I'm Glad Almost All Cryptos Are Down 90% Right Now. Here's Why:
Just when you thought the markets couldn't go any lower, we experience a day like today.
Literally every single coin in the top 100 cryptos is down today 5 to 20 percent. I'm watching my portfolio melt away but I remain happy and optimistic. Why? Well, a few reasons, one being that right now is probably the best time to buy as it can't go much lower. The other reason I'm glad they are all so down is to check all those loud mouth "crypto experts". So many cocky know it alls have been everywhere on the net bragging about how god damn clever they are and how they have a magic wand for analysing charts. Each and every one of them are truly fucked right now and it serves them right. There's nothing better than watching cocky idiots get their karma. Sure, I'm pretty damn down right now too, but at least all coins are down and it's not just me picking shit coins. They all seem to be following bitcoin and analysis of any of their charts is pointless because the market reflects whatever bitcoin is doing. So use whatever analysis you like, it just makes you a damn noob. I'm gonna hodl strong for the next few years, and enjoy the fact that all the cryptocurrency "experts" are now broke with tarnished reputations. It serves us all right for being greedy and following the hype. Perhaps now we will learn that no one is a fucking crypto expert, the market is too damn new and hopefully most of the quick money ferrari chasers have exited the market making it that much more stable. You should be investing to support the technology of the future, not to get rich quick and cash out, that doesn't help the cause.
Let's all learn from our mistakes and become a bit more humble aye?
I share your same opinion. I, up until now, didn’t have any money in bitcoin because it was too expensive for my taste, I focused on different coins. Now that the correction is seemingly done I bought my first little bit of it so I can add it to my portfolio. Personally I think bitcoin is a pyramid scheme with the people invested heavily in it but I think there’s fantastic opportunities for other coins that are legitimate, not ones trying to take advantage of people not knowing. Have to have a bit of good diversity though so I put a little money in.
I also think that it’s great these phony experts are getting a reality check. Anyone trying to predict a market might as well throw their name into the ocean; the reality of their predictions coming true is slim to none so I laugh at the fools who think extravagant prices. This one guy predicted bitcoin will hit 50k this year. Those stupid sensational headlines do nothing to better the market or technology, it’s just for clicks. His post was full of junk, drew some bogus graphs and unfortunately people were eating it up.
One love brother. Glad we're on the same page.
Yep, 74% on my total portfolio but longterm it will bounce back. Don't have to much more to invest a little here and there of offset some cost.
Hodl strong
what the flip! I had no idea! Outrageous!
@thedonfreeman, I do not understand anything written