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RE: The Great Cleansing Continues… Do You HODL?
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.