On days like this it's time to take a day off of crypto

The markets are terrible, with the downswing in Bitcoin, and it's taking everything with it. If you bought in recently you're probably panicking big time by now. If you've bought in a long time ago, maybe less so but you'll feel it as well: I know I am.

HODL OR SELL

At this point you're going to have to decide on wether or not you're going to HODL or sell, and probably soon too or the decision will be made for you (too late to sell by then.. maybe it already is).

It doesn't look to me like the trend is going to reverse in a few days and Bitcoin is likely to keep going down to $6000 and probably to $5400 in my opinion. If it holds there, nobody knows. I'm keeping $2K in the back of my mind, which I feel brings us back to where we started the hype around Bitcoin.

When I look at other bubbles, I must admit I often see it crashing down back to the place where it came from in the first place - although usually slightly higher than it. I wouldn't be surprised to see this happen to Bitcoin. I think $2K is probably the absolute lowest - I know I'll be buying then for sure and I am sure many others will be too. At some point the bottom will have been found, and upward action will continue. Of course nobody knows where the bottom will be, and making a bet on it means risking your entire position if you're wrong. Which is why I'd rather hodl tightly on to my small stack instead. I know what I have, and atleast I won't have any less of it.
In a way I hope we go down as fast as possible, so we hit this bottom as soon as possible. Last time it took about a year and a half to finally find the bottom at $200 or so.

I myself am hodling through this dip, as I have done with every dip since 2014. It hasn't worked out bad for me, and I am fully expecting that once Bitcoin recovers that we will go on another bull run bringing us higher than ever before. I can wait a year or two if I have to for the next bul run. With the knowledge I have now, I will be able to spot it early on and benefit.

DO SOMETHING ELSE

There's not much you can do on days like this as a hodler. Since I don't sell, and the charts just make me sad and weary, on days like these I use my time to catch up on other things I've lagged behind over the past months. Blockfolio is just as depressing on days like this as it is addictive on good days, so I don't even look at the dollar value anymore and just look at the BTC value (also going down.. but still, who cares about dollars, it's more BTC value that I want). News is slow too, except for FUD which is widespread already and I don't feel like repeating it on my blog.

I'm glad I consolidated my positions into my core holdings a while ago. As usual I moved a little too early and there was more growth in the market, but looking back I'm happy to be too early rather than too late. I'm pretty confident that ETH, OMG and NEO are very good bets in 2018 despite Bitcoin's falling price, and in fact we may see them become decoupled if hype catches on but Bitcoin keeps falling.

We're still going to the moon, I'm sure of that. For the time being, however, I'm watching some series I need to catch up on instead!

(Art by Roy Lichtenstein)