No panic, this is just a correction
So we appear to be in a correction. Right now Bitcoin is testing suport at $2,000, and pretty much every alt is puking. Personally, I am down 30% in a day, which is huge.
So, if you have invested recently and are down, or back to even or even only slightly up I just thought it would be best to remind of my investment strategy and why I am doing.
Bitcoin has ridden many a storm, around four times it has corrected from parabolic moves to a lower point. The market panics and there is a huge sell-off, followed by a period of calm, followed by a period of growth until we eventually reach more new all-time highs.
I am using Bitcoin as my barometer. I think it will drop below $2k and test and settle at around $1,800. Maybe even lower.
So the strategy, remember this is long term investment based on technology, thus 5 - 10 years. The markets are volatile; they go up and down sometimes at silly levels. One thing I can't do very well is call the top or the bottom, so I sit and ride out the small bumps and drops, and I sit and ride out the big ones too.
Do I believe crypto is over? No. Do I believe we have seen the last all time high? No.
So don't panic, don't sell, if you invested for a short term gain then I can't help you. If you panic sold then, I can't help you. If you are in this for the long run then great.
Personally, when we find the bottom, I will likely invest again.
Any questions, any fears, please just ask.