[over react mode]
AAAAAAH!!! PANIC!!!!!! WHERE'S THE BALCONY SO I CAN JUMP OFF!!! DAMN, I LIVE IN A HOUSE, NO BALCONY!!! AAAAAAAH!!!!!
Take it easy, calm down, breath, breath, OM MANI PADRE SPATIEM OOOOHMMMMMMMM!!!!!!
[/over react mode]
Okay, that's maybe a bit of a huge exaggeration, but I do feel anxious and nervous right now, with the crypto markets crashing like the Hindenberg!
I have never before felt so involved in the cryptocurrency market as I am now. Of course, most of the rewards I received from Mr. Marc De Mezel are still in my wallet, HODL-ing like I've heard I should, I've diversified a little as I've read was a smart thing to do, but some of it I've used to try and make some profit trading.
So I was fiddling along seeing if I understood margin trading a little bit, and I wasn't doing too bad. I was up almost €10,- worth! I thought, one more order before I go do the things I gotta do, buying Bitcoin Cash (BCH/EUR) with margin and that's when it seemed everything went down harder than lead in a bucket of water!!
Now I'm stuck with a debt of about €80,-, the value of my total holdings in my wallet has gone down more than 26% over the last 24 hours (not entirely confident this is just because of price drops tbh) and the end doesn't seem to be in sight!
So sad, and interferes with my planning.
I can't imagine what people with large amounts of money invested in BCH or ETH must be feeling right now, like @MarcDeMesel, but I know I am getting anxious. Not only because of what is happening to the rewards I got in and of itself but also because I really wanted to make those rewards work and grow to show Mr. De Mezel that his rewards didn't go to waste.
I had intended to become one of the examples of how Bitcoin Cash could be used to rise up from poverty and make life better financially when you were smart, HODL-ed, and so on.
Sounds corny but in a sense, I wanted to make Mr. De Mezel proud of me for making good use of the opportunity I was given.
Advice about anything except this
Strangely enough, I can really find very little advice on the internet on what to do in this situation. Should I cash to fiat and wait until the markets bottom out? Should I stubbornly HODL and hope that things will turn around? Should I exchange the coins I have now for coins that haven't nosedived the last 24hrs?
And what about the margin trade I was in? I still have a debt. Should I sell the BCH, repay the loan and just take the loss before it gets worse, or should I just sit and clench my but cheeks tight (right now you wouldn't be able to put a piece of paper in between them!) in the hopes the prices will bounce back before I'm forced to liquidate?
So what AM i going to do?
Right now my emotions, gut feeling, and my nerves tell me "DO SOMETHING IDIOT!!!" but unfortunately they don't tell me what exactly I should do. So for now, until I read (on tradeview, coinbase, Cointelegraph or reddit) everybody doing something else, I am going to suck it up, resist the instinct to cash out until the markets bottom out, and HODL.
Yes. That's right. That's what I am going to do: Nothing.
If that is stupid and I should do something else, please do tell me in the comments. I would hate to lose everything within a week of finally having something worth being concerned about!
Wish everyone little loss and quick return to rising market!
Regards,
AnonSunamun
Relax, crypto assets, just like other assets, take time to mature and provide a good ROI.