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Spot the differences

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pardinus
@pardinus
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2 min read

Funny how some experience makes you have different perspectives. I have friends new to cryptos sending me messages like "doesn't it ever stop falling???"; after just seeing green for a few weeks, huge drops are even scarier for newcomers! I do remember being in that spot, but not that much nowadays. So after all the craziness and FUD of the last days, decided to do a market scan, now that the week is coming to an end; but in a long term vision:

Big, scary weekly candles on BTC! But... can you spot any differences with ETH, for instance?

Or even with RUNE?

Differences? No. Everything bleeding. Huge drops... to weekly support levels!

Are these weekly candles bearish? Maybe. But thinking long term: most cryptos dropped to important support levels. We sometimes complain that we missed the train, that coin has gone up xxx%, too late to enter now, etc. And yet, sometimes you have second chances! BTC at 30k? ETH sub 2k? Even AVA, one of my favourites, at 2,4$??

Can the market continue to bleed? Absolutely.

Could it hold its support and start another glorious climb? Absolutely too.

If you're thinking long term... does it really matter if you bought ETH at 2K or 1,8k when it shoots past 5k? Will it hurt your pocket if you bought RUNE at 8$, and it drops to 5$, to then go past 20$ in a few months?

Dollar cost averaging your position will let you enter the train step by step again. Don't go all in. And if the market drops to an even lower support level... add to the position! Cryptos withstood a huge test on these last months: I remember reading people questioning if BTC would survive that huge crash last year. And after a crash, a worldwide pandemic... we see BTC standing strong, and over 2 trillion dollares in the crypto markets. Do we need more proof that cryptos are here to stay?

Applying my ideas to our little ecossystem: CUB less than 1$? LEO at 0,7 Hive? Golden opportunities!!

My orders are in place. Will I be hodling and suffering for a few more months? Maybe. But the chances of being happy with my buying decisions in a few more months/years? HUGE! ;)

And you? What are your thoughts in the current market? Feel free to share your ideas!

Still haven't joined Splinterlands? In what planet do you live in? Click the banner below and join the fun! (It has my referral link; you can go directly to the website if you don't want to use it; either way... join in! 😎 )

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