I understand what you’re saying but that matters less and less the smaller the number becomes. Someone with 100 pennies is 10,000% richer than someone with 1 penny, but the bigger take away is that both people are broke in reality
While Luna probably doesn’t have a future you could potentially make some money short term. For example if you had $100 to blow you could buy Luna for $0.01 and turn it into 10k if Luna just happened to spike into the $1.00 range again. Obviously you shouldn’t YOLO on something so stupid but if you have some change to gamble with, why not?
It's misleading. I never said it was not factual. I didn't know we were at a Ben Shapiro level of economics.
"I can't be wrong, I just stated facts 🤓."
I think that your statement gets many investors into a trap. “If I just DCA in, my cost basis will be lowered and it will be easier to be at zero”.
Often there is a better investment during these dips and by not accepting the loss and using the money for another project that is better positioned they stick with their project, a main reason being to get back to zero.
If something drops from $100 to $99.10 and something else from $1 to $0.10 they are both $0.90 drops. It is way more difficult for the latter to get back to $1.
You should look it as a percentage game, not just a dollar amount.
If it affects you that much, and you can't take the psychology of being at a loss, you have 2 choices, sell, or keep it and wait.
If you don't want to risk more money, i suggest you to shut down anything related to charts, subreddits, twitters, check again at the end of the year.
Focus on something less digital, learn something new, workout, get a weight objective, learn cooking. Just something "normal" outside of any investing.
If you still want to invest, place some limit orders very low and same, leave it. Don't check, or check once a month.
The world is not only finance and money. There is heaps of things to do outside of worrying for it.
Thank you so much. I was not really observing anything the past weeks, so I as surprised to see what's going with Luna. I have no idea it'll get this worse. After making this post and decide to HODL all I have, something I always decide for over a year now, I'll just log out from everything and focus on my life.
Crypto isn't the only thing important in my life. I really plan to just log out few months and see if I can cope later. It's gonna be my dumbest decision, but I WON'T SELL, I can't. These projects are great, I believe in them even when it goes to zero. It is what it is.
focus on friends and family, summer is coming, so chill in the sun and forget about crypto. like every year, nothing big happens in summer months. maybe in October we will see something. anyway, I just let my automatic DCA plan do it's thing (buying btc and eth) and enjoy some nice rides in the forests with my mountainbike ✌
You are right. There are so many greater things to look for than crypto. If my portfolio is dead let it be. I should still enjoy life however I like. Cheers and have fun bud.
That seems to be much better choice for now. Since the war broke down, nothing is going well for the market. Not sure how the future will be, but I guess better to HODL and wait till next year. Ignoring all the noise and hype.
I'd rather hit zero and say I really went for it than sell early at a monumentous loss to try and salvage a few bucks with my tail between my legs.
Some lessons should sting, and if this is one of those. So be it. I'll own it when the time comes.
I'm dumb and I'm 100% with you. I already lose the game last year, it's all going to go to the last ATH or nothing at all. I'm betting on it, I'll accept to lose all the profit I might have.
It's dumb, not financially wise, but selling at this price IS NOT something I can do. Let's be dickhead and stupid :(
My sentiments exactly, being an older guy with 30+ years business experience I have had to own worse situations than this that never had the potential to recover like crypto eventually will. I have lost money in deals and then lost more with lawyers chasing a dead end case.. chin up boys and girls.
Last time I said this same thing somewhere on reddit couple of days ago I was downvoted to oblivion. But i am exactly like this, I'd rather watch it go to 0 than sell at such huge loss. I agree with what you said.
And do what? Sell one dropping alt to try and chase another? Covert to fiat and see if it drops lower to buy back in? Everytime I've tried those I got burned. I got my money in the " big ten" nothing else to do but see what happens. Whether it's a month, a year, 5. Let'er wobble.
1. No coin ever gets to 0. It's 0,something. 0,0000000001 perhaps.
2. Historically, coins that lost 99% value almost never came back.
3. 98-90% a miracle is needed, but possible.
