Cryptocurrency: Things fall apart #BitcoinCrash

We all have to admit that during the last few days and weeks things have fallen apart in the realm of cryptocurrency. It's not like the hype is over, but that the hype is no longer mixed with the reality of what cryptocurrency is and how it works.

The truth of the matter is that we are still in the early stages of cryptocurrency. The stories are still being written, and we know very little about what's going to happen in the next few years. There's a lot of speculation, and a lot of that speculation is rooted in what people want to believe will happen as opposed to what will actually happen.

Things fell apart this week in cryptoworld. In what I would characterize as the worst week of cryptocurrency. The average crypto investors are seeing shattering returns as bitcoin is still trading below $29,000.

The alt coin market is on a decline, Bitcoin is experiencing one of its worst periods in years, and the entire cryptoworld seems to be struggling to find its place back upward.

You may feel this is a bit dramatic since the cryptocurrency market is going into disarray. However, if you are a trader, you know things are not good and they are probably going to get worse.

Many people have made fortunes investing in these coins. I am a huge fan of these technologies, but just as the real life bubble burst, we are seeing similar signs now with cryptocurrency.

With the crash of altcoins and the rollercoaster of Bitcoin. Some people feel like idiots for buying into cryptocurrency that have crashed, for buying into altcoins with no real technology, for blind believing in things that turned out to not be real. They bought and held on to a belief because someone told them to do so and now they're broke.

The thing is, most people who invested in crypto had no clue what they were doing! People were either buying on hype, or because they saw other people do it and thought they'd do the same. Very few people researched how these new cryptos work or how these technologies work. Most of them doesn't even understand what has happened and are scared of losing even more money. The market is down now most of these people have lost a lot of money!

Many people who didn't invest were equally as excited (or not) as those who did. And they are equally as angry or scared as those who did invest in it. They feel like they missed out on opportunities or that the ones that did invest took money from those who didn't.

What is the way forward?

The solution to this problem is not clear, I won't lie. Cryptocurrencies are so complicated and volatile in nature that it will be difficult for anyone to get ahead of this market. However, often times during times of distress, opportunities arise and we are going to try and take advantage of it.

The more time passes, the more I am convinced that people should buy and hold as many cryptocurrency as possible. This is not advice based on "if" but more on "when," so please pay attention:

But as I have said before, things are falling apart in the realm of cryptocurrency. It is not a secret that there are a lot of scam coins out there, but one pesky aspect of this sort of scheme is the impact it has on the legitimate coins.

This current situation in cryptocurrency is both a blessing and a curse, as I'm sure it means that there are plenty of opportunities available to those who are willing to risk everything to make it big in this new world.

Thanks for reading 💚💚