 | So looking at the most recent chart We are bouncing off a major line, basically broken out of a channel towards the downside, and the overall mood + gov isn't looking good. I'm not saying it can't or won't bounce back. But the more we go, the more I'm thinking we are in another long cycle. We will see. BTW this isn't financial or investment advice. Search is showing people aren't looking it up or caring about it Day before yesterday it was 27. _______ Now, what do we do now?As I mentioned, we could bounce back. But things just aren't looking good on all fronts. It isn't I'm expecting a massive sell off. Between gas prices, increasing inflation, SEC vs XRP, normal markets are off a cliff, companies are pulling back their remote workers instead of saving money and letting them stay remote, the Fed hike soon, and so on. I'm not expecting us to go to a ATH any time soon. Like we can easily jump back in the $40k-$45k. But it isn't worth noting until we hit $50k IMO. What I'm doing is simply holding and doing my research. The reason why is you lose a lot less than what you gain with the price going down, and I don't expect the price to half what it is now. Lets use basic math to explain this. Lets assume price per coin is $100, you spent $1,000, and it goes down to $1. Your value now is $100 Now lets say the price is at $1 per coin, you put in $1,000 worth, and the price jumps to $100. You just 100x and you are worth $100,000. So IMO the only reason to sell at a loss is if you
Because as long as if you have the money, and you think the price will come back up. You could just end up holding, buying more at a lower price and keep going. So times like this, it is worth doing some research into whatever projects to see if they are actively working on whatever, to see what people think, to see if you should buy more or jump ship, and to figure out the chances of a speedy recovery. This applies far far far more to coins that just started last year. They should be already starting or already working on the project. And note all the projects should be taking a hit. Look even at the normal stock market, or look at a crypto heat map So don't look at the price and wondering "why not moon" or whatever. Look at the project and wonder "why is no one working on the project" [link] [comments] |
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