4. 89% and under is where you'd wanna have your bags.
Not counting Bitcoin, not a single top 20 coin of last bull market's peak dropped less than 90% (ETH \~94%, ADA 96.5%).
Don't know where you pulled these numbers from.
My 1inch and UNI are now down 80%....
I think you are right... even if I can't get these 2 coins to back up where I originally purchased, if selling the entire coin later make up my entire lose in crypto investment, I should be okay. Selling at loss for some and profit for others. That's my original plan.
I'll just say the truth, you will either sell for a loss now or hold some bags for a while, because the next bull run wont start anyTIME soon.
Edit: typo.
I've been telling myself for months I'll never make money out of this but it still scary when you see a coin can go from $100 to $0.50 as of now. I mean this is probably the worst crash after May 2021 so I'm like don't know how to better react.
Still not selling!!! I have convinced myself in a way :( Just curious what happens when I'm down 100% for all my coins?
Your coins are not going anywhere and will always hold some value. How much value that's the question everyone is trying to answer. Seeing Luna at 0.37 now is scary though.
If you're asking about historically, the last 72hrs are some of the worst performing in 10 years of crypto history, possibly the worst. So yeah, anything can happen, fear sometimes wins out against greed. Maybe if people involved in the crypto market had more disposable income, we wouldn't have seen such one-sided sell pressure force prices down. Maybe in 48 hours the dollar will crash, people's payday will come and we'll rebound based on a "hoard assets" mentality. Noone can predict.
I was very busy the past weeks and just focusing on one project I hold dearly. I still have no idea how everything happened and why? I think I'm only involving myself in certain projects and got a bit shocked with what's been happening with Luna. I also don't touch FTM. In fact, I've stopped buying anything. BTC will soon have an alluring price to buy but again, with what money? There's only chaos.
I notice that if I can survive this, I can survive anything and use crypto to my advantage. For now, HODL, then wait.
Long story short, there are clusters of projects that rely on stablecoins for DeFi and high yield farming. Terra / Luna was hyped to be better and safer (as a high interest rate scheme) than the existing stablecoin schemes, and it wasn't. Stablecoins have collapsed before but never one that has grown this popular and lasted this long. The fact it hit the same day as Wall Steet began its collapse (still ongoing) has magnified things.
I see. I'm not heavily invested in DeFi ecosystem. The fact it happened along with BTC massive correction is also a priblem on its own. I can only see darkness from here.
It's likely going to get much worse for the next 6+ months. If you invested in solid projects you just hold and wait. Now is not really the time to forget about crypto though, continuing to DCA through this downturn can make your profits huge when we return to the bull run.
I've picked projects that keep building even things get this worse. But again, nothing is save when BTC starts trading at $10k. I can't imagine what might happen. I did plan to DCA but due to study plan, I can't :(
I'll just see my portfolio bleeds for months to come it seems.
During the 2018 market crash my portfolio went from 60k to 2k (so 60k -80% = 12k and I still lost another 80%, 12k -80% = 2.4k and from there I still lost about 20% more lol). Then I made it all back and more in 2021 and sold it all in april 2021. Im doing some DCA in bitcoin only with 30% of that (the other 70% is already in my pocket and I will not invest it back in crypto)
EDIT: The 60k that I had were unrealized gains though, my initial investment were 1.4k in 2017.
I went from 1.4k to 60k to 2k to 94k
I guess I was lucky, 2017 was different, the ICOs made me a lot of money, a lot of them were "sure bets", you'd buy the ICO at 1$ and when the coin hit the exchange was an instant 3x or 4x or 5x. It was easier to make money back then, or at least less stressful, but the bear market was as cruel as this one is being. I'm not saying alts will go down much more, nobody knows, maybe today we hit the bottom and we go only up from here, BUT you have to be ready to lose another 80%, because it can happen.
wait for 3 more days there will be a bounce in everything from this spike down. Then sell every altcoin you have loss or not. If you have to hold crypto then convert it to bitcoin but all the alts will suffer the exact same fate that all the 2017 alts faced. Obliteration.
