Dipping Market....
Its no surprise the Crypto market has been taking a massive hit for the last couple of days. Sweeping up millions of dollars from users portfolio. As we are talking BTC has fall down to $25500. This is something out of the context! Various news has been lurking about Crypto market and the ripple effect of those are coming in front of us.
One of the main reason for this dump is SEC going after Binance with quite a lot of allegations. Seems like there is a rumor Gary Gensler has been up against Binance due to some sort of personal vendetta. Seems like a lot has been happening in the past with Gary and Binance, read more here. Whatever the reason is, crypto is taking a hit and for some reason this will probably go on further creating panic amongst users!
Although, nothing can be done at this moment. Apart from holding into the portfolio and wait for the market to recover. DCA is probably out of the equation for many. As for me I have been doing that for some time and I am out of options atm. Either way, I do always tend to trade on coins which has potential backgrounds and have shown significant growth over the years. My portfolio consists of ETH, HIVE, OCEAN, SHIB (for Long Term), SPS, DEC and few other coins which I tend to hold for long term. Every coin seems to be affected by this dip.
What would have happened with me, if the current scenario would have taken place during my early days in crypto? For this answer, only Almighty knows what would have happened to me lol. I would have done the usual things, which many people are doing right now. Getting panicked and probably selling off their assets in this dip, thinking the market would dip even more! Probably thinking, "Let me save, what I have than just getting ripped off the dip".
Is it an opportunity?
It is difficult to say where BTC is moving towards. The speculation says it might reach to 23k in the coming days. If that happens, we are to see some massive dumps incoming! As for me, I have purchased what I wanted and I am just sitting idle and watching the market for the next few days.
- Am I in loss?
Well, yeah, I am!
- Am I concerned?
TBH nope!
- Will the market recover?
It should!
- How long will I have to wait to recover my loss?
I have nowhere else to be ;)
What could be the best buy atm?
As of this moment, there are some lucrative deals going on in the price of different crypto coins. If I would have FIAT, I would have jumped into top 30 coins. I would deduce and Do my own research and get into some positions and just hodl them for the upcoming days. On the other hand I would also invest upon the coins in HIVE blockchain. In my top list I would rather keep HIVE, SPS, DEC and few other assets regarding Splinterlands.
There are few rumors about SEC is after few of the top coins and seems like that news affected the hodlers quite bad. They have been selling the coins and getting out of those coins. Matic is one of those list. Which saw a massive dump in price compared to the other crypto coins.
SPS
SPS is in my top list of purchase. One of the reason is, the upcoming listing of SPS in exchanges. In addition to all the updates that are going to appear this year, the play to earn game is probably going to explode. Tbh if the market stays the way it is, getting listed at this moment is not really a good time. I as a player,investor would not recomment to get listed during this period. As the market is already plunging, lets not make it any worse for the economy of the game. As the sole purpose of the listing is to attract users, investors into the game. Which would be possible upon listing in a good environment.
Seems like the market is slowly recovering and seems like some good news such as this is hovering around the world of crypto. So lets see where it takes us in the coming days!
What have you been upto, in the last couple of days? Are you buying/ panicking/ selling?
Best regards
Rehan
Want to play & earn from Splinterlands
Join via, My Referral link
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It's hard not to be bullish BTC, even with the SEC FUD. I see dips as opportunities, at this point. However, that's simply my opinion.🙃
Yup, when you stay in market for couple of years this sort of situations does not seem to affect you like the way it does to newbies. But yeah, better to know when to get in and make the best out of the opportunity.
For sure!
I keep doing DCA whenever possible.