I want to start out by saying I am here with lackadaisical words regarding the state of cryptocurrency. I will not be posting any graphs because as far as I am concerned cryptocurrencies are still in a very early stage of development and adoption. You can look at graphs until your fuckin eyes bleed, but its not going to make you a millionaire.
I believe that the short term, big gain days of cryptocurrency are over. The days of hitting reddit and twitter and pumping coins are over. The crypto community hasnt seen extraordinary momentum since the release of Apecoin. In fact, the plummets of some altcoins such as Luna have been recieving more coverage than any positive news. So many blockchains have suspended withdrawals and in the process lost the trust of their most loyal adapters.
But I am here to tell you that this time of dismay need not be a period of turmoil. The worst thing that investors do during times like these is to pull their investments. You lose. Of course, watching your investments dwindle in value is unnerving. But do not that let that initial feeling of panic cause you to take heavy losses.
I have exactly no information to back what I am going to say. To quote Lil' Wayne, "You follow and I'll lead you, straight to the needle, the bottle, the battle, the beetles that eat you."
But this is the time to invest in sound projects. Do your reasearch. If the project is vague about the people behind it, steer clear. If you read a whitepaper with developers taking 20% of a coins' supply, leave that shit alone. If projects are offering APY's for your stake that are too good to be true, maybe keep away from them. Because in the end, what determines the greatest portion of a currency's value is its functionality and ability to be adapted to everyday schematics. But this is not the time to be dumping your favorite currency. This is the time to be collecting more of it. And as always, do not invest more money than you are comfortable losing.
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