The past 2 weeks of the crypto market has been a very painful experience for most crypto traders and holders as most altcoins have been down to more than -50% of its value. Fundamentally, it was not really expected for it to happen but after the CEO of Tesla, Elon Musk, tweeted negatively about Bitcoin's power consumption and the suspension of Bitcoin as a form of payment for their products, lots of FUDs came out one by one, even the old ones, and it heavily affected the market.
As the time I'm making this article, another bad news from China just came out.
https://mobile.twitter.com/DeItaone/status/1395744949543522304
It's not new that China hates decentralizations and they are against cryptocurrencies, but unfortunately, the market reacts negatively about their sentiments. And in fact, since 2013, China has been making noises about banning cryptocurrencies, so it's not really new.
The current market is really stressful especially for everyone who are just getting started in cryptocurrency and somehow bought at the top then suddenly experience this huge correction.
Many people speculated that what is happening right now is the beginning of the bear market, adding more bad sentiments and doubts about cryptocurrencies. But I will say no, I can even say that near market can be impossible anymore.
Why?
Adoptions! Yes, cryptocurrency are gaining more attractions up to this day when compared 5 years ago. Huge companies, retailers, institutions and even small capital market are taking part in this technology and it will only be a matter of time before cryptocurrency and its solutions to be fully recognize by the world.
If You Are Stressed With The Market, This Is For You.
I know most, if not all, of us here has been holding a certain cryptocurrency that we truly believed in for some time now or for a long time. And with the current market and all the FUDs that has been coming out, you might be wondering if it is still worth holding your coins. But think of it again, is it also worth selling?
With all the negative sentiments we read in social media, we can be prone of making a very bad decisions if we are to focus in the price of the coin you are holding, so take this friendly advice;
Stay away from the market and stop looking at the charts of your coins. With the current situation, and all the FUDS circulating in most social medias, it might lead you to a very bad decisions.
Just enjoy noise.cash and read.cash platforms. Currently, it is really fun making noises in noise.cash as your heart are more valuable compared to what it was. Enjoy what the platforms are offering as it is also a good way of accumulating more BCH in this red market.
Go out and have fun. Don't stuck yourself stressing for what happened in your portfolio. Enjoy some time with your family and friends. After all, family is still what matters the most.
If you invested in a coin that you truly believed so much and it's not your life savings that you used, there's no need to panic and worry. Though I am not 100% sure, but the market will takes time for it to heal and your portfolio might recover in the meantime.
Final Say.
This article is not a financial advice, but since it somehow tackle about your money, you can still just ignore this. After all, it is your money. So whatever might happen or what you do to your portfolio, the only one responsible is you - not anyone else but only you. So trade with your own risk and control yourself.
END.
Yes nobody can give good financial advice here especially when it comes to crypto. Who bought their coin at high price as you said they see a loss now, so I would not sell it. Those who bought them 2 months ago (talking about BCH) they still in profit. I am holding it still creating content and making noise and enjoy life. No stress! Thanks for sharing your thoughts.