As all you crypto investors will most likely have already seen, the cryptoverse is currently drowning in a red sea that even the biblical legend Moses would have trouble parting. Many of the newer investors, who are possessors of weak hands, will be heading to their nearest exchange and trying to flog off whatever they own, in an attempt to cut their losses, while more seasoned Cryptonians will be lapping up all the January sales discounts.
Seeing as the more seasoned Cryptonians will not need reminding of the yearly January dip I wanted to make a post aimed at the influx of newbies that have bought into this newly budding industry throughout last year.
Now all of you will have bought into the ever expanding cryptoverse for a reason, and that reason will most likely be one or a combination of the following: a friend told you to do so; you saw the news of Bitcoin going from $800 to $20,000; or you saw a company release technology you really believe in. Whatever your reason my be, my point is you had a reason.
In times of doubt it is extremely easy to just throw in the towel and limit the amount of money you ‘lose’ but I would like to remind everyone who is calling this a ‘crash’, and to send a message to those who are spreading FUD (Fear Uncertainty or Doubt), this is not the first time this has happened and it wont be the last. Further to that, you can only lose money when you actually hit the button and sell your stocks. Until you actually sell them you have not lost a penny.
For the past three years December/January has always been a tricky period for the cryptoverse which leads to a massive decimation of the Coinmarketcap charts and, while there are many reasons banded about, the fact is that it simply is what it is. Here are some comparison charts of the festive period for Bitcoin over the past three years.
Do you see a trend there? Because I do, as do many other who are heavily invested in this industry.
As I previously touched upon, there are many reasons being banded about as to why the dip seems to happen at this time of the year (Lunar/Chinese new year, Chinese tax year, people trying to recoup their festive spending, people over spending at Christmas etc etc.) but the important thing is this: the market has always recovered and returned stronger.
The other thing I would like to remind all the newly invested of is this: you invested in whichever technology you invested in for a reason – you believe in it. Bearing that in mind you must ask yourself, do you still believe in your investment? Do you suddenly feel that your investment is worthless? Are you of the opinion that your investment will not recover from this blip?
Of you course you still believe in it, why wouldn’t you? Because the price of bread went up? No that is silly and us Cryptonians aren’t silly, we’re ahead of the curve and embracing the latest technology (blockchain) at ground zero.
So, if you’re having doubts I have some advice for you: stop checking Coinmarketcap.com, don’t panic sell, and keep your cool. Whatever it is you’re invested in, be-it Ethereum, Deep Onion, Bitcoin, Neo, Litecoin or whatever else, you’re invested in it for a reason. Remember that reason and return in a month.