Crypto Carnage

avatar

carnage.png

I logged into my laptop when I got home from work today to witness what you could describe as a 'crypto carnage' of red ink.

All of the top cryptocurrencies are currently showing double digits price declines. At the time of writing this post, BTC was down 15%, ETH down 22.63% and BNB down 23.55%.

The crypto market has had a bit of the jitters for a number of days now, but today has been an across the board, max exodus event.

Now what?

The question a lot of people are asking themselves right now is 'now what?'. Is this panic time? Is this the end of the bull market? Is this the end of crypto? Is everything lost?

All of these are valid questions to be asking, although they are not the questions I am asking myself.

Is now the time?

There is one question I am asking myself right this moment, 'is now the time?'. I am what you could describe as a contrarian investor. I always prefer to be buying when others are selling, I tend to get fearful when everyone is exuberant and I was terrified when DOGE started mooning. When DOGE started mooning, that is when I was asking myself, 'now what?'

Crucial moment

I see events like today as a crucial moment of opportunity. Today may be an incredible time for me to buy certain cryptocurrencies at heavily reduced prices. If today or the next few days turn out to be a temporary dip in the market, then the upside potential if I buy now could be huge.

That being said, it might still be a bit early, perhaps this is the start of the next downward trend in the crypto market for a sustained period of time. Perhaps it is more prudent to keep my purchasing ammunition dry for a bit longer.

I do not know!

The truth of the matter is 'I do not know!'. What I do know is that I am not selling a cent of cryptocurrency, diamond hands over here. If anything I am excited and will most likely start selectively buying over the next few days as I patiently wait to see where the market is heading.

Thank you HIVE!

It is on days like these that I am so thankful for HIVE, Leofinance and the entire ecosystem. Instead of panicking or thinking if I should sell or not, I just do what I do every day. I write my post, I reply to comments, I upvote posts and I carry on.

If I have confidence in my investments, the value they offer and their future potential, then I can rest easy during these market corrections or adjustments. If, however, I was not doing my research and blind speculating on random cryptocurrencies, then I would be a bit more concerned right now.

CUB and LEO

CUB has been of concern to a lot of people recently, as its price decline has been significant and constant. I would be lying to you if I said I have not been concerned. That being said, I am still mid to long term bullish on CUB and LEO. I am definitely not selling either, I have strapped on my seat belt and I am going on the ride.

I love the @leofinance team roadmap and I have confidence that the work they are doing in the background will eventually prove very beneficial to the price value of both CUB and LEO.

Conclusion

Hang in there folks. I know a lot of you are experiencing a wide range of emotions right now. It is fine to feel those emotions, but try not to let those emotions make a rash decision that you may regret.

Calmness and clarity are required in these moments. Also be ready, because the opportunities could be bountiful.

If you need something to help you be calm, then read this poem below, IF by Rudyard Kipling. It works for me, every time.

IF - by Rudyard Kipling
If you can keep your head when all about you
Are losing theirs and blaming it on you,

If you can trust yourself when all men doubt you,
But make allowance for their doubting too;

If you can wait and not be tired by waiting,
Or being lied about, don’t deal in lies,
Or being hated, don’t give way to hating,
And yet don’t look too good, nor talk too wise:

If you can dream—and not make dreams your master;
If you can think—and not make thoughts your aim;

If you can meet with Triumph and Disaster
And treat those two impostors just the same;

If you can bear to hear the truth you’ve spoken
Twisted by knaves to make a trap for fools,
Or watch the things you gave your life to, broken,
And stoop and build ’em up with worn-out tools:

If you can make one heap of all your winnings
And risk it on one turn of pitch-and-toss,
And lose, and start again at your beginnings
And never breathe a word about your loss;

If you can force your heart and nerve and sinew
To serve your turn long after they are gone,
And so hold on when there is nothing in you
Except the Will which says to them: ‘Hold on!’

If you can talk with crowds and keep your virtue,
Or walk with Kings—nor lose the common touch,

If neither foes nor loving friends can hurt you,
If all men count with you, but none too much;

If you can fill the unforgiving minute
With sixty seconds’ worth of distance run,
Yours is the Earth and everything that’s in it,

And—which is more—you’ll be a Man, my son!

source poetryfoundation.org

Post authored by @strenue

Posted Using LeoFinance Beta



0
0
0.000
4 comments
avatar

I sold cardano weks ago, warned my nephew but he did not listen. I moved some more hive into HBD and for the rest I have zero crypto. A few years back secondlife was hot and just when the compnies entered it all disappeared again. Crypto and the energy bill is too much to survive maybe. (No advice just my view)

0
0
0.000
avatar

I guess the expected 'Megacorrection' made its presence known and brought us back to the month of February, causing the Altcoin craze, especially Doge and ETH to drop to the levels that you would expect from those projects. Cryptocurrencies are like that, if you are not patient then your fate in this world will be pretty bleak. Regards, good post.

Posted Using LeoFinance Beta

0
0
0.000
avatar

Bought more this morning — like a BOSS! Lofl
And will likely buy more tomorrow. We took a good hit, and it’ll take a few days to recover any mojo

0
0
0.000