Don't let the recent drop in Ethereum, Bitcoin, Litecoin and most other crypto currencies today make you panic. Take a look at the charts below. It's all a matter of perspective!
Let's look at Ethereum
Here is the 1 day chart:
-18.53% Well that does look bad from this view.
How about the 1 week chart:
-28.06% Ouch that looks worse.
Okay how about the 1 month chart:
Wow, +68.34% in a month! Outstanding!
and finally the 1 year chart:
Markets go up and down, but look at the bigger picture here. If you bought Ethereum one month, six months or a year ago you are still massively up! It can be a challenge, but try not to panic on drops like this.
The blockchain technology is still in the very early stages! If you believe in this technology and how it is and will change our world when it goes more mainstream then I suggest you don't panic sell.
The markets will be choppy, but I'm not selling anything! I am adding to my cryptos!
If you are day trading cryptos then you would have a different perspective than me. But if you are like me and buying and holding you have to ask yourself do you think these prices will be higher or lower 1 year from today?
I have my answer! When buying stocks some famous investors say the time to buy is when "there's blood in the streets". I haven't heard them say that is the time to sell!
However, as a disclaimer my opinion is not meant to be investing advice. I only want to remind people to look at the big picture perspective and to decide for yourself!
When you mix emotions and money it can be easy to make decisions that you regret later!
Thank you for reading!