The cryptography community is in shambles. Those who have been holding bitcoin for a while are unconcerned by the market and are still buying DCAs, but traders and investors who don’t plan to keep their coins for very long are getting nervous. During the last quarter, when the cryptocurrency market lost over 60% of its value, many traders lost their entire holdings by leveraging bullish positions.
Don’t even think about selling your Bitcoins right now if you bought them this winter when they hit an all-time high. If you are experiencing financial difficulties and need cash, your only option is to sell some of your assets. However, if you can survive without the BTC you have invested, selling now would not be a wise decision.
Many bitcoin exchanges
do not anticipate a reversal of the trend within the next 18 months, as indicated by the recent CNBC interview with Charles Armstrong, CEO of Coinbase. These companies are preparing for a very long and arduous crypto winter, which could significantly reduce the potential earnings of crypto enthusiasts and BTC holders.
Experts do not anticipate BTC to lose more than 20% of its current value, so you can hold your coins (if your positions are not leveraged) and sell them after the market recovers in two years. Although it is not the optimal solution, it is a good way to recover the value lost due to the overall economic downturn.
Due to the economic downturn and limited investment opportunities, it is highly questionable to liquidate your crypto assets to diversify into other domains. We currently lack a dependable investment destination. Real estate, gold, and other traditional securities do not appear to be more efficient and secure than crypto giants such as Bitcoin and Ethereum.
Now is the worst time to sell your coins, so fasten your seatbelt and prepare for a very long, bumpy ride. Whether you like it or not, you will spend at least two years among hodlers.