Another day of major pain for crypto assets across the board. As painful as this may be I must remind my readers that this is healthy market action for a brand new transformational technology and investment asset class. Nothing goes straight up forever. Not even the manipulated equity market which has done nothing but that for the past 14 consecutive months. However, even that facade has begun to crack. It appears that crypto was a early indicator of the pending equity crash. I expect more pain in equities today across the board. At some point crypto should become a safe haven asset to overvalued, overheated equities and a massive rise will begin anew.
But back to Bitcoin and blockchain/crypto. I know that there are many us old timers who were getting sick of seeing some recent conferences look more like pseudo rick quick gatherings. The flood of “get rich with crypto” videos on youtube from crypto “geniuses” seemed endless. The massive rise in crypto across the board in 2017 exceeded even the most ardent bull expectations. An proportionally large decline to purge the excess must always be expected. The key is understanding this is normal, to be expected and is temporary. We will recover and it won’t take long when it begins.
From a fundamental perspective the future for Bitcoin and blockchain have never looked brighter. We have Segwit and Lightning on the Bitcoin main net with smart contracts coming later this year. We have ever growing innovation and adoption of Ethereum and Litecoin to solve multiple business problems with unique value add propositions. We have a flourishing blockchain landscape globally in both the public and private sector. In short, the Bitcoin/Blockchain revolution is alive and well.
My advise is to look at the facts, ignore the FUD, listen to your intuition (not emotion), and adjust accordingly to fit your situation and goals. For some this means buy, for others this may mean sell, and for others it could mean a change in career. This is not one size fits all. The fact remains that the blockchain revolution is hear to stay. Early adopters, early innovators, and early HODLers will be well rewarded over the coming months and years.
Recognize the revolution and find how it fits for you and your family. The future is in your/our hands… the past will prove the future…
Good luck and God bless. D