With the recent swings into the red sea by Bitcoin and many Alt Coins, there is a lot of talk about whether a real reversal is in motion, or just a mere consolidation before the next massive moon shot...let’s look at some of the facts below.
-Bitcoin is down about 30% from a month ago, yet up approx. 1000% from a year ago.
-Although Ripple appears down in recent times, it’s actually up 35% from a month ago.
-Everyday of the week new stories are being published about Crypto currency and Block chain, momentum in the industry is pushing forward, and well-known massive companies are sinking their teeth into Crypto by the week.
In Recent News:
-South Korea just announced that they will be taxing crypto exchanges 24%.
-Vermont will be the first to host the launch of a program for utilizing Blockchain technology to securely record
One thing hasn’t changed though...Many people haven’t quite figured out how to value the coins and companies.
What’s more, the recent breakouts have attracted many people to the scene looking to make quick money, who really know next to nothing about the investment side. Likewise, recent dips have been causing freak-outs by the inexperienced investors who are having adverse reactions to the hardcore volatility.
Ironically, many of the newbies who claim “HODL” all over social media, don’t quite understand what it means. Due to the lack of regulation, simplicity, and transparency, in the crypto market, it’s quite possible that you are a fool if you expected to get the money back that you sent to Coinbase, Binance, Kucoin, or other exchanges.
But before you get bent out of shape, remember the keyword above: expected. This is the Wild West, and anything can happen tomorrow- good or bad. Putting your money into Bitcoin or Altcoins is the definition of risk vs. reward. Many people have cashed out and seen great reward- including teenagers who are now overnight millionaires. While others have gone as far as taking out loans in order to finance a “can’t lose” investment at the recent peak levels, which some ended up cashing out on the way down- the definition of going full retard.
There is no question that the crypto currency scene is experiencing a ton of publicity, commotion, and volatility, and we think that it’s not too late by a long shot to see massive gains. Our point is: don’t expect it, and don’t rush it. We advise that everyone’s savings/investment portfolio include a modest percentage for speculation (5%-15%), and in our opinion this is the perfect opportunity. Blockchain technology is paving a path that many people would not have believed possible a decade ago- the haters, naysayers, and ill informed.
If you’re going to HODL, then do so. It is very possible that we are going to see an even bigger correction before the next breakout, and if you think you can time it then great for you, but most people will miss it because it will happen unexpectedly and fast. Your portfolio does not need your attention each day. Remember you didn’t lose a dime, or make a dime, until you sell. So our first and best piece of advice after investing is: unless you are an analyst, trader, or truly looking for a particular price level- STOP checking your portfolio each day (and many of you several times a day). It's not healthy, and it's not helping you. Now HodL on..
Visit Our Website @ https://www.thecryptogeniuses.com/
Follow us on FaceBook @ https://www.facebook.com/TheCryptoGeniuses
Follow us on Twitter @ https://twitter.com/CryptoGeniuses
Follow us on Tumblr @ https://www.tumblr.com/blog/thecryptogeniuses