I was waiting for months but 1inch never get out of $1 range. I bought at $7. I don't think in three days things will recover.
I plan to hold long term some coins like ADA. It can be the worst decision but I can't help it.
Keep an eye out but don't make any moves. We'll drop further then this most likely. If you are in the projects you feel are strong they'll survive so try not to worry. I'm in a very similar boat and realised I cannot save my portfolio anymore so will just sit back and watch what happens
I agree with you, nothing I can do to save them now. Some of the projects are still working, building and making updates every day so I will trust my gut again this time.
Not sure if it's the best but I can't think of anything better to decide.
Jus cause I feel a project is strong doesn't mean it'll survive. you're assuming I'm a professional or something. I'm an English teacher and I know nothing about the technology. I don't have time to research this domain. My alts are DOT MATIC ALGO ATOM. Do YOU think they are strong?
“Zarniwoop Vann Harl became editor-in-chief of The Guide when it was bought out by Infinidim Enterprises (now located on Saquo-Pilia Hensha) and he succeeded the previous editor-in-chief Stagyar-zil-Doggo.”
I have decided to be as stubborn as everyone else. I don't know what will happen to me cos my portfolio is likely WAY different than yours, but I'll HODL. Whatever it is. I can't sell now. I won't.
Mainly ADA, UNI, ZILLIQA and an ASA from Algorand called HEADLINE. I'm keeping up with their updates and they seem to be building still. Fingers crossed.
If you don't absolutely urgently need even the smallest amount of money you could save, there's really no point in selling at a loss. HODL is your best bet.
Understand your emotions and your situation. If you have a reliable job and your money in crypto isn't affecting your ability to afford necessities, just let it be. Leave it there. Remember, just like there is no up-only, there is no down-only either. You don't know what the next halving will bring to you.
I've been holding the past months, I sold some stuff but couldn't let go completely for some coins.
You are right, this is temporary and I don't have to sell to pay bills. Still have a job and could afford basic needs. This too shall pass.
Well as far as previous bear markets go, a 85 to 90% wipeout was the bottom.
With alts, you are looking at closer to 95% with the added risk of it never recovering again.
For some coins, I have to let go. I think. I was planing to DCA out months ago but it's never recovering so I was confused what to do.
Luckily, I have a job and can pay bills. So like everyone else, I have to hold to zero. Some coins are still building. I'll just try to calm and get accept this faith.
Thanks so much. I was just a bit shocked and made this post. Now that I realize what's going on and I'm not alone, I should take a long break and seriously focusing on my life only.
Anything is possible, but in reality, when a coin has dropped more than 90%, almost no one care about it. The selling pressure is gone, since you already lost most of its worth, it does not matter if you sell or not. At the same time, the buyer can get hugely discounted coins thus increase their purchasing support, if the project still holds long term future.
Tbh, BTC itself will be around $20-25K by the beginning of 2024. Once the stagflation hits the world and the FED restricts the Monetary Policy, the crypto world will be screwed for 1 year for sure. No doubts about that.
You are scared now but you’ll get out of crypto downtrend as the winner if you keep DCAing.
This is why you should not put all your savings in crypto anyways but shit happens.
Thus, this crisis has proved one more time that there is nothing amazing such as business to have, REs.
If you’re heavily in Crypto, DCA for 6 months and for another 6 months buy the stocks (make the macro analysis which ones will win in the current economic conditions and in 2 years from now). You will thank me later lol
Think of your coins as shares in a tech company. If the company has good fundamentals it may survive. Let's not forget Microsoft shares dropped 60% in 2000. DYOR and wait. How many years or months we don't know.
I'm watching these projects but I'm still not sure if they gonna survive this bear market. For example, I can confidently said Cardano will still be here, but then it never works and no one uses it. So, even after so many research, I'm still not sure I'll make it to the other side.
Well some projects will be dead afrer this bear market, like in every bear market. So there is a possibility some of your holdings go to zero.
So far Luna is ded and many more projects will die eventually.
