What should we do in order not to be least affected by the decrease in the prices of crypto money?

View this answer on Musing.ioNot holding crypto is likely the best option to remain unaffected. If you’re in, you’re affected. Second to that, you could convert ...

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View this answer on Musing.io

Not holding crypto is likely the best option to remain unaffected. If you’re in, you’re affected.

Second to that, you could convert to USDC, which has a stable price and can be converted to something else when the time is “right”. It seems easier and less costly than converting to fiat.

Other than Steem and Minds tokens, I do not hold any crypto in meaningful amounts. I typically use cryptocurrency for transactions to buy something. That means I’m in and out quickly to avoid the effect of falling prices, or even rising prices. Any leftover is typically to cover gas fees on future transactions.

Some would advise you to dollar cost average. That is to keep buying as the price keeps dropping so that your cost basis decreases. The assumption is that prices will increase again at some point.

Buy, hold, and pray are the typical response. Or, invest for the long term. This type of view makes you think you have control. However, it’s a spectator sport. You might get lucky.

Diversification doesn’t work in the current market because all coins are going down. 

I suppose it will depend on your view of crypto, like a Forex trader, or like a currency for trade. If you trade crypto like Forex, it doesn’t matter if the market goes up or down, you make money both ways. Traders have short-term views. They accumulate small wins and try to keep losses small and less frequent.

If you use crypto for business, you don’t hold it long enough to be affected.