Bitcoin - is it time to board or jump ship?

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Avatar for Jnavedan
1 year ago

This is the question many will be asking themselves right now in the crypto-verse as the cyclical winter hits the market.

I don't remember where I heard or saw the expression "the rats are the first to abandon the sinking ship."

Perhaps, it is the two-legged rats who took their money and ran away in terror. Hahaha

Out of jest, I say this because I wonder, where did the capital of almost three trillion dollars go?

No doubt, they are very wealthy rats.

Sorry for the use of little animals to express my ideas. It is not my intention to hurt anyone. I am aware that in this area, the predominant animals are called whales.

Also, science constantly abuses rodents for a wide range of experiments which they then apply to humans.

Now, the capital of the crypto market is below one billion dollars. A setback of more than a year and a half if we look at the graphs of Coinmarketcap.

However, the important thing for you who read me is to know which boat you are in or which one you should get on if you enter the crypto sea.

You don't want to get on a Titanic-like vessel without enough lifeboats.

Bitcoin would seem to be the safest. But one must consider that not everything is what it appears to be.

Today there are thousands of crypto projects that will come to an end before they sail into deep waters.

Some say that Bitcoin is outdated and will soon be dethroned by new technologies in development.

So if you want to be in the right place at the right time, you will have to do your homework and research the fundamentals of the projects.

Unless you have the gift of ubiquity, this will be impossible.

Well, let's not be extreme! In the financial world, this gift is determined by available capital. One problem solved.

Although this is not financial advice, I would not stay on the Titanic for more obvious reasons.

I would look for the ship with the best crew and enough lifeboats in the face of a calamity.

Also, I would hurry (to know) that on land, fire threatens to consume me.

In my opinion, Bitcoin is the Titanic of the crypto-verse.

It looks big and majestic, attracting institutional investors; who are in and out of the betting casino (long and short).

Wait a minute! This reminds me of an urban legend that states that the Titanic was not the Titanic. That is, it was a sister ship ready to sink with the enemies of the creation of the US Federal Reserve.

Sure, you know the story better than I do.

In such a way, the theories and hypotheses about it flood the channels of the great fake' industry and have popularized it to create doubts in the population.

In that sense, the majestic Bitcoin is not Bitcoin. But it is the fake Titanic.

I would be a bit confused if it were not for the acronyms BTC, BCH, and BSV, just to name a few.

In any case, one should take Satoshi Nakamoto's Bitcoin white paper as a reference to identify which safe vessel one should take.

If you are in the wrong boat, there is still time to get off and board the right one.

Don't be fooled by hype and siren songs. If you have to tie yourself to the mastiff-like Odysseus, do it but make sure you are in the right boat.

An original article by @Jnavedan

The thumbnail by S. Hermann & F. Richter on Pixabay 

Cover image by 愚木混株 Cdd20 on Pixabay 

I end by thanking all my colleagues in the community, who add value every day here. As well as all my sponsors for believing in the content I share with you.

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1 year ago

Comments

I think [most of the] cryptos stay because of the hype... we're all not sure what ship to jump in! We're all at risk after all.

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1 year ago

The hype is probably true for most cryptocurrencies.

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1 year ago

I totally agree with you on this, my friend.

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1 year ago