ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

Crypto Investments in the Red: "HODL"

Updated on March 6, 2018

Unhealthy Addiction

Investors monitor the cryptocurrency market looking for that much-needed positive upswing; however, when does interest in this area become an addiction?

In believe that interest in this area becomes an addiction when:

  1. Your spouse knows ahead of time what you're constantly looking at on your phone.
  2. Signing up for numerous just-in-time market alerts.
  3. Scouring the Internet for information on why the market hasn't rebounded yet.
  4. Checking the prices of cryptocurrencies every minute of the day.

Sadly I must say that this has somewhat become my life and I am close to seeking some sort of detox or intervention. You see, like many other investors, I took a significant investment leap at a time when the cryptocurrency market was exploding, set to reach "to the moon" levels. Unfortunately, I bought at relatively high prices and over the next few weeks, watched my investment purchases dwindle to almost half for what I bought them.

Things move fast in the world of finance. Two months ago, Bitcoin was red hot—to the extent that people were mortgaging their homes to get in on the action.

— Chris Morgan, Fortune.com

Just HODL. You Mean HOLD, Right?

So what are investors to do during a time when their investments are severely in the red? Well, if you believe that the cryptomarket still has the potential to grow exponentially, then the answer is easy, HODL. No, this is not the term "hold" misspelled. It actually stands for "Hold On for Dear Life," and that is precisely what a lot of investors are doing with their investments. Although we saw prices skyrocket quickly at the end of 2017, and then come crashing down just as fast, the market is showing signs of a slow but positive uprise. The potential is there, but it's going to take time for us investors in the red. Ron Lieber, a writer for the New Youk Times, advises that with investments, the smartest thing to do is to ignore the day-to-day ups and downs entirely, but whatever you do, don’t sell.

2018 could be the best year yet for cryptocurrencies.

— Julian Hosp, TenX

Can't I Do More Than Just Wait?

The answer is yes, diversify you crypto portfolio and make sure you stay up to date on what each of your investments is doing regarding fulfilling their utility/purpose. Take for example a cryptocurrency I invested in "DeepOnion," a cryptocurrency that is completely anonymous and untraceable with all transactions sent privately through the TOR network. I firmly believe in their utility and am very active regarding group discussions, and Twitter feeds. I am also versed in their roadmap, a tool that helps you better understand future milestones and the direction a cryptocurrency is going in. Knowing you invested in tokens/coins that have a healthy future in the cryptocurrency arena will help you sleep better at night.

To put things in perspective of where the Cryptocurrency market might be headed, consider that on October 1st, 2017, DeepOnion was trading at $0.75 per share and on March 1st, 2018 it was trading at $3.71 a share, a 500% increase in price. DeepOnion hit an all-time high of $17.66 set on January 10th, 2018. (Figures recorded and observed on WorldCoinIndex.com).

The only thing we can know for certain is that cryptocurrencies are here to stay and that their effects on human beings will continue to be interesting, especially as more research is being conducted.

— David Geer, The Next Web

The Future is Green $$$

With the cryptocurrency sector still in its infancy stage, the pickings are ripe, and the choices are abundant. Success; however, may be in choosing the right blend of coins/tokens and like all fine wines, the longer they sit, the better they get.

Disclaimer: As with all investments, there are no guarantees. Investors should understand all risks involved before investing. If you are considering investing in the cryptocurrency market, do your research first and make sure you do not invest more than you stand to lose.

© 2018 Mark Klincewicz

Comments

    0 of 8192 characters used
    Post Comment

    No comments yet.

    working

    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: https://hubpages.com/privacy-policy#gdpr

    Show Details
    Necessary
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy)
    Features
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Marketing
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Statistics
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)