There's blood in the streets in Cryptolandia!
Unless you are really new, you've sat through "crashes" like this before. Days like today never feel good, but what can we learn? The stupid Chinese government is cracking down on ICOs (aka our method of funding our blockchain projects). We are obviously not smart enough to invest our own money. I think this is the catalyst for the entire sell off today.
As I actively watched the value of my Exodous.io wallet fall in USD terms and my exchange account bleed, I could feel the blood rushing around and heating up my entire body. The discomfort is real.
As a Liberty Entrepreneur I know that every obstacle is a opportunity if I can stay just calm enough to remain curious. This is the perspective that breeds wealth and success. Today is no different.
So I started asking myself the following:
- Was I over exposed to small-cap coins?
- Have I been chasing and scalping?
- Do I have coins in my exchange portfolio which I'm not confident and knowledgeable in project?
- Has being on an exchange created more value than holding coins in a wallet not only in BTC or USD terms, but also considering the counter-party risk of not controlling my private keys?
After actively watching ETH trade from $360 to $300, I decided that I need to simplify my holdings. I'm now only interested in coins that I believe in. Projects that I understand and appreciate (like Steem) and not get so greedy and try to make a quick buck because of a "really good technical entry on the chart". That seems like a great way to stay busy and lose your stack.
The crypto investing world is changing and just throwing money at a good looking chart in what seems like a bull market is no longer a profitable strategy.
This crash is just another blip on the radar. Everything is being tokenized and hundreds of thousands of blockchains will exist in the future.
Be smart, don't invest more than you can lose and keep learning and growing.
I hope you can find some blue sky on such a cloudy crypto day. The money and blockchain revolution will be fought by the current powers that be. Don't worry, they are fighting a losing battle. We have the advantage of win/win value creation on our side. These guys just have guns. It's just a matter of time, amigos.
Questions for YOU
- Is your portfolio bleeding today?
- How do you hedge your stack?
- What's your exchange trading plan?
- What coins do you typically trade?
- Which coins do you HODL?!
Leave a comment and help out a fellow crypto investor who might be feeling the pain today!
-Ashe
