Crypto Crash!
Well it looks like the big crash that we were expecting is happening!
$28 Billion dollars of crypto have been dumped overnight causing BTC to crash and altcoins to follow suit.
(source unsplash.com)
What should we do about this?
It depends if you believe in crypto I guess! I personally think Crypto is here for the foreseeable future and it has a long way to go yet as it is still in its infancy.
Huge dumps like this are usually big investors that aren't seeing the fast returns that they expect... or if you believe in conspiracy theories, it could be banks or even the governments trying to ruin crypto by causing FUD.
What have I done in this situation? I have decided to invest! It is the perfect time to buy into crypto if you believe it will thrive in the future. I can see no reason to pull out my crypto as 1: I will make a huge loss and 2: there stands to be a great deal of money to be made here if you invest wisely.
Needless to say, I am not a financial adviser and you must do your own research and make your own informed decisions, I cannot be held responsible for any losses incurred.
Think hard my crypto loving friends!
Much love, BB xx
I did the same. Bought steem for cheap! delighted!
Whoop Whoop! :D
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I can see you have! Well done for being brave. I wish I could too, but as usual I did a buy the day before.
I can let you know when Im going to buy my next lot if you like so you can wait a day and get it 10% lower!
oh no! That reminds me of when I put my washing out, it always seems to rain lol I am gutted for you! Hopefully it will go back up soon and it will right itself again :) I am still not yet a dolphin, but I am a little bit closer! :D
You are much closer, let us all know when it happens!
I will be shouting from the rooftops and doing a little dance! haha
Perfect time to invest because it's a SALES SALES! Even on Steemit you get twice as much SP now too. That way when Steem decides to rise again, that's where we all win! Best time to post
Yay! :D I love a good Sales sale! hehe
I love sales and if you see free stuff, I'm gonna be there the day before. Haha
I can't say I'd be very interested in crypto without the blogging aspect (I'm just on here for the people, haha!). Now that I have been on here for a while it has started to intrigue me more and makes me excited to see where it goes in the long haul, as well. I don't have a lot of extra fiat to put in to coin, but at least I keep powering up what little bit of Steem I earn. 😜
I was the opposite way around, I was learning about crypto and stumbled across blogging haha but yes it is definitely the people and communities that keep me here rather than the money side now :)
Agree with you, movement like this last happen... well yes between Bitcoin Cash and Bitcoin Futures we had similar happen. Trust your gut instinct, buy and hodl (actually hate that term, but do agree with it)!
ah I am so glad I am not the only one who hates the term HODL lol
Couldn't agree more. I ALWAYS buy on the "crash days," and yesterday was no exception. I keep USD stored in Coinbase and set alerts to let me know when my buy points have happened, and yesterday was the day for BTC! Looking forward to watching it climb once again!
#steemitbloggers unite!
Posted using Partiko Android
That is a brilliant way of doing it, keeping some $ in coinbase. It is always a mad panic for me to try and get some fiat moved over when the crash comes. I think I might have to take the same steps as you do in the future! :D Thanks for your comment!
Happy to have been of service! I've found that having the cash in CB with a predetermined buy point it helps to alleviate most of the emotionality that can come along with speculative investment. It's done well for me thusfar.
this time for little investment. wonderful article and beautiful presentation.
thank you so much @ykdesign <3
Yes I'v been hearing words here and there all morning about this... almost afraid to look at my accounts.
NOOOO! Never look at your accounts during a crash lol ignorance is bliss ;)
This is so uncertain, gives me anxiety lol
Haha me too, but then I try to look at it from different angles and try not to panic xD
Pass me the secret to not panic lol!