Be careful, we may fall MUCH further

Unless you have been living under a rock, we just experienced a catastrophic crypto meltdown.

People are understandably upset, posts here are now emotionally charged. However the writing was on the wall as highlighted in my previous post

I don’t intend this to be a told you so post, I want to simply urge people to be cautious and think twice before overinvesting.

This is NOT a dip, this is likely the start of a drawn out bear market.

Inflation and rates are still on the rise, there are no immediate fixes for the supply issue, covid is still running rampant and the risk of war escalating grows by the day.

The Luna debacle broke alot of trust in stablecoins and crypto generally. People are all of a sudden realising these so called guaranteed stable coin returns were actually unrealistic and made of unicorn dust. Alot of people are taking a step back and thinking, are the returns on my staking realistic? Could I be like the Luna holders and not be able to take funds out in the event of a crash? Where are the returns coming from?

All valid risks, people are much cautious. The authorities will regulate this space as a result. They have their catalyst. They could force other stables like tether to reveal their assets and they too could be made of unicorn dust.

My message is this. The risks are still very grave here and if your not prepared to whether the storm think seriously about investing and never invest more than you can afford to lose.

I am still bullish long term. I will be patiently DCAing awaiting the next run. We will all be ok, just be sure you understand now is an extremely risky time to be investing.

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41 thoughts on “Be careful, we may fall MUCH further”

  1. I’ve realized something after reading more about crypto history and bear markets. All those posts that have gone around about how much money you would have made if you invested 1k into some of the top cryptos in Nov of 2020, the people who would have done that would have still been reading about and investing in crypto nearing the end of a close to 3 year bear market which had one false rally followed by the Covid crash before showing signs of recovery.

    It goes beyond just buying in early. It’s also buying into solid projects when the market looks bleak and has for a long time.

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  2. To those of you that are new to this: just slowly buy Bitcoin and eth here and there. Buy more when people are crying, buy less or sell when people are celebrating. Don’t invest money you’re not willing to lose.

    Don’t lose perspective: This isn’t a get rich quick scheme. If you treat it like it is, you’ll lose money, as you should. This isn’t a lifestyle or a belief or a cult. It is an investment. Don’t get too caught up in it

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  3. My coins are in cold storage.

    I am just gonna sit this shitstorm out instead of running the risk of getting my coins out of my trezor, pay fees to exchange m to binance, pay fees to exchange them for USD and pay fees for withdraw them to my bank account, where they KYC the shit out of me.Risking Fiat inflation, and the do the same thing in reverse in the next Bull run.
    Join me for a Pint at the winchester and we’ll watch this shitshow together!

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  4. The only people really sweating are ones that dumped way too much money into crypto.

    Sure I’m bummed about it but even if it goes to 0 my life will stay the same.

    Everyone always says “only invest what you can afford to lose,” but no one actually understands what that means. If you’re having a mental breakdown today….you don’t know what that means.

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  5. What people usually don’t get is that the bear market stretches over a few months, and rather than a sharp decline, it is a slow decline over that period. You wouldn’t know what hit you till it’s too late.

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  6. My emotions are now completely removed from investing. I don’t care that my portfolio is dropping as it makes my DCA way more rewarding

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  7. I’m already down over 80% in such a short time, I literally don’t give a fuck. Tank this fake ass market.

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  8. I started buying 20 bucks In btc every pay check maybe for about two years now I basically just assume it’s gone forever unless one day I’m magically rich

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  9. IMHO opinion, this crash is an overreaction of immense size. Especially Bitcoin wise. This doesn’t mean it can’t get worse, but I personally am buying.

    COVID is a lot less worse than 1 or 2 years ago. China is just crazy with how they handle the situation. Again this doesn’t mean they’ll act more rationally in the short term future, but I’d bet on that rather than them keeping the economy shut down for much longer.

    The war in Ukraine has imo gotten a lot less bad. First panic of nuclear war is cooling off, Russia isn’t making significant progress, China doesn’t seem to be interested to get involved, the west is united. Putin still could use a nuke, but he must know that this would be suicide. Again doesn’t mean he won’t do it, but I’m betting on him not being THAT stupid.

    Inflation should fuel Bitcoins price in principle. Once it stabilizes, people will understand again that their cash loses a guaranteed 10% a year. With Bitcoin they got a chance of carrying their wealth into the future.

