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RE: Do not tell me you panic sold right!?
I don't get the panic.
I get my pension paid into a UK bank and draw it in Portugal as Euros.
Between the banks and the exchange rates I get ripped off regularly.
We don't hear major screaming when fiat currencies fluctuate like that but for some reason we need to be in a panic about crypto.
Nope. If it's cheap buy some more until it goes up again.
Crypto is the new kid on the block so of course there will be ups and downs. Long term though it will all go up and the banks will cry.
Yes, the panic seems strange to me too. Especially because it seems partly FUD innitiated. Yet, like I wrote in a follow up post today: It is hard to argue with panic.
And yes exchange from crypto to fiat can give quite a loss, or a gain on the banks part... The panic selling is a strange phenomena, maybe because the concept of cryptos is fresh and new. And now they come cheap.
In it for the long-term and expecting they will indeed move back up again.