Crypto Price Crash: Don’t Panic We Have Been Through This Before
First of all, the market cap of the crypto market is extremely down, $1 Trillion compared to the $3 Trillion it was as the all time high. $2 Trillion has been wiped off the market, that’s a lot, reasonable enough to cause panic because, people’s portfolio is down below 90%. The only asset that is safe right now to have your money in is the StableCoin. StableCoins are the safe heaven for most assets but the rest are extremely volatile.
But this is the cycle of cryptocurrency, it’s usually like this, pump, dump, rise, crash. It’s like breathing oxygen, but that’s for the oldies who have been in the crypto space for a long time. We all know that there are periods where the market comes crashing like there is no hope in crypto anymore, then starts pumping like it’s coming to avenge those who doubted it’s existence.
Bitcoin finally touch down $25k which is very low compared to the all time high of $69k, waking up this morning and seeing my crypto portfolio down more than 90% is bringing back more 2018 déjà vu, this was how I felt when the crypto market was dipping, but unfortunately I didn’t have Hive as a spot where I could come and talk about how I felt.
Reading about past market crashes both in stocks, shares & NASDAQ is giving some glimpse of hope like this is okay, it happens, this is just crypto’s turn. The ironic thing is that, all sectors of investments are down, both the stocks, the shares, Nasdaq, ETF, Facebook, Netflix,etc. StableCoin is the only asset you could have had your money in and still have its value.
Do You Still Believe in Long Term?
Times like this will have you doubting lots of things, but investing for long term keeps your mind a little at peace. This way you don’t have to constantly worry about how much the price is dipping. If you have enough money, this is the time to buy more. Assets are way cheaper now, you can have more bags for less value now.
People who have been in crypto for more than 4 years know this, bitcoin price is used to crashing and bouncing over time, you just have to be patient.
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Am not surprise,this is the law in crypto world
It's quite nerve-racking seeing the charts but yes, believing in long-term helps in calming the system. The whole economy is a wreck but this too shall pass.
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Staying away from the chart helps distracts me.
That's good. Although we don't check the charts, we see quite a lot posts about it here in LF hehe.
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The cycle really cannot be complete without the crashes; it is a matter of how long that sends shivers down one's spine.
It really is a tough time but believing and holding on to the long term game gives one hope and some form of peace.
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The wise guys are buying more and accumulating. The paper hands are selling. It’s like déjà vu, keeps going in circle.
These are buy opportunities in my opinion! Bitcoin is going to be the best long term hedge and asset so I’m trying to accumulate as much as I can with these lower prices. Pretty soon it will be triple what it is right now as the “low” price in my opinion.
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Sold some of my assets 2 weeks ago to sort out an issue, the big dip is going to make me buy them at a cheaper price so it’s a win for me.