Did you sell during the dump? Did you cry? I know it hurt . My holdings were down about 50% in my best estimation. That feeling wad brutal. The feeling of helplessness and failure. Having to listen to all the people that told you crypto was a ponzi scheme , say "I told you so".
Then bitcoin bounced from 30000 yesterdsy to 41500 at the time of this post. I have read that bitcoin miners are not selling below 40000. Which may be true as the price has settled just above 40000 since the massacre we had yesterday.
This bounce back up to 41000 has made me feel great about holding through the dump. It was hard. I sold nothing and it was terribly painful.
My solution was to buy more coins on the dip. I lent out my stable coins . Borrowed 75% of that in stable coins and bought Dot , Ada, and One. (Also bunny when it dropped to $12.00). They have all increased in price and I may be able to pay my borrowed stable coins while receiving the remaining profit from the coins I bought. Lending is confusing at first and if you don't understand what I am saying, I recommend looking into Venus or Fortube on Binance Smart Chain.
This transactions really helped to ease the pain of the bitcoin dump. I dont know what the reason for this psychological change, but I felt more confident and the helplessness had retreated.
The point of all this is to share my psychological state during and after this horrible crash we endured. But if you had diamond hands and held through you will be rewarded, even more so if you bought at the bottom . "Be greedy when others are feaful " , said Warren Buffet. That quote was the reason I bought the dump, even though my mind was trying to tell me sell.
I hope all of you held through and we take all of crypto to the masses. My faith in crypto is unwavering and I will not let fear , a temporary feeling, ruin my future. If you believe in crypto then hold on with all your might. If you don't, leave and go buy Amazon stock. Crypto needs the believers to take this thing to the next level.
Thanks for reading
Check out Venus.io and Fortube for lending and borrowing on Bsc.
Safepal Wallet -gives US citizens access to Binance. The real Binance. Worth a look . I love it.