Alright it is a blood bath out there.
Bitcoin under 42k
Ethereum down to 3.2k
BNB down to 455 after being seen around 600 recently
Even Hive is taking a bit of a beating down to around 1.40 after being around 1.80 for the longest time.
What does all of this mean for us? I argue it means nothing.
What I mean by this is that the price of the asset only plays actual relevance at two points: the point at which you purchase the asset and the point at which you sell it. Everything in the middle in just noise where you can become arrogant or depressed based on the numbers; yet nothing is realized as gain or loss until you exit your position.
With this in mind, if you are planning on holding your assets for longer than the next couple of hours or days, this price dip can only be seen as a positive as it is a lower entry point for accumulation.
I don't know what the rest of you feel, but when it comes to Hive, I have the same belief in the ecosystem whether the token is worth $1.40 or $5. The fact that it has any value at all is something that we should be wildly excited about because there is still earning potential every day even if you wouldn't make us much selling it today as you would have last week.
I don't think that the basics of Bitcoin change whether the token is worth $1 or $40000. In fact, the price is completely irrelevant to the functionality of almost all cryptocurrencies I know (minus Ethereum because of their horrible gas fees that didn't scale). If you are investing in assets you believe provide utility, then one day the price should theoretically account for all of that utility; none of us have the ability to determine when that will be or what exactly will bring that information to light.
My crypto bags aren't huge at the moment, but I don't plan on selling off my assets in any kind of panic with the market. Long-term vision and patience to wait for value to get priced in is something that I struggle with, but know at the end of the day is the only way to make it in the investment sphere.
Do your own research and panic sell if you want, I'll be waiting for the upside to get priced in and ignoring everything happening in between, except for the memes about it they're pretty funny.
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My name is Rob and I am a prospective law student with interests in cryptocurrency and blockchain. I have enjoyed my time thus far engaging with Web 3.0 and am looking to continue learning more and sharing what I learn through my experience