When daily you are seeing reports about the negative trend in the crypto markets, how is one supposed to keep their sanity? When a headline like “17 Billion Deleted From Cryptomarkets in 24 Hours” ( CNN) how do you stop the fear, doubt and uncertainty from crashing over you like a tidal wave?
With so much value being subtracted from the crypto markets, it's hard for the small guy to keep his grip. The losses experienced so far will reverse themselves, or so the crypo-enthusaists would have us believe. Just HODL on and pray that the money you have tied up doesn't disappear like a fart in a high wind.
I am one of the few people I believe that have little actual fiat invested in the crypto markets. Ive utilized Steemit (and other sites similar) to expand my crypto holdings without investing muct actual cash into buying crypto. No, I don't have much and, no, it still sucks to watch the value of what I have accumulated drop...but my situation isn't in the same league as the guy who dropped 20k in the markets last year only to be holding maybe a third of that today (if they weren't VERY lucky that is.)
No, the only thing that one can do is have faith that this thing we have ALL created....through faith, sweat and perseverance, won't be undermined by bureaucratic bullshit and big money bent on manipulating and controlling this thing. I have to believe that the will of the people...not just in the U.S. but everywhere, will make the difference that is so sorely needed. There are just a few things that need to happen, in my humble opinion.
- Little government oversight. It is sickening to watch the federal governments trying to step in and regulate markets where they aren't wanted. We are all grownups here. There is no need of a wet nurse to hold our hands and decide which investments are “safe enough” for the average citizen.
- Banking acceptance of crypto. Banks are going to have to get inline and accept that crypto is here and people are going to use it. Otherwise they are going to wake up one day and realize they have lost a great many customers to alternative banking methods.
The second of these is the most critical. If your bank accepted the top 50 coins on Binance deposit withdrawal and payment, this would solve a great deal of the instability we see in the markets, in my opinion. Hell...even just the top 10 coins being accepted would create instant stability.
Well...I've ranted enough I guess. Any opinions regarding the current state of crypto would be most appreciated.
I am not a financial advisor and in no way is this article meant to be taken as such