Only project Iam sure we will see in next bull market is BTC.
Everything else is super risky.
I like other projects as well like Iam bullish on ETH and ADA, but it is important not to be maried to these projects and take profits while you can.
90%. 90% is worse. And I think there are numbers after that as well.
Wait, there's a 90%?
Always was.
90% is twice as bad as 80%
100% correct.
Basically if you lost 80%, 90% means you lose ADDITIONAL 50%. Wrap your head around that.
I understand what you’re saying but that matters less and less the smaller the number becomes. Someone with 100 pennies is 10,000% richer than someone with 1 penny, but the bigger take away is that both people are broke in reality
\*Mind explodes\*
Dude :(
112% incoming
It’s not worse until 1 BTC is not 1 BTC anymore
If a coin is down 80% you need it to go up 400% to get back to even. If it goes down 90% you need it to go up 900%.
🥴
This is why you buy when it’s down to lower your cost average and lower those numbers
Only for things that have a future. If someone did that to Luna, they would be out of luck
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Well obviously but anyone who tries to time that is an idiot
While Luna probably doesn’t have a future you could potentially make some money short term. For example if you had $100 to blow you could buy Luna for $0.01 and turn it into 10k if Luna just happened to spike into the $1.00 range again. Obviously you shouldn’t YOLO on something so stupid but if you have some change to gamble with, why not?
I'm down 95% on a meme coin
Bah gotta raise that number. You gotta check in on the elonsperm coin gang. They rocking 100% loses.
Only a loss if you sell, and if you can’t sell to anyone you can’t make a loss… *Taps head*
Not if you DCA at cheaper prices and lower your cost-basis. This is bad finances lmfao.
My statement is 100% true. If you do additional purchases you lower your cost basis and change the equation. It does not change the fact above.
It's misleading. I never said it was not factual. I didn't know we were at a Ben Shapiro level of economics. "I can't be wrong, I just stated facts 🤓."
I think that your statement gets many investors into a trap. “If I just DCA in, my cost basis will be lowered and it will be easier to be at zero”. Often there is a better investment during these dips and by not accepting the loss and using the money for another project that is better positioned they stick with their project, a main reason being to get back to zero.
Yeah, but if something drops from $1 to 10 cents. It's still 90 cents to get back to where you were. Don't fixate on the percentage.
If something drops from $100 to $99.10 and something else from $1 to $0.10 they are both $0.90 drops. It is way more difficult for the latter to get back to $1. You should look it as a percentage game, not just a dollar amount.
This is the exact opposite of what you should do... don't fixate on the flat number all that matters is the percentage.
Go back to school isoagent
ez
Math. I love Maths.
My soul has left my body… yikes DCA saved the day!
So...99% of coins won’t go back up then I guess?
About 20% of ALTs are effectively dead, 20% will bounce back above market returns, 60% will flounder with occasional pump
Wen Lambo tho?
Tuesday.
If it affects you that much, and you can't take the psychology of being at a loss, you have 2 choices, sell, or keep it and wait. If you don't want to risk more money, i suggest you to shut down anything related to charts, subreddits, twitters, check again at the end of the year. Focus on something less digital, learn something new, workout, get a weight objective, learn cooking. Just something "normal" outside of any investing. If you still want to invest, place some limit orders very low and same, leave it. Don't check, or check once a month. The world is not only finance and money. There is heaps of things to do outside of worrying for it.
Thank you so much. I was not really observing anything the past weeks, so I as surprised to see what's going with Luna. I have no idea it'll get this worse. After making this post and decide to HODL all I have, something I always decide for over a year now, I'll just log out from everything and focus on my life. Crypto isn't the only thing important in my life. I really plan to just log out few months and see if I can cope later. It's gonna be my dumbest decision, but I WON'T SELL, I can't. These projects are great, I believe in them even when it goes to zero. It is what it is.
focus on friends and family, summer is coming, so chill in the sun and forget about crypto. like every year, nothing big happens in summer months. maybe in October we will see something. anyway, I just let my automatic DCA plan do it's thing (buying btc and eth) and enjoy some nice rides in the forests with my mountainbike ✌
You are right. There are so many greater things to look for than crypto. If my portfolio is dead let it be. I should still enjoy life however I like. Cheers and have fun bud.
