Spot on.
And the result of all that is decreasing prices. We should start getting prepared for a "atomic winter" in cryptos. Not saying it will happen..but be prepared. Can you deal with having your cryptos being significantly less worth for a year or two? Going down another 50% either taking away all gains from 2017 if you got in early..or putting you way way back if you got in later.
It could potentially be ruff times.
That sounds a bit extreme.
I think a 90%+ correction could easily still be in the cards, with a true floor being held only by those who simply aren't willing to sell at any price, anyone who was just in it for fiat profits will easily be chased away for the coming years by the collapse of an exchange or 10 and the destruction of all of the stablecoins. And funny enough they'll exit just in time for the fiat system to start crumbling, but will find it hard to re-enter crypto when all of the entrance gateways are shut.
Some FUDDY stuff! I dont't think so. Mining costs for BTC is about 13-1500$ ? A 90% drop would mean all faith in cryptos is gone, and that blockchain tech is considered pointless? Dunno man..sounds far fetched. But of course, anything is possible. At that point I'm going to vote for any party that implements universal basic income..cause I'll need it!
Sure. But for crypto noobs that are all ready down 50% of more, it's hard times right now. It's hard enough for me who's still up 400%. The best thing is to be prepared for the worst. I'm not going to sell any cryptos, because I believe in it long term. But it could take a long time to see those paper-gains again.Or not..who knows. But these things often take some time to fix.
I don’t think it’ll be down for more than a month or two more. The market may be dropping but the tech itself is maturing.
Indeed. That's the correct way to look at it.
Is there another choice? I could sell everything now. Suffering a loss of 50%.
So in stead I will take the gamble and trust in the technology and see where the ship strands.
I've trusted the tech every time we've been through these cycles..and hodling has worked out every time. I do get the feeling that I should hedge myself by at least get back into some robotic etfs and stuff just to feel a bit safer, with some of my money..and I might. Honestly I might hedge myself a little bit and sell some eth and btc etfs that i own through normal exchanges. But I havent sold yet..so we'll see what happens tomorrow.