Hey Everybody!
Today I want to talk about this massive dump in the Coinmarketcap. Everybody is dumping and nobody knows what to do. Today I want to talk about a possible scenario of why this could have been happening.
For days like this, cryptocurrencies prices going down, everybody is on sale right now and Warren Buffet always said:
When everybody is fearful, you got to be greedy. And when everybody is greedy, you got to be fearful.
So what that means is right now, everybody is fearful and selling their stuff thinking that this thing is going to crash. And when everything is way up showing green, everybody is greedy, they want the max out of their position. You got to be selling, you got to be fearful and taking some profits out. That's how you will survive in this wavy thing called Cryptocurrency.
Talking about Warren Buffet, he bought Coca-Cola when everybody started dumping Coca-Cola shares and that's why he has a lot of shares in Coca-Cola because he asked himself, "Are people still going to drink Coca-Cola one year, two years, five years, ten years down the road?" The answer was Yes and that's when he bought.
You got to ask yourself the same question,"Are people going to use cryptocurrency one year, five year, ten years, twenty years down the road?" And if the answer is Yes, then you got to be buying or holding on to your cryptocurrency and keep believing in it.
There are some Reddit whispers, a couple of telegram groups and I found this thing that is very plausible which says:
Asia still dominates the crypto trading by volume.
We all knew this, and that is something really positive for me because there is a lot of potential and a lot of money to repour into cryptocurrency by the Western world.
So still if we have this major dump and everything is losing value, you can buy back knowing that it's going to happen eventually, if it's going to take a year, two years, five years I don't care, this money is going to be poured into cryptocurrency. So we are just going to be buying.
Chinese Lunar new year is weeks away, which I believe would be a really good sign for cryptocurrencies, as people would be spending tons of money buying gifts, traveling etc, which shows that a lot of money is coming back to Fiat.
This Chart from the last four years is also showing this trend.
So at the end of the day, you are just going to buy low and sell high.
What are your thoughts on this? Would love to hear from you guys too.
Thanks
