Is it the news of Trump vetoing an important defense bill or the XRP nonsense that is tanking the altcoin market right now? Whichever it is, it's annoying. It's annoying because I know that idiots who just got into crypto are freaking out about the increased volatility. Any little shock to the financial system in crypto can lead to a 30% dump like it's nothing. A lot of people who have never seen this before are now getting shook that they will lose everything, and they are selling everything. Like, literally. Even projects that are rock solid and essential to the future of the world are taking 30% hits.
I don't know whether to be grateful or really upset at these morons.
I'm only upset because I don't know how far this shit is going to dump, and I'm afraid of running out of bullets before I buy everything that I want. Even worse, I'm pissed that I didn't sell enough into the rally and I might have to let go of some of my alts to shore up my collateral to avoid liquidation. I always underestimate people's stupidity. I'm learning, but I still have much to learn.
I'll go with the positive. Thank you, idiots, for selling all of your altcoins to me. Even if I have to do a bit of extra work to balance my collateral levels, it will be worth it in the future. I will make sure to sell more into rallies so that I'll have plenty of stablecoins ready for the next dip without putting new money in.
At the same time, let this blog serve as a chill pill for you dipshits. Calm down. Stop using leverage so damn much. Selling Link down to sub-$10 levels is just stupid. I'l gladly take it, but I'd rather take a break on Christmas like we had in 2017. Why can't you dumbfucks shake yourselves out of the market on a regular work weekday?
If you're having trouble deciding what to do in a dump like this, it's easy. Buy the top altcoin projects. You don't need to go hunting for gems when everything is down. When you can get established products at a 40% discount with no change in fundamentals, take the easy route. Once everything goes back up, you can safely sell and diversify into more speculative alts.
If you invest in small alts now, you risk exit scams or the market crushing the project. Small teams may not be able to take a dip like this. It could kill the community, and community is what keeps projects going in this stage of crypto.
Merry Christmas, don't get liquidated, and sell on rallies. And please for the love of smelly shit, can you fucking noobs not tank the fucking market on Christmas Day? Let me have a break for God's sake. Shit.