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Tuesday, September 28, 2021

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Domov Reddit Be Kind to Those Terrified by This Crash

Be Kind to Those Terrified by This Crash

First things first, this is a crash, not a “dip”, so please don’t minimize how people are feeling watching most cryptos drop more than 40% in just two days going back to the prices they were 3+ months ago. Making unnecessary jokes and saying things like “WELCOME TO CRYPTO NEWBIES” doesn’t help anyone.

I have the luck (or maybe not) that I have already experienced a crash as my first experience into crypto when I used part of my university fund to buy in around late 2019 just before the Covid crash hit crypto in early 2020 which drove the prices down terrifyingly low (yes I understand it was dumb to invest that way, but at the time things seemed well enough to do it and I never could have predicted a pandemic.)

So because of this I don’t fear what’s going on right now because I have seen infinitely worse and got to watch the market recover and thrive, but back then when I experienced my first crash I remember having anxiety attacks over the idea that I may have lost everything, especially during a pandemic where money isn’t the easiest thing to get access to. There may be some people who put their money into crypto hoping it could get them out of a bad situation that covid caused and now they are watching that dream get snatched away from them in real time. It’s a scary feeling, so if you see people on this sub, or other subs constantly spamming their concern please try to empathize with them (especially if you’ve experienced a crash yourself) because it’s the right thing to do.

Just remember everyone that crypto is definitely here to stay, but if you REALLY do need the money you put into it then don’t feel pressured to stay in just because people are spamming “HODL” everywhere. Your well being matters more than anything and you can always buy back in at a later date when you feel more comfortable to do so. Take your time.

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