Those of you who follow me will have noticed that I have become as storm obsessed as a storm chaser.
Well the evidence this morning when I checked prices seems to suggest that my warnings were right. Yesterday I even questioned whether I was just a doomsayer or a prophet. I couldn't say when but i knew that after a prolonged period of overheating a storm always follows and the same is true of the crypto market.
Yesterday I suggested that maybe yearn.finance should be the barometer of what is really happening and in the last two days it has dropped from a high of about £30,000 to about £21,000. For some perspective that is almost a third and what happens next who knows.
What I do know though is that hodling the life out of it - as I did in September - can lead to a lot of paralysis and tie up huge amounts of your portfolio.
Last week I was urging people to move their funds to StableCoin to ride out the storm
This post might sound a bit 'I told you so,' but I could still be wrong. Only the next few days will tell.
More importantly the reason why I am sharing this today it because if your portfolio has been taken down you have a decision to make. Do you hodl, sell at a loss or consolidate? FUD will hold you back but a bold decision may take you down.. I am also writing to encourage others in the community to share their views on the best way of managing such a drop.
As for me I am waiting for it to bottom out and then my DAI will be ready to go again.
Whatever you are doing and wherever you are at stay safe and stay well and remember if this is that massive correction the market will bounce back again at some point.
Finally please take time to check out my other posts in which I warned and advised on how to batten down the hatches in readiness for the approaching storm