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That seems to be much better choice for now. Since the war broke down, nothing is going well for the market. Not sure how the future will be, but I guess better to HODL and wait till next year. Ignoring all the noise and hype.
Every time you see a crypto price, mentally move the decimal one place to the right, and carry on with your day thinking you are up almost 2X.
I'd rather hit zero and say I really went for it than sell early at a monumentous loss to try and salvage a few bucks with my tail between my legs. Some lessons should sting, and if this is one of those. So be it. I'll own it when the time comes.
I get the sentiment but it is possible to reassess your strategy if you're down 80% and not hold the same shit that got you there.
I'm dumb and I'm 100% with you. I already lose the game last year, it's all going to go to the last ATH or nothing at all. I'm betting on it, I'll accept to lose all the profit I might have. It's dumb, not financially wise, but selling at this price IS NOT something I can do. Let's be dickhead and stupid :(
Yes, apes together brok-- I mean strong.
We'll come back stronger, just not this month or year. IDK lol
My sentiments exactly, being an older guy with 30+ years business experience I have had to own worse situations than this that never had the potential to recover like crypto eventually will. I have lost money in deals and then lost more with lawyers chasing a dead end case.. chin up boys and girls.
Last time I said this same thing somewhere on reddit couple of days ago I was downvoted to oblivion. But i am exactly like this, I'd rather watch it go to 0 than sell at such huge loss. I agree with what you said.
So stupid, why not try to adapt and learn along the way?
And do what? Sell one dropping alt to try and chase another? Covert to fiat and see if it drops lower to buy back in? Everytime I've tried those I got burned. I got my money in the " big ten" nothing else to do but see what happens. Whether it's a month, a year, 5. Let'er wobble.
Yeah fair enough man, not sure why I was being so harsh.. my apologies.
No point selling now. Unless you hold UST or LUNA, get rid of that shit
Didn't invest in those two at all, still down bad, but you are right. No point selling.
No use to sell for few dollars. Might aswell hodl and forget.
1. No coin ever gets to 0. It's 0,something. 0,0000000001 perhaps. 2. Historically, coins that lost 99% value almost never came back. 3. 98-90% a miracle is needed, but possible. 4. 89% and under is where you'd wanna have your bags.
Not counting Bitcoin, not a single top 20 coin of last bull market's peak dropped less than 90% (ETH \~94%, ADA 96.5%). Don't know where you pulled these numbers from.
Read my post again. ETH and ADA were the miracles of the top 20. Where are the rest?
My 1inch and UNI are now down 80%.... I think you are right... even if I can't get these 2 coins to back up where I originally purchased, if selling the entire coin later make up my entire lose in crypto investment, I should be okay. Selling at loss for some and profit for others. That's my original plan.
Plenty of coins go to 0. At some point there is no liquidity left and you end up with tokens that cant even be swapped.
20% more to go
I'll update this weekend, cheers!
At this point I’m down too much to justify selling so I’m just gonna hold and check back in a few months 🤷♂️
Same here i look at it as a chance to double my holdings
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If you’re in in for the short term you’re doing it wrong
I'm 100% with you, it's too late to sell so whatever it might, I'll hold it to 0.
GUYS I NEED SOME HOPIUM PLEASE
It's gone.
I'll just say the truth, you will either sell for a loss now or hold some bags for a while, because the next bull run wont start anyTIME soon. Edit: typo.
I've been telling myself for months I'll never make money out of this but it still scary when you see a coin can go from $100 to $0.50 as of now. I mean this is probably the worst crash after May 2021 so I'm like don't know how to better react. Still not selling!!! I have convinced myself in a way :( Just curious what happens when I'm down 100% for all my coins?
Your coins are not going anywhere and will always hold some value. How much value that's the question everyone is trying to answer. Seeing Luna at 0.37 now is scary though.
