Many cryptocurrency project might not survive this fall
It is so painful that after putting such a great effort into your cryptocurrency project you now found out that just because of some certain circumstances the project collapse as it is no more. We all knows there is no thing worse than that. It is a painful experience that might affect you in all ways. Imagine sacrificing your attention, money and time and found out that the dip kills it. You simply will be short of words and you will be confused to the extent that you might wants to do something worse to yourself. Assuming it crashes on it own it might have not be bad. The moment you knows it is because of the current market crash, that can cause you a lot of painful moment.
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I have heard about cryptocurrency owners taking their lives when their investment take a twist. When ever I heard such news I am not really happy. This is simply because I believe they are more inclined than us. With such mentality that they have gained, they should have known that when it comes to cryptocurrency and their project, anything can eventually happened The bad thing about cryptocurrency is that the moment investor sees that there is dip, they might be forced to make emergency withdrawal. When this is done it will affect that cryptocurrency project bitterly. This is where things always goes bad for the cryptocurrency project owner and if care is not taken he/she might do something worse.
I have always advised that irrespective of who you are, being a developer, cryptocurrency project owner or an investor, you should knows that live in the cryptocurrency world is 50/50, you will never be told when there will be bull or when there will be dip. You should be prepared all the time. I know it is not easy but I believe that this is what we all should be doing. We need to be very focus all the time if not it might be a very bad one for us. This is the simple reason why when people are hit by the some dip they might never bounce back. It is really a painful experience.
We all depend on each other when it comes to cryptocurrency. If there is no developer/programmer cryptocurrency won't be possible and if there is no cryptocurrency project, cryptocurrency won't be possible too. We are all dependent just like what I said above. This is the core reason why if there is no cryptocurrency project, many people will go out of cryptocurrency. This is why once their is any project suffering, it is a pain for ever body that invested in that cryptocurrency project. We all can see that Luna is a popular example.
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During the 2017 cryptocurrency dip we all knows what happened to many cryptocurrency project. Many got affected and they crashed. This was really not something new any more. If your project is not strong right at this moment you will see the worse. Project like whaleshare and lots more have crashed and many more will go down the drain unless this dip revert itself positively. I don't want project to get hit but we don't have a choice. Take a look at the prices of so many coins, they have dropped badly from their All time high (ATH) to something unbelievable. If the cryptocurrency market keeps going on like this it might be a big disaster.
My wish is to see the market revert fastly, I am really tired of what I am seeing currently. The fall is unpredictable and because of that singular act many project have been affected badly. Many won't be bouncing back after bull run eventually starts. It is painful but that is the truth and it is better you knows that right now. For sure, many won't resurrect after this fall. Whatsoever that happened I will always get is updated.
Tfame3865
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Speaking about the fall, the dip is really dip🥺
Really dip
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Dip is delicious.
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shake out the weak projects and settle down to the core Cryptos that have longevity and real utility !
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You make it sound interesting and true putting it like this.
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this is the type of market that really shines a light on which projects have an actual sustainable use case. If you can survive this market, your project is probably either really strong or really lucky.
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Those two options still go hand in hand even when strong, the team behind need to know what they are doing. I agree that these times justifies who would remain.
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Or has a big investor.
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Do you belive HIVE is one of the ones to survive?
(I do)
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I absolutely agree with you, at a time like this, it's only inevitable.
Many would fall.
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Although I am affected in ways major, I fill myself with splinterlands fun time and don't want to keep the price on the mind, my rent has expired and the crypto I have before could solve that but not anymore, it's is likely to keep my heart on my hands but I will put all that into my gaming and sleep over it.
The fall a few days ago looks like a bad dream but it's not the end of the world and I will make it.
Moreover, i know it was going to be like this because for the past 3 years June as always have a big deep and now along with the bear market we just got to face the worst a hold tightly on the bumpy ride.
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Its really sad for people to take their lives, I just wish I understand more about how a token fall can make a token totally crash out of the market.
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They are many things behind the close doors.
To see what can make a token crash you have to learn how each individual token works.
You can find that information in the white paper.
If you pay attention to leofinance,for example, you can spot some weak spots.
its centralized, so, if the center group of core group were to suddenly stop working on the project, the token price would crash
leofinance is building value through different projects, but if one of the projects they launch has a weak spot (a way to have it lose value by overuse for example) then value can be siphoned away from the token price.
I happen to be ok with investing my time into this group of developers, and I happen to think its ok to invest in a project that is bent on building more projects.
I was simply using it as an example to illustrate how to find weak spots in projects, and therefore understand why a token can go to zero.
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It's a natural part of the free market economy for the weak projects to fall by the wayside during a dip; after all, a project has to be profitable in a bull market and a bear market - otherwise, it's just on borrowed time. As for people's mental health in a bear market, I have to follow the "never fly what you can't afford to replace." mentality; it's kept me sane - I can afford to lose everything I have invested in crypto. I've seen massive gains and losses in the last five years, but I'm okay. It's all a learning experience. Thanks for your post.
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I really love the last part where you say is all learning process. Thanks for such wonderful comment.
Thanks. As part of my philosophy for my life, learning for me is a constant enjoyment; it drives me and keeps me moving. I also enjoy teaching, teaching adults anyway, but I am not sure I have the patience to teach children. If I'm not acquiring new knowledge and passing it on to the next generation, I'm just being carried downstream.
I think its ok that crypto projects fail.
In the fiat world businesses fail all the time, we just kind of see it as part of life, restaurants will go belly up, Etsy Shops will see that its too much work to keep going, big chain stores will lose out to amazon.
Its part of the change. Some businesses, and crypto projects have to fail.
I believe in HIVE and the ability to be one of the ones that keeps going.
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Your title is very true. We all need to careful place our bets in projects which will survive and thrive in the bear cycle
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