In December Bitcoin reached $20 000, at the time article was written price is $8089 according to CMC. Market crashed more than in half during past two months. Reasons are various and even could be called a FUD. Remember one thing – everything what’s being done to control cryptocurrency market is only for helping people not to lose their money and this does NOT mean that Blockchain technology doesn’t have any positive impact to our lives or is undervalued itself. The opposite – it’s just a start. Here’s whats happening in short and WHY YOU SHOULD HODL THIS THROUGH.
Reasons of Bleeding
#1 Facebook banned all ICO and Cryptocurrency related ads to prevent people from losing their money in scam ICO campaigns.
#2 The United States’ top securities regulator has shut down an initial coin offering by AriseBank in Dallas, Texas which aquired over $600 000 000 as investments for a fake campaign.
#3 Early Friday morning in Tokyo, hackers broke into a cryptocurrency exchange called Coincheck Inc. and made off with nearly $500 000 000 in digital tokens (NEM).
#4 The impassioned Minister reiterated his Government’s stance on cryptocurrencies while addressing the Budget 2018 at India’s Parliament in New Delhi on Thursday.
#5 The annual DIP.
#6 Nonsense FUD from crypto haters and PANIC from beginners.
Why to stay calm and hodl?
- Let me remind you that cryptocurrency market is young and it takes time to form it in any possible stable and more safe way. It will always be big gains and big downs until investors become legit and experienced. All these hypes are inspired by over-reacted newcomers ‘investors’ and the one’s who want to gain not in % but expects gains x5 x10 x20 times and this is not healthy attitude.
- Since old times one thing in trading never changed – EMOTIONS. This is what trading is. So at least time to time try to focus not on FUD or NEWS, but on coin YOU BOUGHT and it’s fundamentic aspects. Believe in what you bought or do not buy at all.
- Cyptocurrency turnover consists not only of trading. There’s miners and mining equipment manufacturers (ASIC, GPU’s, etc.) and their ‘Billions and billions and billions and billions’ (Thanks, Donald) $$$ invested. They will not let cryptocurrency market die.
- People becomes tired of third-party services and wants more speed in 21st century. Cryptocurrency solves it all so just be patient, we will get there thanks to Blockchain. You will see.
- You do not lose until you sell. So just think twice before doing that. Example – guy sold a flat for $100 000 and invested in BTC (bought at $19 000). BTC price fallen to $8000 he scared and sold ‘to save any left money’. He lost over $50 000 just by making not a smart move. AGAIN- BELIEVE IN TECHNOLOGY AND IN LONG-TERM ONLY. So if you sold a flat for BTC – only consider selling BTC you bought AFTER 1 YEAR OR MORE.
These thoughts are only my personal point of view and I wish only gains for all of you. Things will get better. Cryptocurrency is inovative financial solution and came to us not for 1 year. It came for long. And hey, while I finished article Bitcoin gained over $450 already ($8502). Cheers! 🙂