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If you own Bitcoin, Ethereum, or pretty much any other cryptocurrency, your portfolio isn’t looking very good today. And you’ve probably gotten your share of smug looks from folks in the office who’d always said this crypto thing is a scam.
And I bet you’re also sick of the crypto-faithful telling you to HODL (aka “hold”). My portfolio is also a sad sight today. But as I’m looking at the double digit red numbers next to the names of the coins I own, I mostly feel relief. SEE ALSO: Here’s what you need to know before you buy bitcoin Nobody likes to lose.
And yeah, it would’ve been nice if Bitcoin, Ethereum, and other good and interesting projects in the cryptospace continued their moon mission until everyone that owns but a single coin is rich. But the growth in the past year has been so insane — as documented here, here and here — that this could only end in two ways. One is a correction, which is what’s happening now.
Prices are going down and people are selling their coins, but the pace at which this is happening is reasonable considering the prices rose equally as fast. At some point, an equilibrium between buyers and sellers will be reached and, unless we get more bad news, the growth will return, hopefully at a saner pace. The other option is a total market crash — the type that could happen on news that, say, Bitcoin has been banned in the U.S., or that the operators of a major exchange has exit scammed their customers, stealing all their money and moving to the Bahamas with their Lambos. Read more from mashable.com…
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