Time to Panic or Opportunity of a Lifetime?

Time to Panic or Opportunity of a Lifetime?

By The Lynx | Crypto Lynx | 22 Jun 2021


I am actually excited about the current status of cryptocurrencies. Unlike a lot of people that are driven by fear or greed, I am driven by big pictures and long-term trends. I read blogs by experienced traders. What many of them are saying (and what I believe to be true), is that everything that has happened both in terms of Bitcoin’s peak earlier this year as well as recent lows, has nothing to do with the economic fundamentals of Bitcoin.

I own more crypto today than I did three months ago. Yes, I bought some BTC and altcoins while they were on their wild run. Yes, the dollar value of my portfolio is considerably less that it was three months ago. However, it is higher than it was six months ago. More importantly, the actual volume of crypto in my humble portfolio is significantly higher. I do not want anyone to lose money, but I am looking at the current situation as a great opportunity for those who are in a position to be able to wait. I am even hoping that BTC slides down to the mid 20,000’s before beginning a long and steady climb back up. That’s the target price for my next buy.

An article today on CNBC provides some solid reasons why we should not worry about another crypto winter.

According to Quantum Economics founder Mati Greenspan, “We may never see another crypto winter again. There’s a lot more utility, adoption, and diversification in the industry than we had in 2014 or 2018.”

This is precisely what I was getting at in a previous article I published last month. The uses of Bitcoin, the Ethereum ecosystem, and Meme coins continue to find new niches and applications. Wild swings are more of a symptom of the psychology of people than the economic indicators of cryptocurrency.

The article points out that "bitcoin bulls insist the underlying fundamentals of bitcoin are much stronger in 2021, than they were during its last bear market in 2018."

“All the network fundamentals are bullish, most of all we are at all-time highs of new user growth,” said on-chain analyst and statistician Willy Woo.

Despites setbacks with flip-flopping billionaires and drama in China, the current level of new adoption is establishing an intrinsic value that will prevail in the long-term.

Short-term, BTC levels should stabilize higher than the lows of the famed crypto winter. It may settle and remain for months or even much longer. That’s ok. Patience will be key.

I understand that my optimism and the optimism of experts more knowledgeable than I may sound like fingernails on a chalk board to those who have lost a lot of money. I can avoid that sinking feeling by looking at coin and token totals rather than dollar signs. In time, those dollar signs will bring me a satisfaction that I kept a long-term perspective. In the meantime, I will continue to accumulate more crypto. Short on cash? The faucets are paying more crypto to make up for lower prices. Most faucets are a complete waste of time, but I am doing quite well on Cointiply, earning at least $50/month. I recommend a few others on my site, www.cryptolynx.co

Obviously, I see this as a great opportunity and not a time to panic. Time will tell if I am right.

The Lynx

 

As always, buy, sell, and trade at your own risk. Only invest what you are willing to lose.

 

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The Lynx
The Lynx

A musician, artist, writer, hiker, gamer, avid reader, and crypto-enthusiast. I am a person always seeking for new ideas. My name "Lynx' goes back to a nickname in college. I have an online support group for those suffering with grief: www.lifelynx.net.


Crypto Lynx
Crypto Lynx

This blog will inform and entertain. From the perspective of a professional writer and educator with many hobbies, I take a common sense approach to sharing advice and information. I am not a professional trader; therefore, always buy, sell, and trade at your own risk. The information in this blog will be well-researched and factual to the best of my knowledge. Yet, what you do with this information is your decision. www.cryptolynx.co www.coinslynx.com

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