written by reader The Sea of Crypto Red.

By aquarius59, December 10, 2020

For days now, the exchanges running cryptos/altcoins have been a sea of red. Down. Down. Down. I keep waiting for Johnny Cash to belt out Down, down, down and the flames they grew higher. Any reason for this downturn? I can’t find anything anywhere on line. I’m used to ups and downs all over the place. But this is … disquieting. Then some analysts I’ve read are chomping on Bitcoin, saying that if it falls too far below 18K it’s going to crash and burn all the way down to the 10K mark. Any thoughts on that? Bulls and Bears. Oy. Blunderbuss on both sides of the fence. Makes me want to pack up my marbles and go home.

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December 11, 2020 11:39 pm

I jumped in to crypto in a big way in early may. A very lucky time indeed as crypto was in the doldrums and i purchased 10 big bags eth, link,vet,ada, xtz, atom, knc, dot, fet and celr. With the exception of xtz, everyone of them is currently up 200-400%. However, the volatility is insane. Obviously what saved me was my entry points. Yes the last 5-6 days have been a 10-15 % downturn. But that was proceeded by a 15-20% upturn. The only way to make sense of it is to zoom out and not follow it daily. I agree, it sucks because, they are ALL down. At least on wall st u might have a stock or two win for u on a bad day. Not in cryptoland. Until it evolves a bit they are all gonna trade in unison.
Pick the right altcoins, focus on defi, and never get fomo. Never ever buy crypto when its going up. Wait till a day like today when the sky is falling and buy your bags; than be patient and you will experience that volatility from the winning side- and it is effing glorius!

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