sdbs
@sdbs
If you're feeling completely lost right now, that's normal. The market conditions are pretty tough right now. Here's a simple 5-step plan to fix your cryptocurrency portfolio.👇🧵
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sdbs
@sdbs
1️⃣Think about moving away from tokens that you don't believe in. It's a turbulent market. In such an environment, it's easy to get staggered by wild fluctuations. Make it easier on yourself by getting rid of tokens that are causing you stress.
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sdbs
@sdbs
Go through your entire portfolio and evaluate each position individually. Ask yourself: 🔸Do I still believe in this token? 🔸Would I be comfortable if it drops another 30-40%? 🔸If I hadn't bought it before, would I buy it now at the current price?
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sdbs
@sdbs
🔸If it drops another 30%, do I have the confidence to buy more? If you answered yes, hold it. If you answered no, it's probably a sign that you should short or reduce your position. 2️⃣Hold only what you believe in.
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sdbs
@sdbs
If there are tokens that you still like, even after a correction, that's a good sign that you should stick with those positions. Your goal is to hold assets that will survive the turbulence and thrive. This is usually only one asset - Bitcoin.
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sdbs
@sdbs
More often than not, $ETH and $SOL are also worth holding. But if there are other tokens you think are promising, but you don't hold them yet, start developing a plan to accumulate them.
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sdbs
@sdbs
Just make sure that your conviction is based on real theses and not just on price\highlights. 3️⃣Reduce positions that have been over held. If there were positions that made you lose sleep during the liquidation cascade,
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sdbs
@sdbs
this is a sign that you have over held positions and you should cut back on them - at least now many of them have bounced back somewhat. This can be done gradually if necessary.
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sdbs
@sdbs
4️⃣Stock up on stables, it makes it much easier to deal with volatility and allows you to take advantage of new opportunities as they arise. 5️⃣Carefully enter new positions.
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