Ok, so 3 million South Korean's riding in on horse back to save the day with their newly formed regulated accounts has not gone so well.
We now find ourselves in a worse situation then a few days ago - %25 worse if my Alt Folio is anything to go by.
As of my last check before writing this, the Crypto Currency Total Market Cap had fallen to $408 billion and is probably not finished brutalising us.
I think it is time to accept their will be no quick bounce back here. Regulation FUD just keeps coming, South Korea settle down only for UK or India politicians to scare the market again. Then we have this whole USD Tether thing, it just seems new day, new FUD ammunition for the global media vultures.
So we have ourselves a full blown Bear market which could continue on through February and March as well.
I believe that once all this regulation talk that was inevitable by Governments settles down the Crypto Currency Market and the Blockchain as whole will come out the other side stronger.
Fuck you Bear
In the meantime expect USA and the UK in particular to jump on the regulation train as both have hinted it would be coming soon. That'll have another huge affect no doubt. We just need this growing pain over and done with so we can all resume the whole getting rich off Crypto Currency thing.
In the meantime the same options are on the table as always.
You can:
Sell up - If it has all got too much and you don't want to play anymore I suspect you would of already done that by now
Sell and rebuy - If your good enough to judge these dips and think you can make money off it good luck to you. I'm not
HODL - Like a possum in the headlights you are frozen stiff. You are not selling but you are not buying either
HODL and buy - This is the option I am taking and the one that could be a life changing decision
If you are brave enough, now is the perfect time to just pour all your expendable income into coins you like.
Right now I am picking the coins that have a low circulation supply and a really good real world use. Coins that have a real value outside of their economic one.
We all or at least most of us missed the Bitcoin chance a couple of years ago to set ourselves up for life.
What if this a new chance just like that one? Sure there will always be dips but what if this is the last time we ever see the Market Cap this low.
Once these countries regulate it that's that, they can modify the regulations sure but short of banning Crypto altogether there is no further mass destruction FUD headline affect they can have.
"If only I bought up Crypto back in early 2018 when everything was so cheap, I'd be set now."
Will people be saying that?
Dunno, I can't tell the future guys & gals but right now I am taking a flyer on buying up as big as I can.
I figure:
If I buy up and it doesn't go the way I hoped then heck I am still a wage earner until I'm 65 with a big mortgage.
If I do absolutely nothing then I am still a wager earner until I'm 65 with a big mortgage.
If I buy as much as I can right now maybe I'm just a part time wage earner until I'm 65 with NO mortgage. Who knows but I'd rather take a shot at something then accept nothing.
So could these next couple of months be a life changing opportunity that we just need to recognise?
Who knows but it's worth a thought and makes for an interesting Steemit article!
Whatever you decide good luck to you all.
Keep chasing that Dragon
- Dahmsy