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RE: IN THE NEWS - Facebook Bans Crypto Ads
January has been pretty hard for the crypto market as a whole. But downturns like this are part of what people should expect with this market.
Facebook is growing more and more controlling over what people are allowed to see on their platform. This censorship is a slippery slope and over time will only get more drastic.
Thanks for the comments @thedarkhorse, much appreciated.
I expect the longer trend over the year will again turn upwards. Bitcoin is still way up from where it was last summer. For those who got in late to the party for Bitcoin or Ripple though I expect there may be some long faces until this market finally finds the bottom floor for this go round and finally starts climbing back up.
A lot of the sales hype was promoted over Facebook and YouTube. One down and . . . ???
True. For the ones that got into crypto late last year this is really bad. Howerer, the upward trend will come sooner or later. HODL.
yes there are a lot of people finally got onboard last fall only to see their investments drop drastically in value. And for some their money is locked in to a plan where they can't get it out yet even if they wanted which may be a good thing - as the value should be on the climb again over the next few months.
The ones that are really hurting are those that mortgaged homes or took out credit card debt. Almost said or worse took out credit card debt, but if you walk away from your unsecured debt it's not the end of the world. If you stop paying a mortgage you can't afford that is a major life changer.
The key is to many people trade with emotion vs logic. They have a very bad habit of buying high and then selling low.
For all the bad press financial advisors get they serve a purpose and that is to help keep people from following their emotional trading ideas.