The Great Cleansing Continues… Do You HODL?
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
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. 🙂
Yes sir i hold need to grow from a tough conditions so you can enjoy good times.
Bitcoin is our hope, our future. I rely on bitcoin. Its golden time is upcoming. Thanks for your great post.
This is time where we want to buy alt coins as many as i can.
BTFD!!!
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.
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!
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.
I think it’s best To hODL and let the losers sell away
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