Here we are, amassed, amazed and scared about the near 60 day consecutive drop in cryptocurrencies. The situation seems hopeless, as we sit here and watch the world burn, as Alfred would say.
I've been telling people to invest on some currencies now that they have a smaller market value, so you can hoard more coins for when an eventual rise comes in. I know, it's complicated and it's more and more difficult to have faith.
The cryptocurrency market is dangerous and relentless. We know that this is just temporary, but the experts insist that we should let go of cryptos for now until it stabilizes.
I mean, are you guys kidding? "Market maketh coin", intentionally misquoting Willian Horman. So if we don't touch the coins, how are we supposed to stabilize the market? If we don't invest, if we don't buy or sell or both, how is the market supposed to grow back?
My reaction when they tell us to not touch the crypto.
The invisible hand does not apply here. There's a very visible hand actually pulling it down. It's all about speculation, cryptofear, neologism for when people are afraid of investing in cryptocurrencies. Sometimes, though, this fear is fabricated. Rumours, fake news, regulations attempts...everything has an influence on the crypto market. The more I see things unfold, the more I'm certain about a directed and concentrated effort to bring down the crypto market.
Who would like to put their hard earned money on something that just drops and drops with no signals of going back up? Why would someone waste their money on something so uncertain? We know this is a phase. A very bad one. But we also know that there's no way to sucessfully predict when it's gonna end and here is where the fear lies.
People are immediatist in nature, wishing results in the short term. And not even the savviest of the investors would imagine such tragedy. But this is the risk that was printed and glowing under the name "cryptocurrency". The market is highly speculative, sometimes even more than the regular markets.
It's a cycle and the highs will come, but it's gonna take time, of course. The Crypto Winter, as stated by some specialist, is here and now. Only the strong will survive. This is the time to pull off, but also the time to stay put. It's up to you.
As for me...I'm staying. What about you?
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