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RE: Calm Down! A Few Thoughts about Investing and the Ups and Downs of the Cryptocurrency Markets
The only people who should truly be panicking are the ones who got greedy. The ones who took a mortgage out and then leverage it. Which if they live in America I’m sure a few regulators would like to have a word with them about that…
You cannot have massive gains without their being a major course correction and a “profit taking” session. Which always happens. It happened so many times I don’t understand people’s insanity over freaking out.
I do feel some empathy for those who got caught trading on margin... and then had to "chase" their margin calls all the way yo the bottom. In a market like, this, don't gamble with the grocery money... that's both greedy, AND banking on getting "money for nothing."
Sadly in situations like that you can’t have empathy for them. It will just encourage them to keep doing it again. It’s a sad harsh lesion.
I like many were also expect a correction before or on Christmas. It was long overdue and now a bunch of money that was off the table is coming back and people for most part get to enjoy the holidays.