I follow a number of different pages on Instagram - food pages, music pages, artists - and also some philosophy pages as well.
There is something very soothing in reading some quotes from known philosophers when the going gets tough. And that is precisely what happened to me last night, as I was mindlessly browsing my IG feed, this is a pic that popped up:
What a brilliant quote. I interpreted it right away as a quote that is basically saying that 'there are more ways to get to the top, and we have 2 evidence for that, Cesar and Alexander'.
Which got me thinking in corelation to the recent dramatic happenings in our beloved crypto world.
Now first of all, just so you can have a clear idea: 5 or so days ago, I invested somewhere around 550 $ in LUNA (I believe the price at the moment of time was around 78 USD). So, have that in mind while reading up my thoughts - because I have shed blood as well.
The fall of LUNA was a rapid and a spectacular one. I haven't been in crypto that long - but gathered from what I read from other, more experienced crypto traders, this is quite possibly the first time that a top-10 crypto coin managed to dump so quickly and practically burn out infamously.
What is the bad news: the bottom is yet to be reached. As sad as it feels, I don't think 9-10$ is the bottom that LUNA can reach. Which means that my 550$ investment is practically gone. And the 'fun' doesn't stop there, oh no sir - it will be a tremendously optimistic to think that LUNA can ever bounce back. I remain cautious into buying the dip because a LUNA recovery to its previous glory would be nothing short of a miracle by this point.
What is the good news: If you're taking advantage of low LUNA prices, be patient. IMO there is no need to rush. It could go a lot lower. Wait for some clarity. Don't get greedy. And realize that it could still go to 0 so don't go all-in.
What is the sad news: This is not good for crypto and it's not good for us as a community. If we put everything aside, I feel horrible for those who held LUNA and UST these last few days 😔 I hope everyone is okay. I hope it bounces back, but if it doesn't, you will.
What is the optimistic approach: As mister Machiavelli taught us, there are more ways to get to the top. Yes, LUNA is proving to be a major obstacle in that journey to the top, but if we have a stable foundation before we pick a path for our journey to the top, we can overcome this horrendous misshap.
And for sure you might be asking yourself - but what is that stable foundation?
HODL. Always invest money into crypto that you do not necessarily need. I usually take around 10-15% of my monthly income and invest it into stable coins (Tether) or BTC, ETH, HIVE, SOL. Yes, LUNA was on that list as well - but I am not touching it at the moment. Too risky. And I do not have a tremendous amount of money just laying around, waiting to be spent 😄
If you work and build on this foundation, then you can get to choose your own path to the top - be it by staking, be it by daily trading, be it by minting NFTs. Crypto is proving to have many different uses and it is expanding, even in these desperate and very trying times.
I really hope that for the lot of you who were LUNA-invested, you take a step back in retrospect. Stop looking at your portfolio. Yes, LUNA may never bounce back - but like I said, you will. You must.
For if we want to be winners like Cesar or Alexander, we must continue on our journey to the top. With or without LUNA.
Have a beautiful day ahead 🌸
