Today I was at the park with my grandson and this gave me time to step away and gather my thoughts. There weren't many other families around and no doubt no crypto holders as they must all be in a state of depression. The people I saw today were all smiling oblivious to what is taking place on the markets right now.
I haven't checked y crypto wallet to see the latest PNL as who really cares as the time for selling is still along way off or is it? The truth is we don't know and everything we do is pure speculation. I have to be honest I am a little stunned at the volatility and how quickly things did drop. The truth is things do drop a hell of a lot quicker than they do going up and the prices we see today are like stepping back in time.
Seriously we see a project like AVA that is having a planned target of having only 42 million coins burning the rest. That places this project having a market cap of just over $42 million and is seriously dirt cheap. The travel industry is one that has seriously been affected by Covid and surely has to bounce back in a big way. I know others who bought at much higher entry levels as the ATH was $6.45 only 10 months ago.
This is just one glaring opportunity right now that is just too good to ignore and there are plenty others out there. I missed the RUNE boat and guess what that boat is now back in the harbor again for another tempting purchase. $3.85 compared to the ATH $20.87 also 10 months ago.
If we don't buy what we missed the last time out then we only have ourselves to blame as this cannot keep happening. many say they won't buy Bitcoin at $60K and are still hesitant today as the hope is it will go down even lower. You cannot have your cake and eat it having it both ways as being too greedy on your purchases may bite you a second time missing out yet again.
No one knows what is in store whether these prices are going to drop even more or start going back up. If you are in crypto for the long haul then there is no time like today or tomorrow as things tend to turn very quickly. I am sure the institutions are still buying Bitcoin and rubbing their greedy hands together not believing their luck.
You only lose if you sell below what you bought in at and looking right now may have been a smart move as long as you buy back cheaper. If this is a bear market then I have been left carrying the bag, but still a bigger than what I had before so no complaints. If it is a correction and will go back up then the latest purchases should be seen as bargain buys. Whatever happens this is all good in my books as this is forward momentum and must be seen as a positive.
How does everyone else feel about the current crypto markets and what do you think? Are we still in a Bull cycle or are we in the territory of the Bears now as I was still waiting for the crazy prices to appear? Unless I missed it this doesn't seem to be done just yet as I have waited 4 years to experience this special occasion and poof this had no fizzle.