Drop It Like It's Hot
Bitcoin sinks, and crypto fades
If you’ve looked at your holdings in the last few days, you haven’t missed it. It’s here. A big move to the downside has come for Bitcoin the rest of the cryptocurrency market.
This bear market just won’t let us go, will it?
Over the weekend, for example, the price of Bitcoin hit a new two-month low. Not a total surprise though— sentiment on Wall Street has turned negative too, and the crypto markets tend to sell off first whenever sentiment goes south since they are the riskiest assets.
Some also blame Elon Musk for the selling (are you surprised?)
No one would fault you if you simply stopped looking at the price. If you locked your wallet and didn’t give it another look.
In fact, I’ve been saying it might be a good idea to so for a while. Put money down you’re willing to lose on assets you believe in, hold your positions, and come back to it later.
Much later.
Sentiment, after all, remains pretty bad.
Plus…
The Crypto Connection is for entertainment purposes only and is not meant to be financial advice. Please do your own research before investing in any asset class. Sara Celi is not a financial advisor, and holds several cryptocurrencies. To purchase her books on Amazon, please click here.