Crypto, "You've Got Red On You..." HODL The Line, Folks

Today is one of those "bloody" days in the Cryptocurrency market, where almost all of the major coins are down heavily, several in the 2-digit percentage points:

It's at times like these when it's important to remind people: DO NOT PANIC! With a market as volatile as decentralized (and in some cases, centralized) digital currency you have to expect big swings like this. And panic selling is one of the worst responses one can make. In fact, like the stock market, the old adage usually applies: "When it's high, sell... When it's low, buy" or "Buy low, sell high". Yes, it is sometimes disconcerting to look at your portfolio and seeing hundreds or thousands of dollars (or more) in loses in one day. However, it's important to remember: this is how markets work, intrinsically. Also, despite some recent gains we are really still within a Bear Market for crypto. Bitcoin ($BTC) rose back over $4,000 USD in recent days, but most analysts warn that the true bottom has not yet been reached, some estimating it to be anywhere between $1,500 - $2,000. That would mean a further drop of more than 50% from this point. I tend to agree. And that would be a good time to BUY, not panic sell. But we're not there yet.

In any case, remember that this is cyclical. So unless you are day-trading your Crypto (which would be insanely risky, imho) it's probably best to just relax, take a deep breathe, and "Hodl". The gains will return at some point. Play the long game (and remember, anyone who held just a few dollars of BTC back in 2011 could have sold off as multi-millionaires just 6 years later). So ignore these daily reds (or even the greens) and let the market do its thing without emotional trading gumming up the works. Walk the dog. Play a video game. Occupy your time (and mind) however you need... and hodl the line. :-)

Best to you and yours,

~RoninGaijin

(By the way, you're awesome if you got my "Shaun of The Dead" reference in the title to this post :-P )