Don’t Panic

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As I write this, the crypto market is down 50% or so from the top.

There are conspiracy theories everywhere, ranging from whales taking advantage of the futures market (I don’t buy it), to Wall Street depressing the price for a buy in, and others.

The first point I’d like to make is that while this correction is large, it puts us back to where we were in mid-November.  Several months ago, I predicted Bitcoin 10,000 by 2018, and had I gone to sleep and woken up this morning I would have considered the current price a huge plus.

The second point I’d like to make is that there is absolutely nothing that has changed in the fundamentals or the market which would cause me to change my outlook…except that coins that were always crap are now on their way out:  Bitconnect, Tron, possibly Ripple.

At the moment, I haven’t sold a penny, and I am advising family members to buy in with whatever they can afford to lose (Important!).  The forums are already riddled with people who took out loans to buy at the top.  Don’t do this.

I am very comfortable buying in right now if I had any money on the sidelines, and I would focus on quality coins with a solid team: Bitcoin, Ethereum, Civic, OMG, ZRX, those are my favorites.

Or just take a break and go chill for a while somewhere.  This will all be forgotten in a month or two.

History:

bitcoin history.jpg

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Jeremy Tunnell

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By Jeremy Tunnell

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I am a startup founder, investor, mentor, and zouk dancer.
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