Ummm, we don’t know yet, but here’s a recap and our naïve thoughts!
“I TOLD YOU it was all a scam! It could all be at zero by tomorrow!”
“My Lambo fund just turned into a Prius-if-I’m-Lucky fund.”
“This CANNOT be happening to me! I won’t have enough left to feed my CryptoKitties!”
HODL or Fire Sale?
The market took a dive yesterday (Tuesday, January 16), to the tune of – 40%. The dive continued into today (Wednesday, January 17). Which begs the question…
Is this the end of times? Many would think so, but the other half is standing firm, and happily picking up coins at garage sale prices.
We don’t know exactly what to make of it all, but news throughout Twitter offered the following up-and-down thoughts:
- China and South Korea continue the pressure for regulation (down)
- The market has corrected each January, for the past 3 years (up)
- Capital One has blocked all users from making crypto-related purchases (down)
- The NBA will begin selling tickets for Bitcoin, next season (up)
Still the Beginning
One statement we’d like to address is that of how cryptocurrency is in the early-to-mid 90s of the dot com era.
While it’s seemingly inevitable that there will be a bubble pop, we don’t think you should compare year-over-year timelines, because adoption rates have changed.
The world is moving faster than it did during the rise of the internet. The 1993-2000 internet slide may be much shorter in the crypto space. The question you must ask yourself is, sell…or HODL?