Crypto is here to stay, do not panic

[Sayeds56]

"Crypto" is not here to stay. There are thousands of coins, and new get created every day, does the world need all of them? Can you imagine all of them being actively used? Or why would an average person have hundreds of different wallets and keep track of all the balances? In the long run there will be one dominating coin for each use case, and maybe a few alternatives existing just in case. The rest are completely unneeded. So, an average crypto investors who looks for "good projects" will find their porfolio shrink in the long run.

You are absolutely right that eventually only coins having good usability  will survive and rest of all will disappear from crypto space. There are hundreds of copins created to steal money of new comers in crypto industry. Probably Top 10 coins of cryptomarketcap are worth investing because they have good use case.

[lienfaye]

For the very fact that bitcoin had been in existence since 2009, I have no doubt to fear it's gonna crash, even thou it rise and fall to almost half it's current price, I will still keep on buying and selling of bitcoin.

I like the positivity and that's we actually need during this time wherein most coins are declining in price. Crypto is here to stay but this is only for those that has utility (particularly bitcoin and other major coins) and can solve real problem. So even the market is in bearish, it doesnt mean crypto will die like what panic sellers are thinking, but it takes time to recover.

The history might repeat itself thus take this bearish market as an opportunity to fill your bags before we head towards to another bullish season.

[pooya87]

Probably Top 10 coins of cryptomarketcap are worth investing because they have good use case.

This is a common mistake among newcomers who think just because a bunch of altcoins are on top of a list using an arbitrary ranking system that used a fake variable to sort them, they think it means these coins are "good to invest". The fact is that most of these so called "top 10" altcoins are among the worst coins that have ever been created.
#2 ETH -> centralized, premined, mutable blockchain, insecure, too expensive due to lack of scalability, filled with bugs
#3 USDT -> centralized, premined, mutable blockchain, in secure, too risky to trust, shady
#4 BNB -> centralized, premined, in full control of an exchange!, too risky to trust
#5 ADA -> semi centralized, premined, basically is the same as ETH and is just as useless
#6 XRP -> centralized, premined, mutable blockchain, shady
#7 DOGE -> a joke coin!
#8 USDC -> poor version of USDT
#9 DOT -> centralized, massive supply which I believe was premined, no real world utility
#10 BUSD -> poor version of USDT but controlled by another company

[EYC_ONE]

Bitcoin is banned in all the countries they are dheme? Don't stop. It will continue. If you notice how many people walk the path with faith in Bitcoin every day. Then your ideas will change. I once saw in someone's post that Bitcoin is banned in his country. He uses it. So how can it be stopped. It is not possible.

I think this discussion topic should be locked here without any questions or answers and important posts.

[beertoll]

- "..since the bear market is just transitory..."
- "Yes, bitcoin is indeed here to stay..."
No one knows that. There are myriad reasons that can affect the price and are absolutely not related to fundamentals. Any large organization (or a group of organizations, e/g. banks) or government or prominent people can significantly affect the price, both positively or negatively. And there are many reasons that may completely eradicate digital currency.


- "We had a bear market like this in March of last year,..."
Past performance is no guarantee of future results. This is true for traditional investments and even more so for cryptocurrencies.


- "For the very fact that bitcoin had been in existence since 2009..."
10 years is a minuscule period of time to make any type of predictions.


- "True investors hodl their coin."
True investors diversify and don't put all their faith in one asset.

[Kimberl2020]

Crypto is here to stay

Cryptography and cryptocurrency as technology will remain.
Bitcoin as the only decentralized currency will stay.
But altcoins aren't.
Almost all the altcoins we know today specially the "top" altcoins are going to die between 5 to 10 years from now.

china have banned crypto up to 5 times
BTC have died too many times before

Both statements are wrong. China has never banned bitcoin and bitcoin has never died. Millions of posts on the internet claiming otherwise doesn't make it right.

You are right, China legally recognizes Bitcoin as an asset. China has not banned it.
The media uses this to create panic again and again.
The wisest thing to do is to ignore it.
I know it's difficult to do, especially when my friends are discussing it.

[CryptopreneurBrainboss]

There are hundreds of copins created to steal money of new comers in crypto industry. Probably Top 10 coins of cryptomarketcap are worth investing because they have good use case.

Actually excluding bitcoin, majority of the time, the top coins are those ones that have successfully stolen investors money. Majority get there by hype and aren't going to stay that long as sooner or later they disappear just like bitconnect and others. The next coin coming into that rating is Solana, just as dot was hype so is the coin getting hype and when you drive in you'll realize there isn't anything that special about most of the top coins. There are just an inferior version of Bitcoin or more centralized version of Ethereum.

You shouldn't based your investment strategy just on coin in top position, if you're after the profit then the lower market cap project will increase your chances since they haven't not been hyped and ready to dump by their founder and early investors since that's the trend of the day. There's a risk to his though that you should know, since this project have low capitalization they can easily be manipulated or forgotten as new projects with more hype come into the market.

[MIner1448]

Perhaps you are right, but now for a month you can observe a bear market on the market due to such unrest in different countries about the prohibition of cryptocurrency, or maybe we have already entered the crypto winter, I really would not want to think about it, such a market not very attractive to many, especially new users or investors. We all expect a bullish rise in all coins, but something is not happening ...

[NFTGate]

The crypto is volatile and it will keep moving sharply. There is no need to worry or panic. We will see the social transformation within a decade and countries will start regulating this market instead of banning it.

[onecall123]

Perhaps you are right, but now for a month you can observe a bear market on the market due to such unrest in different countries about the prohibition of cryptocurrency, or maybe we have already entered the crypto winter, I really would not want to think about it, such a market not very attractive to many, especially new users or investors. We all expect a bullish rise in all coins, but something is not happening ...

Regardless of what happens, we are all making money through crypto. When you know how to make money during a bearish trend, you can take advantage of such markets.  You should not push yourself too hard in this market unless you are convinced and have good risk management in place. Bull run will be very beneficial when it resumes, but for now it is not necessary to consider it.