I keep hearing sooo much negativity about bitcoin such as “if bitcoin doesn’t hold $5.8k, we drop to $3.8k. If $3.8k doesn’t hold, we drop to $1.8k...”. No one knows what wil happen. Many information out there contradict each other so make any choice very carefully. I believe that if you sell, you become part of the problem.
The number one reason price has dropped so much is that many inexperienced investors panicked and sold after any bad event had occurred. Many inexperienced investors used money they couldn’t afford to loose and now they are panicking. The more people give in to the panic, the more the bitcoin and ALTs prices drop and eventually more money they will loose.
Now, this is the moment where experienced investors start buying and making money on loss of people who sell, because the whole cycle will undoubtedly repeat itself and the prices are bound to go up again. Since I’ve been introduced to crypto, I’ve never seen this kind of negativity. I just don’t care what anyone says, I’ve been buying at any dip we’ve had including the last one. I don’t have sleepless nights at all. All I think about is buying at even lower prices.
I’m a huge believer in bitcoin including some ALTs and all this sell-off means to me is that my average buying price got much lower since I started accumulating with small positions almost a year ago. If they are right and bitcoin does go much lower, it will only give me once in a lifetime opportunity to get something I believe in at unbelievably discounted prices.
Especially ALTs, they got really hammered. EOS below $5.00, Steem below $1.00,... Many people have already gone through previous bear markets. People like @dhenz or @exyle were in crypto much earlier than most of us. They and many others are actually taking advantage of today’s prices, they are powering up and accumulating as well. Shouldn’t we follow their footsteps? I follow my instinct.
Historically, crypto has the worst months in August and September. It has repeated itself again and again. I have no doubt that history “will”again repeat itself. In this bear market all I can do is to relax, enjoy the nature and look ahead at much brighter future. And that’s what I did just few days ago. I did what I love to do. Here are few of my photos from my favorite place.
@milano1113 is author of all photos.
All information above is just my opinion and not a financial advice. Everyone is responsible for his own actions.