Alright you depressed fucks, let me shed some real light on the matter.
Is the crash real? Yes
Is the crash happening? Yes
Am I fucked? For the current time being, right now, yes.
What’s going to happen and what should I do?
Well, I read a lot of of analyses stating that they expect a BTC crash to 20k before the next 75k + bull run. How long will that be, no one knows.
What should I do in this situation?
Well assuming you didn’t time the market and sold at the top and you’re holding all your cash and profits monitoring the dip my suggestion is this.
Current loses make it not ideal or a smart move to sell
Hold your investment and forget about it
If the crash is for real (might stay for a while), the prices might pick up on the week days and than crash further on the weekends. My personal advice, you won’t be missing out on any buying opportunities for a while, so don’t feel pressured. So, that means just hold your shit together and when you get paid and this shit continues to dip into the abyss, by more over time.
Hold your shit, delete your wallet if you need to. Forget about it until the next bull run. You’re investment might seem like a loss now, but if you hold at some point in the future it’ll be a profit.
Treat this crash like a mutual fund or bonds, where you’re money is locked in for a year.
Bonus, separate your emotions from the crash, live life, average down when you can afford it. Move on with life.
This is my personal message to everyone, I hope it helps.
Edit: I’m even HODLing my shitcoins, that’s the type of game we’re playing.
Don’t let life’s challenges defeat you, you defeat them. Overcome with the pleasure of learning and applying and being in the field and part of the field. You think and analyze and remember, rewards are given to those who work hard and are patient. Make smart moves as best as can be and don’t beat yourself up from any loses but grow and expand from them.
Also we’re all in this shit together and don’t forget that your not alone, just know that 😂
BTC didn’t go from $0.01 to 65k in a day. It’s actually the fastest growing commodity in the world. So remember that.
I’ve seen some comments and I wanted to clarify something to everyone. I’m not stating that you should hold onto you’re investments if you don’t want to or if you think it’s better to sell now and buy back when it’s lower or whatever. Your personal situation is exactly that, your personal situation that only you can control and your decisions are for you to make.
What I’m trying to state is depending on your situation and amount of losses you’ve incurred, it would be more logical to hold your current investments and wait for the crash to get to its bottoms and buy the bottoms with new funds and average down. Therefore with time, once the market does another correction and trends upward again and reaches new ATH you’ve lost nothing and if anything strengthen your position and averaged down.
Again, this is completely personal to you and what you’ve invested in etc.
Trying to “Time the Market”, can be a very dangerous thing and possibly incur further loses, so that should be considered as well.
Last but not least, let’s not forget two very important factors here. At some point in the future, crypto currency will separate from USD and BTC. That’s when all these amazing projects will flourish and grow even more.
Also, when I state BTC, I’m talking about both the coin but also the crypto market as a whole. Right now, BTC is almost like it’s own index that all crypto follows. Wait for the future when this will no longer be the case, and as crypto grows and matures, things become more independent to one another.
And thanks for all the awards and the constructive conversations in the comment section!