Sweating Bullets Over The Crypto Price Drop!!!

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Written by

ahmadmanga

A Multipotentialite. Learning something new every day. Anime/Manga & Games are more than e... [more]

1 year ago

In community: Just Write(e5e5)

Topics: Cryptocurrencies, Blockchains, Crypto, Bitcoin Cash, BCH

This hit me harder than it should!!

Yesterday, I noticed the USD value of $BTC, $BCH and $HIVE dropping. I smiled "here we go again." It wasn't unusual.

Then, it dropped again, and it continued to drop... I started to panic as I don't think prices could recover soon after something like this.

Apparently, there's the whole FTX exchange being sold to Binance story. It happened at the same time as the prices drop started, so I think some rich guy sold off their crypto holdings or something because of it & that started the whole crash.

I don't have a lot of Crypto holdings but my main ones aren't stablecoins. Bitcoin Cash (BCH) is one of the most important to me. Between the 8th and the 9th of November 2022, the price dropped more than %16!

Throughout yesterday my Readcash's wallet's balance seem to keep decreasing in USD value after each Tip given to me by @Therandomrewarder. instead of increasing, that's how fast BCH was dropping yesterday. (Though since the BCH value is the same, maybe it's not that bad...)

I was thinking of buying a few things in this sales season, maybe that's why I panicked.

Now, after writing this, it doesn't feel as bad. Blogging therapy is a thing, it seems... The prices are gonna correct, or I'm gonna get used to the new ones. Rewards aren't going anywhere, and the crypto space has dealt with worse damages.

At the time of this writing, the prices still keep their downward trend. I'm already used to it by now. Comparatively. I just hope they go back up soon.