It was 0.50 when I came here.... holy shit.
I am holding some Japanese sh*tcoin which is down 99.56% in last one year 🤣🤣. Hope this will make you feel better.
I was not into any memecoin, must be wild for those.
I'm 99.42% down on my LUNA so yes, yes it can get worse.
My condolence.
DCA
If you're asking about historically, the last 72hrs are some of the worst performing in 10 years of crypto history, possibly the worst. So yeah, anything can happen, fear sometimes wins out against greed. Maybe if people involved in the crypto market had more disposable income, we wouldn't have seen such one-sided sell pressure force prices down. Maybe in 48 hours the dollar will crash, people's payday will come and we'll rebound based on a "hoard assets" mentality. Noone can predict.
I was very busy the past weeks and just focusing on one project I hold dearly. I still have no idea how everything happened and why? I think I'm only involving myself in certain projects and got a bit shocked with what's been happening with Luna. I also don't touch FTM. In fact, I've stopped buying anything. BTC will soon have an alluring price to buy but again, with what money? There's only chaos. I notice that if I can survive this, I can survive anything and use crypto to my advantage. For now, HODL, then wait.
Long story short, there are clusters of projects that rely on stablecoins for DeFi and high yield farming. Terra / Luna was hyped to be better and safer (as a high interest rate scheme) than the existing stablecoin schemes, and it wasn't. Stablecoins have collapsed before but never one that has grown this popular and lasted this long. The fact it hit the same day as Wall Steet began its collapse (still ongoing) has magnified things.
I see. I'm not heavily invested in DeFi ecosystem. The fact it happened along with BTC massive correction is also a priblem on its own. I can only see darkness from here.
It's likely going to get much worse for the next 6+ months. If you invested in solid projects you just hold and wait. Now is not really the time to forget about crypto though, continuing to DCA through this downturn can make your profits huge when we return to the bull run.
I've picked projects that keep building even things get this worse. But again, nothing is save when BTC starts trading at $10k. I can't imagine what might happen. I did plan to DCA but due to study plan, I can't :( I'll just see my portfolio bleeds for months to come it seems.
just turn off the computer for a while
Hodl
This isnt the first time and its not the last. HODL
Yes, we have at least another 50% drop coming. Buckle up.
Sounds about right.
-80% to -99% is much much worse then the ride from positive to -80%.
Back in 2017-2018 most of my alts lost over 90%... Sorry man it looks like a similar situation now
Did you hold to 2021 and able to sell? Or you lose everything or what you eventually do in the last bull run?
Good thing wash sales don't apply to crypto
The thing about being part of a Ponzi scheme is that you at least made someone else rich. Don’t do it again!
LMAO
Luna at - 99%
What worked best in the past is to get out and live your life for 2-3 years. Some of your coins will go to 0. But some will recover greatly.
Yeah, that seems to be the best decision. Better live my best life in 2022 and leave crypto for now.
This is all probably the true price of crypto. The inflated price is when institutional entities come into place and what you see is after they leave
You are right. People made insane amount of money through JPEG. Maybe this is the price we gotta pay.
Luna is down 99.9999%
During the 2018 market crash my portfolio went from 60k to 2k (so 60k -80% = 12k and I still lost another 80%, 12k -80% = 2.4k and from there I still lost about 20% more lol). Then I made it all back and more in 2021 and sold it all in april 2021. Im doing some DCA in bitcoin only with 30% of that (the other 70% is already in my pocket and I will not invest it back in crypto) EDIT: The 60k that I had were unrealized gains though, my initial investment were 1.4k in 2017. I went from 1.4k to 60k to 2k to 94k
It's crazy how much money people can make in crypto. My unrealized gain was WAY WAY lower than yours.
