about your shared interest in crypto. Enjoy the ride, learn some new things and don't stress too much!Hope this helps newcomers/anyone feeling disheartened about the dip today.Stay safe xo

Submitted November 26, 2020 at 06:08PM