The Bitcoin Fall, FUD şi FOMO
December 2017 and half of January 2018 were the best months since the concept of cryptomones. Increases were incredible, huge gains, very profitable investments. For those who knew what to invest, of course.
The end of January though was bloody and black. Because it was actually black. The falls were as violent as the ups and downs of that period. In fact, much more violent. Some talk about the total failure of the crypto markets and their deaths. Yes, including Bitcoin.
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Everything started as a result of Chinese news, where a senior official from People's Bank of China said that it was intended to cut back on cryptocurrency. At the same time, South Korea, one of the most open minded countries in the world, announces that it INTENDS to close the exchanges due to the high volatility of the crypto. Their logic is one of stupid people: as when people lose money the people do not blame the government.
These two news led to a FUD (fear, uncertainty, doubt) and to a violent FOMO (fear of missing). So violent that the price of all the coins fell by the same pattern in half. The world sells broken and takes money into fiat. There is so much panic, as the volume of total capitalization has actually halved and will reach about 400 and a billion, from 800 and something.
It's the most difficult for the beginners. Everybody says it, not just us the @coinsquad. A year in crypto, for everyone, it's like 10 for the relaxed ones. No matter how experienced and patient you are, the falls affect you. That's why the feeling and general urge to keep, do not sell - #HODL (not a mistake, it's a new meme invented for the crypto market).
Do not panic. Stay calm. Detach yourself. Do not look at your portfolio for a while, get out of the house, beaten in the snow, take your kids to the mall. Look. If you are not a trader, forget the charts. If you have heart problems, invest only a little so little as it will not affect you when you lose, though practically with patience, you do not lose much money. Panic kills any beauty, including the inside. Don`t forget!
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