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Warren Buffet suggests us what to do when market is going down

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57 minutes ago, TheHodlerFerdinand said:

I see a lot of people asking why the market is plummeting. I strongly encourage not to do so. You will never fully understand WHY the market is going down. Lots of you could be annoyed by this statement. I'm sorry, but thats my opinion. You can't and will never fully understand why a market is going down. It could be a simple correction after we are up 10000% from the beginning of the year, people buying Xmas gifts, manipulation or Santa Claus selling his Bitcoin (beacuse indeed,  he will hodl XRP).. whatever reason. We don't know.

The good news is: you don't even have to.

What you really have to do is to chose few (not many, but few) really really good digital-assets/crypto-something you understand very well, with a great team, clear purpose and stunning technological advantage over the others, secure storage them and hodl until u think they're undervalued. That's all.

I bought a lot of XRP at the beginning of this year and try to sell the high/buy the low multiple times to end up with more. I ended up having less. 

You could say I'm a bad trader, and this could be certainly the case. 

But don't believe me, just believe the best advice, given by the greatest investor of all time, on what to do when the market is plummeting: 


You are welcome.

See you at 10$.


Though I'm not the biggest fan of WB, I definitely agree with your advice and I think we may have had similar luck in trading this year.  Just need to keep holding like my original plan last year.  I've picked a handful of projects with huge potential and just gonna hold it.

Losses only occur when they're realized.  Might as well keep stacking right now.  Stack and hold, stack and hold.

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man that's the story of my trading life. traded in the stock market for about a year and half and lost money around 15k 3 times partially cause i moved my money around a lot cause  i enjoyed day trading and every time i made it back after a few months thankfully. 2 months ago i took the biggest blow ever and lost 29k in about 3 hours from two bad trades, I laughed on the outside but cried a little on the inside. At that point, I had a little bit of money left in my account and figured that last blow finally finished me and chances of recovering were minimal but I figured, I joined the market to get rich and have an awesome life in the first place and knew that the the chances of that happening were prob less than a percent, so I decided since I still had a little bit of money left, I'd keep going until I was fully dead in the water. A few days later, I was working and heard a coworker mention to another coworker about bitcoin and how crazy fast it was rising. That caught my attention, I did my research, decided bitcoin eventually would a lost cause due to the problems with it, but their was one article that mentioned something called ripple, read further into rippler for about a week learning everything about it and realized it was pretty much an undiscovered gold mine. Transferred the money i had left from the stock market, into a newly created bitstamp account and bought as much xrp as i could about a month ago when it was around 20 cents. I continued my constant buying and selling and I could never get lucky, ripple would never go where i wanted it to go, so I gave up and said I'm done with this day trading ****, since i was just losing money and coins, and then a few weeks later (december 12), the spike happened. Lo and behold, i made all the money i lost from the stock market back and even more (if i kept day trading, there was a chance i could of missed that spike), now the dream of getting rich is back on and closer than ever and i ain't selling a single coin until i get there and maybe not even then. i would of honestly bought a **** ton more earlier this morning when the price fell down all the way to the 70s cause I didn't have a doubt in my mind that it would rise to 1.20s again and double whatever u put in it, it's just that the process to get more money into ur exchange again is long and annoying and the credit card option requires ur card to be 3d secure or some mumbo jumbo that I'm currently trying to figure out for when ripple falls again. wish u all luck, i agree, just hodl

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