A popular cryptocurrency forum on Reddit has been prompted to offer suicide prevention information as the majority of cryptocurrencys have continued to slide in recent days.
This has mostly been due to the tightening of restrictions on Bitcoin et.al starting with South Korea, a country where Bitcoin has exploded in popularity.
There are rumblings elsewhere such as China which has not helped ease market worries.
This could be seen as the first major test for crypto.
It is not suprising that governments will try to clamp down on unregulated and decentralised transfer of money. Interestingly one of the few cryptocurrencies to rise in the last few days was Tether which is a fully centralised crypto pegged to USD.
Eventually crypto will find its place. But this shock will certainly help seperate the bears from the bulls and im sure there will be further interventions by nervous govenments, most likely because of close links to central banks and fait markets.
How much of the punishment you can take is up to you but please dont do anything rash. Markets by their nature are volitile, its part of the ride.
So I guess this one's for the HODL'RS
Let me know what you guys think.
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