@finprep
Hi!
A very thought provoking post. The mood in the crypto market is pensive and of doom. People who got caught in the bubble buying at the peak and unable to liquidate their holdings are the ones who are crying foul.The others who sold their holdings at the peak seem to have laughed their way to the banks. Apart from being a currency these cryptocurrencies now form an alternative asset class .Like all asset classes they have started getting governed by the supply and demand rules.The recent crash in the crypto market is a long due major correction which was shouting to happen after the recent sudden and massive run up in the year 2017. I personally believe that the recent fall is an opportunity for long term investors to start nibbling in this asset class for long term portfolio gains and any further fall should be used to add positions.The reason behind my belief is that the blockchain technology is here to stay and therefore i see value in these currencies.These currencies are much more efficient then any known fiat currency and in future the use of these currencies will only be increasing .So folks dont feel doomed ,this is the normal cycle of any asset class and holding for long term will lead you to better days
Thanx