The crypto bloodbath continues.
Just look at the CoinMarketCap pic below… all those charts are headed in the wrong direction for crypto investors.
And worse, bitcoin is getting close to 6k again. If it breaks, we could see another big drop.
If you’re scared and can’t sleep, you should probably sell.
But if you’re in the for the long-haul it’s time to HODL and get some funds ready for buying. There’s still lots of good news coming out despite the price action.
Realize this kind of price action is necessary in markets. We had a huge run in 2017. But towards the end it was very speculative. And likely some of the runup was caused by price manipulation.
After such excess, the market needs a cleansing to shake out all the weak hands. That’s what’s happening now.
The institutions are still coming to the space. It’s not happening as fast as everyone wanted. But nevertheless the news continues to be very positive.
You have Coinbase Index Fund which just opened for investment.
Fidelity is prepping to open a crypto exchange.
VanEck and Solid X are planning to launch a bitcoin ETF backed by physical bitcoin.
And Goldman Sachs backed Circle is seeking a federal banking license.
That’s just some of the news.
Anyways, if you have the stomach, now is the time to consider buying.
Are you selling or do you HODL?
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