A Licking in Litecoin / What is going on with Crypto?
Well, I decided to finally get my feet wet a few weeks ago and purchased some Litecoin. I was very excited about the possibility of the soon to be news from Charlie Lee. Waiting with anticipation I found a little more money hiding under my couch and bought some more Litecoin. Now reality has kicked in. Talk about loosing my shirt in a matter of 48 hours. The last 2 days has literally kicked me in the stomach. I would take a butt whipping any day over this nasty fall in Crypto.
On the bright side, at least I didn't sell any of my silver to purchase this invisible coin called Litecoin. Litecoin has proven itself in Name. My pockets are now much "Lighter" from Litecoin. I hope this puppy goes higher so I can recoup some of my losses. Thoughts? Do any of you have any stories about getting a good ole whipping yesterday and today in the Crypto World? Good Luck to us all. Cheers.
(image from jewsdownunder.com)
Same!
I'm just hoping it comes back eventually. Luckily it was only a little and not money I'll need anytime soon so I can wait.
I'm actually more bummed that Steem is down, I just realized how much my Steem was really worth on Monday and now it's only half... :(
Yeah, I saw that too. Ouch.
Just HODL, ??????? When the Nasdaq Index hit 5000 back in March 2000, it took 17 years to get back to EVEN. Do you have 17 years to take profit. Just saying.
Fortunately I'm only using play money. Couldn't handle this pressure on a serious level.
Not sure if there is anything like play money, investing is a zero sum game, a buyer = a seller, at an agreed upon price. If your investment is underwater, then someone gained at your expense.
You never go broke taking a profit, which means you have to sell at one point, Just HODLing is paper profits.
You're so nice for commenting on this post. For that, I gave you a vote!
The past few days have been a serious gut check.... For those in it trying to get crypto-rich and leave their 9-5 next month it's probably even worse, but I certainly don't think it's the end of crypto or anything.
It's a little more severe than a "healthy correction", but I think it will come back over the next few weeks and months. Blockchain tech isn't going anywhere.
In my opinion we gotta be in this for the long term just like gold and silver, the short term insane highs are always fun and exciting, but sometimes a dose of reality is a blessing in disguise.
Hopefully this is a nice step towards maturity for cryptocurrencies, but I guess we just have to wait and see...
Yes, this is right. Do people already not remember $35 silver? Well $35 cad anyway, Not that long ago really. Then a long correction which has been a buying opportunity like never before. Or how about the .com bubble pop, then a market recovery. I think crypto has to go through the same, but I think it is a much faster market!
I was fully invested in the silver rush of 2011. Sold at $41, and around $31. Sure glad I did.
I"m with you. Just waiting and seeing what happens. I'm in and won't leave. Wish I had more powder at these levels.
Thats always the problem, lack of liquidity in times like this when you could be buying up cheap assets or crypto!
Just hold. People don't join the economic revolution in single file. Adoption comes in waves of people like water hitting the shore, but the tide is still coming in. Zoom out on any crypto graph and you can see the trend. You can see these crashes have happened many times before and will keep happening for years to come. New assets are volatile just get used to it.
I agree. I continue to hold. I actually just bought a few more last hour. We shall see what transpires.
If it were me, I would just hold on to what I'd purchased. The fundamental technology behind all this hasn't changed in the last week or few weeks. I've read several "analysis" posts in the last 48 hours that point out that Bitcoin has been at its lowest price of the year between January 15-20 for four years in a row; elsewhere that this is also the first expiration date of the "options" everyone was so excited about in December and a lot of this could be "short selling." But I am no expert!
I agree. I actually just bought a few more litecoin. I figured why not. The fundamentals are there for sure.
Had the same experience. Bought my first crypto two weeks ago including litecoin, and lost 50% of everything up to date!
Ah, sounds like you are in the same boat I am. Lite coin does seem to be going up a little now. Hopefully it will hold up. Hope it all works out for the both of us.
Stop stop dont eat he is a little kidd
The kid is supposed to be me being eaten by the Crypto Monster. ha
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A very nice post eh? Thanks for the encouragement.
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