Stranger things have happened | Prepare for the worst.
Buy the dip! That's what I hear whenever we are experiencing a bearish trend in this cryptoverse. It has been proven on several occasion that times like this is usually the best moment to buy any Crypto asset of your choice.
What we don't know for a fact is the exact time to buy the dip. For example, we are currently experiencing a massive bearish moment in Crypto. It didn't start today and we don't know how long it will last.
Hypothetically, some bought the dip when there was a 20% decrease in the value of their favourite Crypto, but the same Crypto dipped more and is currently facing an 80% decrease. To such people, they will be counting their losses already. Some others are waiting for it to hit a 90% decrease but y'all know how volatile these Crypto assets can be. You can sleep and wake up to see a sudden increase in value. Anyone that didn't buy before it moves up will also be seeing it as a bad trading decision.
You see, each dip can either lead to a huge success or a complete disaster.
This week, #Luna and #Ust took a huge blow below the belt. Investors are wailing. Those that have these in their wallet find it hard to believe what is happening. The damage is outrageous. It happened in less than a week. That's how long it took for Luna to lose 90% of its market value.
As if that's not enough, people who do not have any of these in their portfolio are rushing to dump whatever they have because they don't want to be caught up in the red side of this dip. That's the ripple effect of a bearish trend.
To be fair, it can happen to any Crypto out there so, we won't blame anyone for dumping it. This reminds me so much of how it felt the first time I experienced a massive dip in the value of a Crypto asset I was holding. The token is still in my wallet and it's worth NOTHING tangible at the moment so, I'm stuck with it.
About this Current bearish trend...
What will happen tomorrow?
That has to be the question most Crypto enthusiasts will be asking at the moment. Everyone would like to know if their favourite Crypto will rise in value or sink dipper.
Honestly, I do not know. I don't know what we will wake up to after today. I'd assume, and I want to believe, that this dip will be over as soon as possible. But, I genuinely have to inform you that stranger things have happened. Trace back the history of bearish trends and the ripple effect it had. It will help in your decision to buy, hodl or sell.
Whatever the case may be, always hope for the best and prepare for the worst.
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One thing I know is that this dip is heartbreaking. A lot of wallets have become useless. I don't understand how it happens but I've learnt to stop buying the dip cos once I did and it dipped so much it never recovered. I'd always say crypto is very volatile and unpredictable. I'd rather do airdrops and earn free tokens and blog and earn than invest. I'm yet to recover from my last investments
The surprising thing is how a completely healthy wallet can become useless overnight. Just within the twinkle of an eye. Yeah, we know that Crypto is volatile, but this is just too much.
People are losing a fortune. I hope this bearish period becomes over as soon as possible.
Hmmm! I don't even know anymore. Sometimes I feel like we may wake up one day and everything is gone, crypto will stop existing. It's scary men
Haha... Don't say it out loud. Haha. If something like that happens, many people in this world will be in all kinds of mess. Like, businesses will crash. Some countries will also follow suit.
The scary thing is that we can't rule out the possibility of something like that happening. Jeez... I'm getting chills already 🥶
Oh dear! Imagine El Salvador that bitcoin is their legal tender? How will such a country survive? Now others will mock them. I mean this whole shit is crazy..I'm sorry for my language but for now, I'm never going close to my wallet. It no longer exists as far as I'm concerned
El Salvador comes to mind in the midst of this dip. It's a huge concern because crypto has a flow so when people start selling because they encountered a loss, even those that are not affected will join in dumping what they have in their wallet. It's that scary.
Some other countries out there (like our own country) which have been antagonising Crypto enthusiasts will have more justification to fully be on the lookout for those involved with Crypto.
Sadly, what people may see as a red curve in their wallet section already has bigger impact on the whole cryptoverse. This makes massive adoption Harder.
It really does make the mass adoption harder. But why are people selling the dip?
For several reasons. The most obvious is that they don't trust the project but they chose to invest initially because of hype.
In that case, the same hype that forced them to Invest will also be the reason for them to sell whenever they start hearing 'noise' about the collapse of a certain project. That's mostly the case, especially for projects that lack a strong backbone (use case).
Another reason is that it's probably unavoidable for some people. For example, someone that has Crypto as his/her only source of income will surely have to make sales (with teary eyes) whenever he unavoidably needs cash.
The other reason (though not seen very often) is the expectation of more dip. When people trust a project and the project is dipping and they believe it will go dipper, they may pull out their fund when it's dipping in order to buy more when it goes dipper. Hehe.
For example, anyone that knew Hive will get down to $0.4 could have used about 100 Hive to buy 95 HBD before Monday. That person would also use the same 95 HBD today to buy 237 Hive. Lol. That's a strategic way of selling during a dip. BUT, you may sell and while waiting for price to go down, the price will jump up warranting that the 95 HBD you have will only get 40 or less Hive for you.
That's how volatile this Crypto stuff can be. Haha.
Those are wise words!
Yes, anything can happen at anytime indeed. In a case such as what you are referring to in your post, where an asset loses 90% of its value, I believe there is no sense in selling. This is just my personal opinion and people are welcome to have their own opinions. But I believe that after an asset has lost that much of its value, you have already lost the majority of your investment...if you sell.
If you don't sell, and it goes down even further, well, not much of a difference, is there. But if you sell and it goes back up again...you're out. Once you're out, you're out... There is no way of getting your money back. If you kept that small portion of your investment though, you might stand a chance to at least get a better portion of your investment back...or who knows, even get back in profit in due time.
The best option is obviously to get your money out if you can see it coming...but that's the problem I guess, we can't always see it coming!
I enjoyed reading your post. It was very thought-provoking! I like it and thanks for sharing it with us!
Thanks so much for this adorable comment. Crypto throws us into a lot of uncertainty. We know this can be for good or bad and we still get involved with it because we want to (at least) make reasonable attempt to improve our financial position.
That's the point. An asset that has already lost 90% of its value need to be completely ignored to lessen the pain of that loss. Selling won't make things better. It's already a loss so, if possible, the best thing to do would be to hang onto it and hope for things to get better on the long run.
😉👍
The market crash is disheartening but we gotta be strong to weather it. No one knows for sure how dip it's going to get, but it will rise back up, only a matter of time. There was a period when BTC dropped from $17k to $3k but then it recovered.
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The crash is a big pain. It can also be an opportunity but we all need to be prepared for the worst. It's just a matter of time. Everything will be better and the price will hopefully climb higher.
Exactly
The dip you see might actually be a bear in disguise as you may enter and boom, it Dips further.
There is no formula to it
For me, provided you are selling at a price greater than the one you bought, that's all that matters
Yeah. At the moment, anyone that sells higher than the price they bought it will be on a safer side. Many shitcoin holders will be in all kinds of headache at the moment. Looking at their wallet and comparing it with the money they spent to buy those coins will be a heartbreaking thing
We hope for this to be over as soon as possible.