The crypto bloodbath continues.
Just look at the CoinMarketCap pic below… all those charts are headed in the wrong direction for crypto investors.
And worse, bitcoin is getting close to 6k again. If it breaks, we could see another big drop.
If you’re scared and can’t sleep, you should probably sell.
But if you’re in the for the long-haul it’s time to HODL and get some funds ready for buying. There’s still lots of good news coming out despite the price action.
Realize this kind of price action is necessary in markets. We had a huge run in 2017. But towards the end it was very speculative. And likely some of the runup was caused by price manipulation.
After such excess, the market needs a cleansing to shake out all the weak hands. That’s what’s happening now.
The institutions are still coming to the space. It’s not happening as fast as everyone wanted. But nevertheless the news continues to be very positive.
You have Coinbase Index Fund which just opened for investment.
Fidelity is prepping to open a crypto exchange.
VanEck and Solid X are planning to launch a bitcoin ETF backed by physical bitcoin.
And Goldman Sachs backed Circle is seeking a federal banking license.
That’s just some of the news.
Anyways, if you have the stomach, now is the time to consider buying.
Are you selling or do you HODL?
and trade cryptos on Binance
I'm gonna stay on the sidelines. Not sure if the bottom is in just yet. Could be some sideways movement for a few months. Lots of fairly new investors got burned pretty bad and lots of old investors already sold at previous highs. I think it may take some time to get money back into crypto. However, I could be wrong.
I think you are right, and it will take another huge rally to get new investors interested, because everyone just got burned badly, and the risk/reward isn't there for crypto. why by something that could be worth 50% less in a few days?....much safer with stocks
Bloomberg is doing a weekly crypto report now and had some good data that you're right, we likely need another downturn before we go up. Need to shake out more weak hands.
That said this market can turn on a dime, so I dollar cost average in.
This is time where we want to buy alt coins as many as i can.
BTFD!!!
Bitcoin is our hope, our future. I rely on bitcoin. Its golden time is upcoming. Thanks for your great post.
Yes sir i hold need to grow from a tough conditions so you can enjoy good times.
Literally i don't have any Crypto Portfolio, Steem is my only Portfolio and i am HODLER of Steem and in my opinion market is about inflow and outflow of investments and it's nothing related to performance of Crypto Project.
And we all know that Bitcoin have the Dominance on the Crypto Market, and Altcoins will follow the trend of Bitcoin, and future holds great picture for the Crypto Sphere, and at this moment i am not looking towards the prices, inturn waiting for the launch of SMT's and other important updates.
Thanks for sharing this post with us and wishing you an great day. Stay blessed. 🙂
I'm a big fan of STEEM too.
But buy some BTC if you can ;-)
I wanted to but i am lacking liquid money, but soon when i can accumulate some liquid cash then for sure i will buy BTC. Thank you so much for the advice. Stay blessed. 🙂
Don't have funds to buy, but holding some sbd's :p
Buy bitcoin!
I have Almost 230 sbd's, are they enough to buy bitcoin?
Yes I am hodling until we get a bounce up! :)
Nice!
I think it’s best To hODL and let the losers sell away
Everyone is feeling bad with the current situation but I am hopeful that it will not remain the same. Time never remains the same.! Just patience is all we need.
Well said.
timing is everything and unfortunately I spent all my money buying at much higher levels, so sitting on huge losses and will not be able to buy any significant amount (if any) during this crash...I got in at the absolute worst time...last Dec, if I had bought early I would still be up, and if I had bought later my losses would be less
Oh that sucks. And the worst part is they're saying now that last part of the run up was manipulated.
Hold onto that BTC though.
Just blogging for Steem and SBD right now and hoping they go up while all other alts fall so I can buy alts for cheap.
Yea keep on Steemin. Will be interesting to see what SMTs do for the ecosystem.
It is my understanding that the total amount of stem doubles even year and every three year it will be reduced my a factor of ten to prevent inflation. Wouldn’t that hurt SMTs as they need SP as bandwidth on the steemit blockchain? Or was something changed?
Risky bet shorting BTC now. It could easily bounce off high $5000’s / low $6000’s. Easier to just hodl and wait for this to all blow over instead of trying to time the market.
Agreed
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