Observing The Drop For What It Is
Blood in the streets!
We are all seeing red in today's cryptocurrency dip, but I've taken a moment to observe the drop and it's helped with the anxiety and uncertainty I've felt in the past.
If this is your first major dip, then my heart goes out to you. If not, you probably see this as more of an opportunity than anything.
My Reaction Today
When Bitcoin hit $20,000 (on some exchanges), people would have given anything for an opportunity to buy at $11K. Hindsight is naturally 20/20. Now that we are actually at these numbers again, people tend to break out and panic sell at the low.
I understand that this feeling is natural and occurs for a psychological reason, but it still confuses me. But hey, I'm not complaining...I'm one of the people they are selling to, so kudos!
This is not financial advice and shouldn't be treated as such. Just one man's opinion.
Photo captured and edited by me.
Bradford Tennyson
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This is my third dip and I agree with you so much.
Few month ago back in 2017 when the bitcoin has lost about 50% of its value I was feeling so bad regretted why didn't i sold at the top ..instead of buying at the bottom I just waited in anxiety for the price to go up and when it eventually went up and up ...I looked back at the period when bitcoin was at 2000$ and realized that the psychological panic is a natural feeling that made me freeze instead of acting and buying some more.
...It could be worst if I would sell at low but I knew that this would be a mistake ...so I didn't
Good on you for holding tight! It takes a couple hits like this to realize the hidden opportunities.
I could only imagine the heartache must be felt by those who sold at $900, $500, and so on. We have no idea where we are the scale of Bitcoins price and that's the exciting part.
Orrrr we could both be wrong and the bubble has popped and we're all going to burn in a enormous blaze, but I'd like to think the opposite 😋
I really don't think that bitcoin is doomed or it is in a bubble.
I am sure that we will see 20K really soon and all the people that have sold at 11K will be crying ...but as you say I dont exclude the possibility that I will be the one who will be crying
...time will tel
:)
Indeed, time is the truly the most honest among us.
Causation vs correlation? lol. Have faith!
Not sure what you are referring to, but yes, faith is a must in this market!
I have not been involved in crypto for very long but since becoming interested have delved in head first. I experienced the smaller dip around Christmas, but nothing this drastic. I must admit I have been semi-freaking out lol but had to stop and tell myself that I invested for the long run any way and just ended up getting anxious because of such huge price increases. Ultimately I am still up, just hard watching those portfolio numbers going down.
I appreciate the honesty. It is hard watching your portfolio balance dwindle in mere hours, but I truly believe there is a bright horizon.
I'm going to continue to dollar-cost-average my way into Bitcoin and buy in heavier on days like today.
Good luck to you and your future investing!
Lol. I had to stop looking at the exchanges. As a newbie to investing I made a couple mistakes early on that I hopefully learned from. Watching my coins drop so, so low... I believe the new term I learned was HODL. I am going to do so, and I hope everyone else does as well. Can't wait until I can put more money in! :)
It is in those mistakes that we build our strength. I don't use the term that often, but I'm glad to meet a fellow HODLER! Cheers and best of luck to you!
I invested in Enjin Coin expecting a boom followed by longterm steady growth. Great team behind it. I bought in at $.18 and it went all the way up to $.52 (i have a few thousand coins). Nows its down to $.19 after having huge gains. It has nothing to do with Enjin and everything to do with the regulations on the entire market. Just look at what the Enjin team is working on... Their 600+ coin most secure mobile wallet was a success and it comes out in a day or two for ios. Working on minecraft plugin and ark survival... Guess its time to buy more
If you believe in the project, absolutely! I don't know much about Enjin, but you have given me something to research. Thank you for that!