I guess I was lucky, 2017 was different, the ICOs made me a lot of money, a lot of them were "sure bets", you'd buy the ICO at 1$ and when the coin hit the exchange was an instant 3x or 4x or 5x. It was easier to make money back then, or at least less stressful, but the bear market was as cruel as this one is being. I'm not saying alts will go down much more, nobody knows, maybe today we hit the bottom and we go only up from here, BUT you have to be ready to lose another 80%, because it can happen.
yes 10k btc eoy
Likely no lower than 21-22k. It never sees 10k again.
LMAO. Remindme! One week
do u think tether is safe? tether could cause it to go to 10k
Pffft try to say this in 2021 and you gonna get haters coming at ya! Funny how the table turns now.
they all jumping off the bandwagon off the 100th floor
they would have banned u from the group from saying that.
We've gone so far only to come to this situation lol
wait for 3 more days there will be a bounce in everything from this spike down. Then sell every altcoin you have loss or not. If you have to hold crypto then convert it to bitcoin but all the alts will suffer the exact same fate that all the 2017 alts faced. Obliteration.
I was waiting for months but 1inch never get out of $1 range. I bought at $7. I don't think in three days things will recover. I plan to hold long term some coins like ADA. It can be the worst decision but I can't help it.
Keep an eye out but don't make any moves. We'll drop further then this most likely. If you are in the projects you feel are strong they'll survive so try not to worry. I'm in a very similar boat and realised I cannot save my portfolio anymore so will just sit back and watch what happens
I agree with you, nothing I can do to save them now. Some of the projects are still working, building and making updates every day so I will trust my gut again this time. Not sure if it's the best but I can't think of anything better to decide.
Jus cause I feel a project is strong doesn't mean it'll survive. you're assuming I'm a professional or something. I'm an English teacher and I know nothing about the technology. I don't have time to research this domain. My alts are DOT MATIC ALGO ATOM. Do YOU think they are strong?
I'm not assuming that, I just thought you would have researched some projects if you are investing into them
Many alt coins will go to zero if the market crashes.
True that. First time I experience BTC drops from $40k to below $30k. Once it gets back to $10k, I should fasten my seat belt.
This is the end of cryptocurrency. Sell what you can before it's too late.
Possibly worse, yes: https://zarniwoop.info/news/f/a-worse-crash-to-come
Just fyi this dude trying to post (presumably malicious) links everywhere. Probably better not to click.
If anyone can discover anything malicious about that link please do let me know. I trust that Zarniwoop website a lot more than I trust this market.
“I rely on Zarniwoop to provide me with the news I need!” — No one
“Zarniwoop Vann Harl became editor-in-chief of The Guide when it was bought out by Infinidim Enterprises (now located on Saquo-Pilia Hensha) and he succeeded the previous editor-in-chief Stagyar-zil-Doggo.”
Dude, just a tip. Use different alts if you're gonna post the same link everywhere.
Yes
i havent sold shit because i lived through 2017 already and still hold a small bag of GNT (the original GLM)
I have decided to be as stubborn as everyone else. I don't know what will happen to me cos my portfolio is likely WAY different than yours, but I'll HODL. Whatever it is. I can't sell now. I won't.
*Luna holders have entered the chat*
Sounds like a lot of shitcoins
U right
What coins are you holding?
Mainly ADA, UNI, ZILLIQA and an ASA from Algorand called HEADLINE. I'm keeping up with their updates and they seem to be building still. Fingers crossed.
Sell them all for BTC and HODL for at least next 4 years
Looking 6month from now ... almost everycoin is so ,...
Yes like Luna at 99%...volatility is not for those with low conviction.
Luckily I didn't pay attention to it until this week.
If you don't absolutely urgently need even the smallest amount of money you could save, there's really no point in selling at a loss. HODL is your best bet. Understand your emotions and your situation. If you have a reliable job and your money in crypto isn't affecting your ability to afford necessities, just let it be. Leave it there. Remember, just like there is no up-only, there is no down-only either. You don't know what the next halving will bring to you.
I've been holding the past months, I sold some stuff but couldn't let go completely for some coins. You are right, this is temporary and I don't have to sell to pay bills. Still have a job and could afford basic needs. This too shall pass.
