Fear Everywhere
Never go all in, don't use leverage (unless you don't mind losing everything) and dollar-cost-average for the longer term. Those are the (non-financial-advice) lessons newbies should learn from the ongoing "crash".
Understand that the current price of Bitcoin is based on speculation on a very small percentage of the available $BTC. Most of it is sitting in cold wallets that have been effectively locked away by institutions for the longer term. If all that coin was sitting in exchanges, then the price wouldn't move as much as it is doing now, despite traders selling of as though it were a commodity or tech stock.
Remember that there are whales about manipulating the market. See what just happened to TerraLuna's TerraUSD ($UST). Why would anybody "dump" a stablecoin? It's not as if they're making profit, or there was a price crash risk. It's to destabilise it and break it's peg. Someone that doesn't like the project? A competitor? The government? Banks? The IMF? Who the heck knows? It's an algorithmic peg, so how better to attack it but algorithmically?
Tomorrow, not literally tomorrow but the eventual tomorrow, everything will return to normal and the coins will be going up again. Today has past and Putin has done nothing unusual, despite it being used in the generally spread FUD. Victory Day has been and gone in Russia without incident.
Did you notice how Coinbase (if you use that garbage exchange) simply locked people out during the crash? They locked you out, not the whales. Now that some of the prices have recovered somewhat, the bogus "check your Internet connection" message is gone. One day there will be a massive lawsuit I tell you.
I watched my HODL portfolio almost halve today. It wasn't pleasant, but I have learn't to separate my emotions from the numbers I'm looking at on the screen, knowing that they go up and down. It didn't actually even go that low, even though we achieved a new yearly low for 2022.
$LUNA was decimated today! Thanks to (what I believe to be) a targeted attack by a hostile party it crashed by 50%. Crazy stuff. I've been through worse though - -70% and -90%. Those were hard times psychologically since I was till quite new to this stuff back then. I'm battle scarred now, like the rest of you crazy lot.
We have couple more FUD days to come, including the report everyone is waiting for. I think that's going to be a big giant nothingburger as well. I really ought to have sold my car and bought a shitcoin like $SHIB. That's going to moon pretty hard once this episode is over.
Peace & Love,
Adé