The market has definitely taken on a downward spiral. Seems like the bubble has popped and major corrections are occurring. Was Bitcoin over-valued? Probably was. As I witnessed the value of all major coins fall, I found it interesting how it took down the value of all the other alt coins. As stated in my first blog, Im still relatively new to crypto currency. Seems like the phrase "a rising tide raises all ships" is also applicable in its opposite, "a tidal wave wipes out all ships" LOL. I meant that as a joke. I do not believe that cryptocurrency will go away, its only the beginning and major corrections like this occurs in all markets. There was definitely a hype for the past couple months which only attracted short term money gainers. All my other peers who are heavily invested in stocks did not jump on board immediately, wise decision.
I'm still doing my best to stay strong. The more I learn about blockchain technology and its uses, the more confident I become that this technology will last and change how the world exchanges value. Definitely optimistic about this and being in the right telegram groups do help. But I am a young millennial and any signs of losing money is not always positive news. But I remind myself that I am here for the long haul and willing to invest more during times of opportunities like this.
"When everyone starts buying, sell. When everyone starts selling, buy"
- Jonathon Sacks