Roses are red, violets are blue, when the market’s not green, you know what to do!
These past several weeks have not been an easy ride for those involved in crypto. Some who only just entered the market and bought at the very top now have first-hand experience of what it feels like to be trapped inside the belly of the beast.
Reddit is a great place for many in the crypto community to go and share their stories. For some, spirits have been crushed as their dreams to get rich quick have drowned in a bloody sea of red. Others are standing strong, optimistically keeping their chins up with humour intact. It depends if you’re a glass half empty or glass half full kind of person as to whether you see this time as an opportunity to stay in and buy the dip, or get out because it’s all too much.
Humour is the Best Medicine
This funny Redditer wrote:
Don’t get me wrong, the highs are amazing, but the lows have become too much to handle. I can no longer cling to something that is always volatile, makes me feel nervous and insecure, and may ultimately cost me 50% of my savings. So I’m leaving. Leaving my wife to spend more time studying the crypto charts.
AlreadyLiberated, Reddit user
Wild volatility is part of the parcel when it comes to dabbling in cryptocurrency. It certainly isn’t for the faint-hearted or those with weak hands. OGs know this all too well. Those who understand what goes up must come down (then usually goes back up again) are seeing these red charts as an opportunity to just buy more, dollar-cost averaging their positions to accumulate more of the coins they already hold.
It may well be that we will crash further tomorrow. But then I will just buy more next month and be happy to see [the] average cost of my coins getting lower.
ethereum88, Reddit user
Others are just panicking and taking to Reddit to unleash their frustration and disappointment. Some are a little cynical, but with a good dose of humour to help numb the pain.
Crypto Bear Market Woes
Since May, most of us have watched our portfolios get cut in half. No amount of “refreshing” is going to help. There are two main options:
- 1) Stay in and HODL
- 2) Get out and sell at a loss
Go find a job. Pray to your God for the bull market to return or at least for a quick death cause working for these wages when inflation is this high is pretty much slavery.
SmilkyD, Reddit user
Other than constantly refreshing your portfolio, there is also the Fear and Greed index to help us know when things are looking up again. Stay strong, crypto lovers. Whether this really is the beginning of an unpredictably premature bear market, unleashed upon us much more swiftly than anticipated, or if it’s just an extensively painful lull in what is ultimately the biggest bull market we’ve ever seen, only time will tell.
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