1. Reevaluate your view of crypto.
2. Xanax
It’s even more likely that it will take quite some time for cryptoassets to reach their all-time highs again.
Even today I’d argue that almost all assets are overvalued given their current utility.
1. This technology doesn’t scale yet: look at Bitcoin Tx fees, Cryptokitties’ impact on the Ethereum network, and don’t start talking about other blockchains because hardly anyone is using them. Furthermore, “Scalability solutions” really aren’t live yet besides SegWit (lol.)
2. Despite immense potential, very few actual blockchain use cases are in production yet. Until actual deployment of blockchain technology necessitates the use of native cryptoassets, their value is derived almost entirely from speculation. On that note...
3... while speculation isn’t inherently bad for the market (any of us who invested are speculating,) what *IS* bad is the inflow of dumb money. That sort of money causes crashes and is what we saw a month ago. The lack of investor education is astounding. Ignorance is rife.
The key is to just appreciate the nascency of your investment.
The price today is solely a reflection of sentiment— not technology advancement or failure.
Follow the tech, not the prices, and don’t actually take Xanax 😂