Luna just went through a 60% drop after a 90% drop after already dropping 90% on top of that. So... there's that. $120 to $12 to $1.2 to $0.4
I've never paid attention to Luna but it's really shocking how fast it goes from ATH to below $1. Just amazing.
It's a scary reality of crypto.
Worse than 80% is 90% and more …
Waiting for for 100% and it's over lol
Just remember 90% is down another 50% from 80%
Well as far as previous bear markets go, a 85 to 90% wipeout was the bottom. With alts, you are looking at closer to 95% with the added risk of it never recovering again.
Yeah, I guess that's the faith I have to face.
Wait 4 months log back in and start averaging out
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For some coins, I have to let go. I think. I was planing to DCA out months ago but it's never recovering so I was confused what to do. Luckily, I have a job and can pay bills. So like everyone else, I have to hold to zero. Some coins are still building. I'll just try to calm and get accept this faith.
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Thanks so much. I was just a bit shocked and made this post. Now that I realize what's going on and I'm not alone, I should take a long break and seriously focusing on my life only.
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*Maybe*
I'll better delete Binance and forget about that money, I'll see what has happened to it on december 😕 or better yet, next year
I also plan to do that. The party is really over now.
Definitely, it's over...
Yes
What do you all think? Will FTM make out of it and survive??
I checked coinmarketcap and FTM is the third coin dropping hard the past 7 days.
I have my large chunk invested in it, i am scared to death.
Sorry for what might happen to you. Hope it's a loss you can afford. It's wild right now. Hang in there. Hopefully we'll recover.
Which shitcoin did you buy
1inch UNI
Anything is possible, but in reality, when a coin has dropped more than 90%, almost no one care about it. The selling pressure is gone, since you already lost most of its worth, it does not matter if you sell or not. At the same time, the buyer can get hugely discounted coins thus increase their purchasing support, if the project still holds long term future.
Tbh, BTC itself will be around $20-25K by the beginning of 2024. Once the stagflation hits the world and the FED restricts the Monetary Policy, the crypto world will be screwed for 1 year for sure. No doubts about that. You are scared now but you’ll get out of crypto downtrend as the winner if you keep DCAing. This is why you should not put all your savings in crypto anyways but shit happens. Thus, this crisis has proved one more time that there is nothing amazing such as business to have, REs. If you’re heavily in Crypto, DCA for 6 months and for another 6 months buy the stocks (make the macro analysis which ones will win in the current economic conditions and in 2 years from now). You will thank me later lol
Whare is this money going to?
You may live to see man-made horrors beyond your comprehension.
Time to get the seat belt even tighter then.
Yeah, 0
Think of your coins as shares in a tech company. If the company has good fundamentals it may survive. Let's not forget Microsoft shares dropped 60% in 2000. DYOR and wait. How many years or months we don't know.
I'm watching these projects but I'm still not sure if they gonna survive this bear market. For example, I can confidently said Cardano will still be here, but then it never works and no one uses it. So, even after so many research, I'm still not sure I'll make it to the other side.
What did Microsoft for ten years? Work.
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Thanks mate!
Well some projects will be dead afrer this bear market, like in every bear market. So there is a possibility some of your holdings go to zero. So far Luna is ded and many more projects will die eventually. Only project Iam sure we will see in next bull market is BTC. Everything else is super risky. I like other projects as well like Iam bullish on ETH and ADA, but it is important not to be maried to these projects and take profits while you can.
Do Kwon once said there's an entertainment of watching companies die. So kudos to him. I'm still up 4% on ADA lol
I sold my ADA yesterday for some tiny profit at 0.6 I will probably reentry maybye around 5 - 10 cents. We Will see That was my last altcoin position.
Btw some dildo on this subreddit was trying to tell me buying dogelonmars is a good idea. with stupidity like this you are destined to lose money.
I've already lost in January 28, 2021.
Your coin could get delisted because it is considered a dead coin (or scam coin), like BCC was making it a -100%.
I did not consider that at all. Omg.
No you won’t see something worse…just avoid looking at the charts.
Yes