Nope, still in cryptos ... not selling a thing. This moment now is truly the FUD. It's really weeding out those who are super weak -hearted. If anyone goes back in time to other years when Bitcoin and the general crypto market was down for long time ... this is normal. These down periods are normal. People just have short-term memory.
You are viewing a single comment's thread from:
You clearly haven’t been in the crypto scene at all if you think that it is time to throw the towel and give up due rock the value. Just because crypto was over hyped and ran up in numbers and is now being corrected doesn’t mean crypto is dead. Thats like literally saying that if the stock market hit recession we sGould firstly get out of the stock market, and second never ever touch the market again. Anything that goes up in life has to go down, and if you look at a year to date chart you can actually see that crypto is still near the same that it was last year at this time.
I guess in the description of your question you are also answering your own question.
I haven't given up yet. There are still many things that can happen in cryptocurrency. For example, ethereum is still working on developing its ENS structure and will eventually allow people to register an ENS address with six or fewer characters.
It is difficult to keep the faith with all of the controversies surrounding cryptocurrencies and the consistent price declines that we've since about January with some small rebounds that lasted an extremely short time. My advice would be to pick a few that you understand well and believe in, if you then decide you want to stay in, you should understand that it's a long term investment and all investments have ups and downs. Nothing in this world consistently increases in value without ever going down as well. It's the nature of any free trade market. When markets are low, people tend to buy and hold, when markets are high the experienced investors will look to sell while the less experienced investors will think they're missing out on something extraordinary in generally buy in at the higher levels only to see the prices drop as the more experienced investors start to sell and realize their gains. Hang in there, stick with it through the down times, and at some point if you remain liquid you might just find yourself in a better position. I've also noticed slightly that since the inception of cryptocurrenciess it does seem that it runs about a 3 year cycle where there's some significant down times but then after a few year period there tends to be a significant jump in comparison to the usual carry values.
Given up on cryptos? OFCOURSE NOT!
Be patient and HODL as much as you can. Don’t sell BTC or other crpytocurrencies at these low prices. It is only a loss when you sell and realize the net losses. What is certain is that in the long run, the prices will bounce back and shoot up. Probably in a series of quick and sprint bull-runs. The concept of "bull" and "bear" market is not applicable here in the traditional sense.
Find something else to do instead of refreshing the CoinMarketCap.com website for the cryptocurrency prices every 5 minutes.
View this answer on Musing.io