FOMO Reset
We all find ourselves saying "I wish I got into X earlier, I think I missed it" or "I hope it dips a little bit so I can buy some more" but then look at the news around the crypto sphere and it looks like the world is on fire.
I can't understand it.
This dip is a gift for those who have been watching prices skyrocket over the last few months without being able to accumulate. This is the fix for FOMO in my opinion, it's like a reset with another opportunity to get in.
It is purely psychological that the dip scares people and it is ironic in my view. People ask for a dip all the time and then when it comes there is too much fear to take action. If you are trusting in your investment plan, I don't think that short term price should matter. In fact, a lower price would be a welcome site as you are able to accumulate more tokens for your purchase. Dollar cost average proponents are salivating with what the market has done the last 24 hours.
The Damage = The Opportunity
- Bitcoin is down about 40% from its ATH
- Ethereum is down around 35% from its ATH
- Cardano is down around 27% from its ATH
- Leo is down around 70% from its ATH
Now I am no financial advisor and I could be totally wrong here, but I believe in all of these projects and can't imagine them not retesting and surpassing these ATH's in the future.
If you haven't blanked 2020 out of your mind completely you may remember that Bitcoin took a massive dip in March 2020 from around $8000 to below $4000, a dip that was over 50% of its price. This is nothing new. Think about how it would have felt to get Bitcoin at $4000 and then watch it testing $60,000 just a year later. Who knows? This pattern could very well repeat itself with an extra zero on the price tag.
To me the dip here seems quite synthetic and even propelled by fear. China seems to ban Bitcoin all the time, I don't think it should reflect a dip of this proportion. None of the infrastructure has changed or gotten worse. The great projects are still great in my opinion and still maintain the forward thinking vision that has made me believe in them from the start. It feels like this dip will be short lived... NFA
My Plans
Currently my main financial focus is getting the initial funding for the new tribe @dunksocial together before our desired June 1st launch. That being said, I will be trying to accumulate both Bitcoin and Leo tokens in the coming weeks if this dip is extended long enough that I can cover expenses and have investing funds left over.
If it were possible, I would be stacking tokens from all of the projects that I mentioned as I am partial to believing that these are some of the biggest world-changers in the future. Do your own research, but these are my opinions. To me this looks like a discount on the projects that we have been believing in for all this time, why change up now that it is more affordable to accumulate?
@mariosfame gif once again, I love it
Links and Connections:
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Who I am:
My name is Rob and I am a college student doing my best to get involved in the crypto world. I have enjoyed blogging thus far and thank you for reading my article! Give me a follow and let’s build the community together through consistent engagement.