Copium inbound: remember that strangers on the internet don’t know your personal situation

Anyone with eyes and a phone sees that the market is down bigly over the last week and the economy is in a precarious state. This is quite a flip in sentiment from just 1 month ago when interest rates were raised by 0.25 and BTC was sitting at 22-24k. There were multiple, well though out and laid out posts with TA detailing why the bottom was in and how things aligned up with the traditional 4 year cycle. People were getting hopeful again and then- BAM.

Now we’re seeing the “this dip is actually good because X” posts or “these are the prices you wished to buy Y at” posts encouraging people to buy more. Truth is, it’s really fucking hard to buy a risky asset in the face of economic uncertainty. It’s perfectly okay for people to not be “loading their bags” right now especially if they’re at risk of losing their job or are struggling in this economic climate. No one truly knows how long the downturn will last and crypto is in uncharted waters from a global economy standpoint. The 4 year cycle may not hold true this go around. Ultimately do what’s best for you and your family in this time and if that means reducing exposure to crypto, that’s okay. It will be here for years to come.

TL:DR- don’t catch FOMO from posters who claim this is such a great opportunity if you’re struggling right now. They don’t know your situation and there’s no guarantee things play out how others are expecting. We’re just armchair analysts posting on a message board.