Oh, how quickly the times change. In 2018 we couldn’t get an up day in crypto to save our lives.
The last time I wrote about it was in November 2018. That’s when we had already dropped below 6k and were search for a bottom.
But that was the last time I wrote about crypto red days. In fact, the signs we were emerging from a crypto winter were there. I wrote about them in December 2019 and this March and April.
Now that cryptos have been going down since the end of June, peoples are freaking out again.
The chart below shows the total crypto market capitalization. As you can see we peaked in late June around $385 billion. It recently hit a low of $250 billion.
That’s a 35% haircut in just a month. So naturally people are worried.
I think a lot has to do with the fallout of Facebook’s Libra. Basically every government on the planet has come out to denounce it. Cryptos in general are getting caught up in the storm.
So, what to do?
DCA… dollar cost average.
Crypto is so volatile don’t try to time it. Put in a set amount of money on a consistent basis. You won’t end up with the best price… nor the worse price either.
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