The other day, cryptocurrencies experienced a significant collapse, bitcoin fell below $35 000 , and the market capitalization has decreased by almost %.
We had a stream with Sergey from ICO Drops to talk about what is happening now is happening and how to get through this phase of the market as efficiently as possible.
For those who do not have time to watch the entire stream, we have prepared a text extract.
Let’s talk about those who entered the market a month ago by accident and now do not understand what to do.
If you didn’t enter for the whole amount, then it’s better to see what to bribe, if for the whole amount, then “selling on a panic” is not the best idea on such falls. The market in general is a very interesting thing, you don’t know where the price will go, you can’t control it, it’s easy to lose against this background. Therefore, I realized that at such a time you need to have your “little victories” that you can control: start reading, sit down, take a walk in the morning. The downtrend will not suck you in so much, and the victories will increase your spirit and the fall will not affect your life much.
Why did the fall happen? Give me a couple of reasons, please.
Nasdaq and other startups started to decline. We can’t walk in correlation with the main startups, a large market pulls the rest. You can see this on the Russian market as well. It is possible that future garbage dumps put their hand in order to “pick up their own”.
What is better to do now?
There is a unique opportunity in crypto that is not available in the stock market. You cannot become an afk system ambassador or raise a node for Raspadskaya. Participation in such events makes it possible to get on the boat to those who entered the market at a good price. Also, your favorite word should be “scaling”, if you see that your actions bring something useful into your life – scale. Try to remember what you wanted to do before the downtrend, write it down and do it when it ends. Among other things, do not forget to have stables, especially for those who have an impressive deposit.
Do you have any thoughts about banning cryptocurrencies from the Central Bank of the Russian Federation?
A very funny fact is the timing of the Central Bank for its statements. The last was when bitcoin was near ATH, and again, now, after the announcement, it fell. It’s most likely just noise. It is impossible to prohibit the storage and use of cryptocurrency, it was created so that it could not be banned. By banning crypto, they only push people into the market.
Any thoughts about the development of the situation? Where to look?
Large institutional purchases are a good signal, but not one hundred percent. It won’t hurt to follow them. Now very large investments are being made in blockchain projects and NFTs. It is also worth taking a closer look at P2E, top funds have become very greedy in this direction.
It is important to balance, do not let chaos develop, try to keep order, but do not go overboard with him. Crypto is chaos. If you got into it, try to create order in your life.
In addition to this broadcast, we have a playlist of streams with Sergey, where everyone can find something useful for themselves.