We see similar difficulties in the world of cryptocurrencies, for example, the consequences of the Bitcoin Cash fork and the irresponsible actions of developer activists have hurt the whole crypto community. The Securities and Exchange Commission (SEC) with its countermeasures and the unreliability of many ICOs, with their unfulfilled obligations, greatly aggravated the attitude of investors, who are already largely skeptical of cryptoeconomics.
Of course, investors who understand the whole prospect of cryptocurrency, and who want to work in this field in the conditions of such a mess are looking for the safest place possible and Ripple may be (why? You will learn in the following publications), since there is no drama behind it, like for example with Bitcoin Cash .
No one knows the immediate and future future, and no one can say for sure what will happen next, but now the pressure on the crypt from above is clearly visible. The current burden does not negate the need and importance of the innovative blockchain and decentralized financial exchanges in general.
Nobody knows exactly where the bottom is, and any predictions may be erroneous, in the end, a version that will become reality will only be an accidental hit by one of the guesses. Alas, no one knows the future. But the fact that most traders have lost a lot of money over the past period is a fact that can be disappointed in the crypt and fall into depression, as well as lose understanding of the prospects for the future and turn away from the crypt, signing up to the ranks of haters and frustrated losers. But this behavior does not help the community move forward. Some of the traders neglect the important rules for the allocation of capital and risk management (they allow themselves to invest more than they can afford to lose), but are still in the trade. It’s categorically impossible to do so, but what is important is that those who are still in the crypt and continue to work and study this topic are great guys and deserve a lot of respect for keeping you in this market in such a difficult time. Also, current traders need moral support and sympathy, since everyone who is in the trade now receives tremendous stress and moral pressure. Now everyone is at the peak of emotions, everyone suffers and in many respects receives not only financial damage. Nobody thought that it would be so hard and no one expected such behavior from the market in such a short time. The best thing you can do now is take care of your emotional background, morale and emotional balance. Stress is a huge problem that should not be neglected. In addition to the fanatical trading, it is important not to forget about your health and condition in general. If you are overcome by panic or excessive anxiety, then just take a break from trading and the crypt as a whole. You need to reboot, distract yourself: take a walk for a walk, meet your relatives, take more time for your favorite hobby, go in for sports and so on ...
If you have lost enough, self-blame and self-criticism will not help. There is no universal solution for temporary difficulties, remember this! There are a huge number of examples of people who lost everything, but thanks to their stamina and mental balance, they managed not only to return everything to their places, but even to achieve further prosperity. A lot depends on your mental state, all “unsolvable” problems originate in the mind.
Those who survive the current crisis will gain vast experience and will emerge from the situation as a better and more powerful trader or investor. In subsequent years, it is not difficult to guess that this downtrend will be remembered as something incredible (now look at the drawdowns of more than 80% of Bitcoins of the past years). It does not matter how much the market is squandering now, the fact is that cryptocurrencies will create a lot of rich people in the future and some of them lay the foundation for their future success right now. Yes, now we are falling, someone is losing investments, but it is not worth fixing the losses, the market will recover! It is always recovering and moving cyclically. Open the “pattern of market cycle psychology” and at the same time look at any of the top-level assets known to the world, everywhere we will see cyclicality, swings both up and down, as well as a correction down to -95%, after which the cost not only overcame the price maximum , but also set new price records. Will you be among those who got to the next wave of development depends only on you.
Creating a new, and most importantly, better financial system is an extremely difficult task, and competing with fiat money and the banking system is generally dangerous! They all understand what banking systems are, how they work, and what kind of people and forces are behind it. The traditional financial world will not surrender without a fight.
No matter when the bullran starts, growth can occur at any time, it is important whether you take part in it. But besides just the bull trend of the industry, it is necessary to further develop. Blockchain-based technologies, decentralized systems, innovative applications all this will bring the world a new round of development. We are still on the verge of new breakthroughs of historic proportions. ICO work and bring great benefits, of course, we mean fair and honest projects. The fact that there is a large amount of deception and manipulation in the industry once again indicates its “youth” and the need for further development, competent settlement and control. Already there are real projects and users using decentralization in their activities, blockchain and Bitcoin itself, crypto-transactions are held every day, a whole infrastructure is built. None of this has disappeared and has died, large companies are just starting to join and participate in development, large players and whales just as well have not gone anywhere.
Keep yourself in hand, be strong and control emotions, we all go through this stage and others like that, as well as take a ride on new waves of growth and development.
With the next bullran, we will remember and tell everyone about the bitcoin’s great fall in 2018
History is created before our eyes!