This year has been an excellent example of what a bearish market looks like for Cryptocurrencies. We have seen a steady decline in prices for every coin that is publicly listed. Typically during a bearish market there is a sense of panic and depression that is felt by holders. They tend to lose hope in the projects they have invested in, and in a lot of cases will even sell their investments at a loss.
However, this is all very normal and healthy for any type of marketplace. There must be a decline in order for there to be growth. You can think of it as a way to shake away the “weak hands”, or those who are incapable of standing up for the investments they originally believed in.
Panic is only natural, you don’t want to lose what you’ve put in. This is a very speculative marketplace though, and you must realize that your value as a holder will always fluctuate no matter how much you put in. You shouldn’t let this fluctuation distraught you, because it was of course an investment that you made.
If you were hoping to get rich by holding on to one of your investments for only a couple of months, you will not be very pleased with the outcome. It is rare for a new investor to make that type of return so quickly. That is why it is important to understand long-term growth and how to put yourself in a position for success.
If you want to be successful in this market and this vision for the future, you must remain calm. These are currencies that we are investing in, in order for mass adoption to occur, these currencies need to be held until they can be used to easily make transactions for goods and services. We are still in the infantile stages of the development of these currencies, so you can expect a lot of changes in the near future.
My advice: Continue to purchase the projects you believe in, and continue to hold on to them. Do not sell any of your investments, under any circumstances. You will be rewarded for your patience and beliefs in the future.