FUD... so many people seem to fail to remember that only within the past couple of months we had an insanely high spike that was artificial due to media hype for the first time. Before that most people had never heard of bitcoin/cryptos. So a lot of people threw money in who were unprepared, and now because of FUD they're panicking and exiting crypto.
It was bound to happen. Look at every single graph of almost every single crypto in December... they grew like 1000%. Bitcoin went from $2-3k to $19k in a matter of weeks. Even if it falls to $7k before it stops and finds support, that's still 2-3 times higher than it was before December (only 2 months ago.... bitcoin has been around since what, 2010, 2011?). And from there we can have steady, healthy growth.
Basically everyone needs to chill out... this is why there's FUD, because people are panicking.
Sit tight everyone! Cryptocurrency is struggling right now, yes, mostly due to lawmakers and crappy people, dishonest scammers. However, due to the nature of cryptocurrency it won't be going away and here is why. Decentralization, cryptography, and p2p networks make it almost impossible to eliminate. People will forever be able to transact cryptocoin privately, at least as long as the internet is around.
Sadly for me and many of us I would imagine, I didn't really get into it at an infant time. So this hurts, but down the road it will be a good investment. That I am pretty sure of.
So Instead of focusing on the face value of Bitcoin and other alt coins, focus on the tech that drives them and how the world is slowly optimizing towards the presence of “the blockchain”. If you look at the larger picture, it’ll make you feel a little more at ease when it comes to your investments. Keep your eyes on the bigger picture and have faith! I know I still do.
Warm Regards,
BlueHeartedTrader.