Crypto past, present, future....

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The recent market crush has been unexpected! Coins plummeting as if there's no resistance in their price actions. Which led the market to see its lowest price in various coins for this year. Grid and fear index saw its all time low for the year. It resulted people to panic! All this were happening and people were making harsh decisions along the way. Some were in dire need of money, while some were in the realm of FUD! Which led people to sell their assets in a loss. So what happened? Market initially started to recover as bears were collected by few groups of people! Are they in loss or in profit?


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  • Without CASH

It is well said, some people are knee deep in crypto. Which makes them vulnerable when the market goes into chaos aka downtrend. The panic starts here! They can neither sell nor keep those assets. As the dire need of FIAT pushes them to sell their crypto and bear a huge amount of loss in the process. Over the years this lesson was repeated with me like a boomerang. The situation crippled me in terms of holding crypto in my wallet. Thus they say, you learn your lesson the hard way! Which is why I tend to keep some FIAT at all times, just in case this sort of scenarios may arrive at my doorstep. In this current bear market I got the full benefit of it. My Fiat savings, helped me to survive even though everything went into the gutter. Thanks to the veterans, whose ideas comes in handy when you listen to them!


Yes, crypto is going to change the future! You got to read between the lines. If you can not live through the present, I doubt there will ever be a safe future for thyself.


List of unexpected events


  • Terra Luna
  • Celcius Network halting withdrawals
  • FUD of BTC going to 20k, 16k
  • Crypto market loosing Trillions

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Every time the crypto market gains attraction/investors something seems to pull its leg. The big drop out last time happened in crypto was due to a ponzi scheme name Bitconnect. Which led people to loose money, lifetime savings and some even committed suicide. A similar event took place but this time it was branded by the name Terra Luna. Where people lost their life savings and some even committed suicide which made to the national news.


  • Influence of Social Media


The immense power of social media is hard to defeat. Nowadays, it is quite difficult to stop a news from going viral. And if its a topic of national issue, the easier it gets to attract attention! Either a good or bad news can go trending if the news has some masala in it. Which leads to expectation growing high, sometimes FUD and so on. In this scenario BTC going to 20k was very much expected. As the news got spread so much, it was bound to get there where it is now. I can say from certain experience that among those people who predicted BTC going to 20K, almost 50% of those people had no idea about trading, chart analysis or much big stake in crypto. The role they played was spreading the news from one another just based on the news from veterans. Which played an important role to spread the FUD, resulting an impact in the market.


  • What's Next?


No idea at all! But if I have to talk about myself, I would rather hold onto my coins than sell them off. Instead I am picking up coins as much as I can in this down market. I may loose $$$ value at present but as history has said, it is going to be quite a beautiful run in the future. I would love to see what happens to my assets after a few years time.


I might look for a job! lol this unpredictable market may get invincible in the next coming days. I should get prepared for it. JK lol.


Furthermore, slowly building assets in the real world as well. Like people say, we all have mouths to feed and a life to keep on going!


Images used from Pixabay , Canva

Best regards
Rehan

Posted Using LeoFinance Beta



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