Around the time of the Great Depression, many of the wealthy hatched a plan. At the height of their worth, they quietly sold their stocks and prepared for a coup. What followed was a drastic correction in the market where prices plummeted. Many who for the last decade had been building their wealth saw it all vanish and they panic sold to save what little they could.
Those that had sold at the top, knowing a fall was coming, waited till the bottom, and then bought back stocks and real estate at dirt cheap prices. The consolidation of wealth.
The last few years of Crypto's has been the wild west, and the big, smart money has stayed out of the game. Hackers and a young crowd have mainly driven their growth, and many have gotten rich because of it. Big money doesn't like this. I also mentioned in a previous post that much of what we saw recently was due to "illegal" money getting out of the game, or at least certain ones (mainly BTC). Analysts have shown that the percentage of BTC transactions conducted for illegal activities went from 30% a couple months ago to 1% today.
The Big money can wait out all the New Money that is scared of losing their fortune. People that suddenly had $100,000+ are panicking during this recent dip, and those that know are more than willing to buy your BTC at $9,000 and hold it until it's $50,000 plus.
Take a breath. Go do some exercise or get some sun. In a month you will either still have your cryptos or you won't, but Blockchain is the future. Stop acting like New Money, and realize we are only at the beginning of a world shifting transition. Like Warren Buffet says, don't buy with hopes of selling soon for a quick profit. Buy with the intention of holding forever.
Keeping your head above all the FUD that is going on is key as we know the blockchain is here to stay...
Yeah, we are starting to see Blockchain really step onto the world stage. It's about to take off.