A blood bath we are a taken...or are we?
I would like to add my 2 satoshi's to the madhouse of speculations, sky is falling, doom and gloom we are seeing, feeling and sick over.
First, if you had no plans of cashing out today, you have nothing to worry about. If you took your rent money to buy btc, you might want to look for a second job and/or a tent. But have no fears, bitcoin will be back.
Second, if you're in this for a fast buck with no hard work, good luck on that one.
Third, always and I mean always talk in satoshi value.
Fourth, there was a generation that only dreamed of making 7% off their retirement stash after paying 40 years into that fund. Today, this generation expects it within weeks...sad
Fifth, bitcoin will find a way, it always does. The blockchain is a living , breathing idea that no person, government or space alien can stop. When the blockchain space gets filled up with scammers and selfish people, the blockchain shakes those people out. This is what's happening now.
In closing, remember what your why was when you entered this space. Maybe this is a perfect time to x out the market and dig into the core "why" bitcoin came to be.
Bitcoin will find a way.
The price will be on downtrend and up trend. Do not lose hope for it is always changing. Niw if we are in the downtrend surely there will be happy days when the price will rise. Do not lose hope for it will happen in a blink of an eye and you need to be ready when the moment will come.