If you've followed my blog for a while, you'll recognise the title and image used here. That is because I posted this during similar circumstances last September. It was actually just a few days before China announced it was ending the world and we saw a fairly rough time for at least a month.
Many people sold lots of NEO for $23 each - ouch! (An older [NEO] post from August 2017 you may find strange in today's world HERE.
Some people sold their Bitcoin for $3,200 - that must have really hurt!
Some of us just watched TV, read up on the latest Web 56.0 super crypto that "tackles the pressing issues of scalability" blah, blah, blah...and BTFD! (BTFD is a term for when one purchases lots of cryptocurrencies while they are down 50% on normal values)
The future
Is the bubble about to burst? No one knows. It can be scary to watch your portfolio drop 50% in value, but it was just as scary last September and I believe late November (or was it October?).... I probably mentally block them out a bit these days. I do sometimes check in on the latest count of Bitcoin Obituaries to see if the story has changed much.
Either way, your options are this:
Sell everything to cut your losses now
Not do a thing and wait until a an elderly relative tells you the price of Bitcoin and asks you to buy them some on the "interwebs" (probably the highest ranked of all bullish trader signals!)
Carefully analyse the prices of cryptocurrencies you previously thought were too expensive and see if you can catch 'em all
I can't tell you which option is right for you, but do take it easy and think before you make any serious moves.
Take a look at my recent articles HERE and HERE to see if they might offer insight as to why I decided to prepare to hold rather than take profits and cash out. As I say in my post about understanding markets, you should never follow anyone blindly and should do your own homework, but hopefully in this case, insight and information will be helpful.
I'm also still happy to stand by This analysis and hypothesis on Ark. There are minor caveats however, that I didn't realise the world was going to be ending today and that I don't recommend this as a trading opportunity. It is for those that are 100% confident in the long-term future of Ark and looking for an entry point only.
Let me know your thoughts or if you have any questions in the comments below. Be safe and be lucky everyone!
This is post only contains my personal views and opinions and is not financial advice. You should always do your own research and only invest what you can lose to afford.
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