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RE: It's carnage out there in crypto land! What's going on?
As a collector and long term holder, I am not worried in the least. I know there is uncertainty out there with a variety of different things (Bitcoin update on August 1st, Etherium scalability, regulation, etc.), but I see some of these dips as a buying opportunity. As long as you have the mindset that dips will happen and this may be a chance to load up on deals, then we will all be fine. My plan is to remain calm and ride it out.
I like the plan. I just heard of this August 1st business, however, any ideas out there about what the actual risk is there? Or is it another spot where it is just a dip & not an irreversible crash?
Just look at the history of Bitcoin - it's had many crashes of this magnitude. The last huge crash was back in 2013/2014 and led to a period of stability where the price settled at roughly $200-$300. Smart people acquired during this period.
I think essentially, the latest volatile speculation bubble has just popped, and we're going to see a slow descent until it evens out and remains stable at a lower price for a while. Before the next bubble ;) so buy up!
Ya- reminds me of 2014 dip. Sub $200 for a while. A terrific opportunity in retrospect. This dip may be similar in the long run.
I'm taking my btc offline for the transistion. I may leave 1 btc on but the rest goes into armory offline, or if i get it in time, the Ledger Nano S i ordered. Just to be safe. I don't think there's a consensus yet as to whether this will be a rocky hard fork or what they call a soft fork. I'm concerned but it could be a great time to buy near end of next month.
I'm older and came into crypto as a long term, high yield thing. I'm looking at 5 years, possibly 10 before pulling out. I did buy up more today as well. Just ether. I think we haven't seen btc drop yet. My guy says it's gonna drop pretty hard leading up to the end of July. Then? I buy even more of it. I have faith in the longrun even though i'm clearly in the red right now. Not very worried