Hey everyone, welcome to my blog!
I wanted somewhere to keep my thoughts about cryptocurrencies and decided I may as well make it public as someone may find it helpful. I am not a professional and you should not treat anything I write on here as investment advise. This is a hobby of mine and you should do your own research before investing into anything.
Back in September 2017 is when I first started investing into crypto when Bitcoin was around $5000 USD! About a week after I bought all I could afford...China announced they were banning ICO's (Initial Coin Offerings).
The market dropped dramatically, I had lost about 40% of what I invested, and I wondered if the boom had finally collapsed.
It would have been too easy to cash out and forget about crypto and hope I never hear about Bitcoin again.
Instead, I remembered that I didn't invest into crypto because I was after a quick buck. I invested because I believe in the fundamentals, technology and use cases that it can achieve.
Thankfully, many others did as well and the market recovered.
In-fact, the market went ballistic. Bitcoin flew up to around $20,000 USD in December of 2017.
I bring this up because so far this year has been a blood bath for crypto.
Bitcoin (that influences all crypto's) has steadily been dropping in value and got to below $11,000 USD.
Lot's of people would have lost money (including myself) and there is a cloud of negativity cloaking the market.
You can see this in the market cap that was once at over 830 billion USD to now a measly 550 billion USD.
Funnily enough, that decrease accurately depicts the amount of value I lost since the the December all-time-high (ATH).
Honestly, I have been very stressed since December because I wasn't sure where the bottom was - how much more money am I going to lose??
By doing research I found out why the market plummeted and could reasonably predict where the bottom would be.
I didn't cash out.
In hindsight, obviously I would have cashed out at the ATH and bought back in now. The thing is that I'm not a professional and most professionals can't do that.
At the moment, this is a great opportunity to buy crypto as I believe we have reached the new bottom.
So with this blog I hope to share my thoughts and help spread the amazing technology and opportunities that this industry can achieve.
So stay tuned :)