Extreme fear, people throwing in the towel, selling all their crypto, it’s complete chaos right now.
Let’s take a moment to really zoom out, step back, shut the laptop, go for a walk, meditate and breathe.
If you’re emotional right now, you have every right to be.
I’ve never in my 5 years of crypto seen anything like the last 3 days we’ve just had.
In less than a week, we have seen $500 billion wiped off the market, a top 10 asset gone to $0 in 3 days and one of the leading “stable coins” depeg and lost 70% of its value.
This is why crypto is the wild west.
I’ve seen so many stories flood through of people that were SO OVER LEVERAGED and not just retail investors but even a Head of Research at a very large Crypto Research firm that lost 100% of his crypto by being ALL-IN on one asset/blockchain.
This is why we promote having a diversified portfolio, hold your assets on cold storage and DON’T INVEST MORE THAN YOU’RE WILLING TO LOSE.
As I’ve said, I’ve never seen anything like it and today for the first time I personally even felt like rotating out of some of my altcoin positions that are down 90% from their local highs in November.
BUT it’s at this very point like every other 50%+ drawdown in crypto’s history that you need to step back and understand that this is all part of the cycle.
Flushing out the weak hands is where generational wealth can be made. This is truly where you can make life-changing money.
But be patient, we’ll most likely see Bitcoin and Altcoins be very volatile over the coming weeks & months. There’s no rush to try pick the bottom.
Spread your investments out and lower your risk, diversify your portfolio.
Remember just because something is down 90%, doesn’t mean it can’t go down another 90%.
Be patient and don’t freak out and sell everything at the bottom.
Bitcoin and crypto will return, like it has countless times before.