When there’s blood on the streets...

If you’re new to crypto as I am, you’re first instinct is to panic. I’ve watched what has unfolded on the crypto market over the past couple of hours and I can feel the fear rising up in me.

“What am I going to do? My investment that was prospering yesterday is plummeting today.”

Baron Rothschild, a British nobleman and member of the Rothschild banking family coined the phrase,

“The time to buy is when there’s blood on the streets.”

I don’t claim to know everything about this market but I will say that the right thing to do is usually the opposite of the way the market makes you feel.

When every coin is going up and we’re all profiting, you can feel the draw to tap on that buy button and buy more of the coin that’s shooting up the charts! We see green candles and the fear of missing out sets in amd we are consumed by the notion that we don’t own enough crypto. Just for the record, none of us own enough Bitcoin. That’s a fact.

But it will be okay. This is still a bull market and even in the strongest of bull markets, corrections like this are healthy. 

I’m not necessarily writing this article to make you feel batter. And maybe my words don’t help at all. I’m writing this so I can feel better. I’ve seen what happens when someone sells off all of their positions because they think it’s over. And believe you me, there will be an end to this part of the cycle. 

There will be dumps, whether it comes from miners or whales or what not. But these dumps are what the whales are waiting for. Grayscale has not stopped accumulating BTC and ETH. Tesla did not just purchase $1.5 billion BTC at around 38k to sell off at 45-47k. Elon’s not selling. Michael Saylor’s not selling. And neither should you.

This is not financial advice, it’s more emotional and psychological. Just stop, take a minute and breathe, and then think about this for a second. These financial institutions that haven’t gotten into this market, don’t want to get in when we’re at all time highs and in price discovery. They want to buy when there’s blood on the streets.

HODL crypto fam. In a month you’ll be laughing at the fact that you were worried we hit the market top! Or maybe you’re already laughing at the noobs like me for even letting such a thought creep into my brain!

Thanks for reading.