Value of News in Cryptocurrency....
I suppose if you are reading this, you are aware about the recent incidents happening in crypto. Portfolios going nuts, people panicking, crypto plummeting and even there are news about people committing suicide due to the LUNA's recent price crash. The unpredictable crypto market has finally revealed its true form and that even in a bear market.
Needless to say, this incident of Luna has made a huge juggle in people/traders/investors/critiques minds about crypto. People are having different thoughts about crypto and some people (outside of crypto) are taking the full advantage of the situation and making things worse than they actually are. Yes, one of the top coin literally went close to null within hours. The market cap went nuts, people lost their money, many families probably lost their food, some lives were lost. But it is what it is! Crypto market is indeed an ocean, where some people will get lost and some will rise with more than they have. Which is why lets not make hasty decisions and ruin our life.
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News
This is when and where you make the real money! The faster you get a news, the faster you can protect/make your money. I probably have mentioned in my previous posts, about how a simple tweet from a influential entity can change the course of a coin in a crypto market!
The recent Luna incident, took us all by surprise but even amidst this situation many people were able to make money and that even in a huge amount. I was able to witness some people were able to recover their other losses from this Luna trade. It might surprise many out in here but this have happened. My main point out in here is the faster you get a news the faster you can make money. An example is shared below :
Panic started here:
Since the price started to crash for LUNA & UST Binance became the key point in making sure it goes down the gutter even more. Not blaming Binance as they have users and funds to protect but this news lead to users panic even more and sell off their assets or move their funds as fast as possible.
Exactly after couple f hours CZ's Tweet made the users see some light for their holdings. I was among those who held both Luna & UST in Binance. My assets went literally to zero and I was feeling like a moron and cursing myself to get into this pairs. Since his tweet made things right for now, I was expecting a little more than I could ask for.
Since I was in loss, I wanted to average my buying. But even after all this there was a doubt in my mind about whether I should get in on with more money or should I leave it here and let the market play its course. But later that morning, I heard about the news of LUNA might get a substantial amount of burning from its circulation, it triggered my buy zone and I got in on LUNA. And due to this news I was able to recover my loss from Luna & UST.
This is what happens when you can focus upon genuine news and from genuine sources. If used wisely, you might end up earning money! While still Luna condition is quite severe and I am not really willing to put any additional money even if I get any other authentic news, as it is going through a tough phase and more importantly "I Love my money"!
So what's next? Nobody knows tbh! You may as well just go with the flow and keep on digging to cover your loss! Whilst this might be a grave chance, to get into some coins and hodl them for long term. In fact I am trying to get in on some of them! Let's see how that eventually turns out!
Let me know if you have any coin in mind!
Images shared from Twitter
