The charts have little value today

in cryptocurrency •  2 years ago 

First off this isn't investment advice and in all seriousness I am a noob in the market.

I first got into Cypto when i saw ETH was at 262 wow what a steal I thought. I didn't realize then what I realize today that the old charts don't hold the same value they used to. In the past week the total Market cap has gone down to 83 billion and I believe in the long term we will far surpass the old numbers.

A lot of money has left the market is people scared to buy or are more inclined to sell at a greater loss than normally they would. I believe some people are scared to buy and have short term plans for a market that is still very much in its infant stage.

The charts form the baseline that show the community support of the coin at that price I see those baselines blown up as you can't really go by them anymore. At least until the market somewhat recovers and we form new baselines the market will be more unstable then normal.

What i am doing is buying coins that are longer term investments that i plan to keep buying more of.

Like I said i am pretty new to cypro and is a guppy in the big ocean of it all ,but I am living and learning more each and every day.

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true! right now it's HODLING time

I always see the HoLding spelled Hodling any idea where that started? I guess i could try to google it. Cypto memes got to love it.

For holding long term, dollar cost averaging and taking advantage of sell-offs makes a lot of sense.

I'm trying to accumulate Ethereum for the long term...

I have a long term mindset I am only in my 30's so I am a long way off of retirement just need to keep hustling. I know my 401k isn't going to hold me over.

Nailed it. Yes, we will surpass historical highs. When? Who knows? But we are in an emerging economy which is going to be volatile.

The largest companies in the world dwarf the $100b market cap for the entire economy.

Little upvote for you there mate. I think this is an outstanding assesment from a newbie. Well done.

Thanks for the support I appreciate it.