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.
Hmm I am unsure in the first place again to why people thinks that bitcoin is falling. Look at the price now From last year the drastic changes is pretty clear that bitcoin is more on track right now than before.
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.
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.
Of course it does once this people understands that the bitcoin value is pretty useless if they will not circulate it. As long us we don't allow government to take charge then obviously bitcoin will always find its way.
When the blockchain space gets filled up with scammers and selfish people, the blockchain shakes those people out. This is what's happening now.
I personally a lil bit sad about this. This might be the biggest flaw of bitcoin since no one is control and no government is involved that can punish this people.