I've been in crypto for a while... I experienced huge crashes, even bigger bull run,a lot pf short term bear and bull market and here is what I have to say to all of those who are panicking ansd thinking pf selling at loss.
First of all this all makes sense if you invested money you can afford to lose!
So here we go.
Many people(experts) compare crypto bubble and dot.com bubble and I partially agree. There are a lot of scam coins and projects that will eventually cause crash so money can pour into real life changing projects.
Crypto and blockchain are so revolutional, maybe even bigger discovery than Internet. It could/will radically change the world we live in. When stocks/shares came to the market a lot of people said it is a scam just like they say now about crypto, but that's normal and in human nature cause we are afraid of things we don't understand. When dot.com bubble bursted noone could expected that one of companies which was part of bubble would today be the biggest company in the world and it's owner richest man on earth (Amazon/Bezos). I am quite sure we would be talking the same way about some crypto(s).
But we have to be realistic. 99% of crypto at the moment are good wishes and long future. (except for ripple which is closest to real life use but not really a crypto). Even Bitcoin is used only as something that could be sold at higher prices to FIAT. All this prices are pure speculation at nothing else. Untill real use we can't realistically determine price of coin.
We are few years away from real adoption and these price fluctuations are nothing compared to bigger picture.
But we need bigger players in this area, we need regulations, we need for people to see that crypto isn't ONLY replacement for fiat, that there are much more behind it.
Most of all we need to calm down these mass hysteria and remove headlines "if you bought BTC in 2010 you would be millionaire. Because of it many people jumped into this expecting to become rich in 2 months and retire. If you are hoping that crypto would make you that rich so you don't have to work anymore please do your self a favour and sell everything you have because chances of that happening are 0,5%.
Choose projects you invest in carefully and don't panic when it dips and don't celebrate when it rises. Untill we see real life use and adoption we haven't achieved anything. Once your project becomes used in everyday life then celebrate and be proud of yourself. Don't listen to Warren Buffet nor Mcafee. Buffet said Amazon is bubble and look it now. The other one lost his mind.
These is not financial advice but friendly advice : KEEP BIGGER PICTURE IN MIND AND DON'T SELL AT LOSS!
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