Dark times ahead, don't get shaken out.
In just the span of a few days around 30 billion dollars has pulled out of the Cryptocurrency space mainly due to China's ban on ICOs and other governmental bodies coming hard on them. Contrary to public opinion this is good news, regulation is coming in to prevent fraud, prevent money laundering, and protecting customer funds.
Who knows how long this bear market will last, might depend on how fast regulators come out with guidelines or statements on the matter.
The fact of the matter is is that when Cryptos start to take off again, if you sold you might seriously regret it. Look at the chart, the weak hands mid July are kicking themselves right now.
Have a great day and hodl. Would love to hear your thoughts on the situation!
This is just my opinion, this is not investment advice. Do your own research or talk to a financial advisor before deciding to put your money somewhere
Yes, amazing how I've learned to steel myself in the face of these emotional downswings. My gut feeling is that even if we are in a bear market, the cryptosphere tends to cycle through things more rapidly than conventional markets, and we could get bullish again pretty quickly. I do wish I had taken a bit more profit tho!
Better than thinking, "Why did i short?!" when the next rally come.
Even though my portfolio is going down, I love to see these down trends. I believe in cryptos and know it will come back. Right now I'm like a kid in a candy store! So many coins to buy at a good price!!
Same, we must be somewhat masochists haha.
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