    This all being said, markets can be irrational for much longer than you can be liquid. Don’t ape all in, rather DCA. But also don’t panic, this is a huge chance. If you ever wondered how some normal guy could possibly accumulate more than 1 BTC, or more than 10 ETH, here’s your answer. They buy when it’s cheap and people think crypto is dead. And crypto hasn’t been this dead in a long time.

    Also remember: One protocol failed. BTC, ETH, ADA work just as fine as last week. Usdt et. al. are just fine. This is an overreaction.

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  10. You consider this to be the START of the bearmarket? The way from 69k to 40 is certainly part of the bearmarket too.

    We are nearing levels where the bearmarket could be over sooner than you think and a new cycle begins.

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  11. Thing is, if stock market goes back up. Crypto will follow. No way democrats don’t do their best to get stock market going before elections…

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  12. Bruh, I’ve been saying we’ve been in a bear market since December of 2021 but you’re basically saying “I told you so”. Many people saw this coming, but the world is down right now. Inflation reports have been bad for several months and the US has introduced multiple rate hikes with several more planned. COVID is endemic now and the world goes through surges, but it’s probably never gonna shut down again unless a truly deadly (>10% mortality) strain never evolves.

    Since markets across the world are down and inflation is a problem, that causes people to be more cautious with investing and crypto is known for volatility. It makes sense for it to suffer more during times where cash is needed.

    LUNA going down exposed flaws in their algorithm and it got taken advantage of. If a massive project like that had such a fatal flaw, then it should be shaking confidence throughout the space that things are far from a guarantee.

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  13. This is a CRASH, the entire crypto market is down 13% today alone. Don’t get caught holding the falling knife

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  14. Let this bloodbath teach you all fucking dumbasses who leveraged crypto, to never do that again! Now shower me with downvotes because I can sure use some.

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  15. Shit like this is just a buying opportunity, spread your buys, don’t go in above what you can afford to lose..

    I am buying and will keep buying in small increments, I am buying at prices I never thought I would see again on some stuff…

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  16. If I have $4k in alts but down to $2k is it reasonable to exit now? Might renter later but my exit at a loss was losing half…

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  17. Bruh just because people don’t read about a stable coin being backed by nothing doesn’t mean the trust is gone, just in certain projects that maybe too good to be true.

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  18. Stopped DCA’ing on Tuesday and just been trying to gauge where the plummet will end before I start buying more.

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  19. I’m so sick of posts like this bullshit as though you know more than the guy saying we’re going to 100k soon. You don’t.

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  20. I mean isn’t money just unicorn dust?

    Only difference is we put it on a blockchain instead of paper, thereby saving some trees.

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  21. True words man. I am still confident but I am going to wait for a month or two before I start investing again. It is tempting to buy now but I have been in situations before where a 50% drop changes to a 90% later

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  22. So if I’ve been steadily DCAing and plan to HODL for the next 5+ years, should I have any reason to worry about the market right now?

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  23. Until crypto is widely adopted as a means of exchange, it will be a volatile and highly risky investment. It has to stabilize to be a reasonable means of exchange, but the volatility limits adoption. The question is how much it gets adopted over time and how much of a stabilizing effect this has. If you think 20% “guaranteed” returns from staking are possible, then you don’t understand the hidden risk. Which to be fair, I don’t usually understand, but I understand well enough to avoid those and only invest a small amount relative to my actual net worth on a few projects I think have potential along with ETH and BTC. I guess I am buying the dip a bit – I just doubled my ALGO position for only $300 lol. If it drops another half, I may again. And I put in like $50 a month on either ETH or BTC. I get BAT from my browser. Also get BTC rewards from my credit card. If it all went to zero permanently, I’d feel like a bit like a chump, but I won’t miss it anymore than I would had I spent a couple grand overall on a wild weekend in Vegas.

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  24. I’ve gotten into the habit to buy percentages at a time of what I felt like plunking down for the day. If I have a hankering to put down $100 instead of blowing it all the $100 at a time I’ll buy $25 instead then come back in an hour and see if it dipped or not after that. Buy more if it dips and just hold off if it doesn’t. That way I get the dopamine hit while doing this weird DCAing thing but really just wanting the dopamine effect of buying something

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