Cryptocurrencies

The Sky Isn’t Falling (For Investors)

Do

Do take your money out of Tether. Then sit yourself down and try to explain why you had it there in the first place.? How many warnings do you need?

Do

Move your funds from Bitfinex. What were they doing there in the first place? Again, how many shots across the bow do you need?


Don’t

Do not run ahead like a headless chicken ‘screaming the sky is falling’ because Tether of all things may be in trouble.


Don’t

Pay Attention to this kind of Sensationalist Nonsense:

Bitcoin In Death Throes? Tether Comes Under Fire


https://ethereumworldnews.com/bitcoin-5200-tether-news-traders-flee-bitfinex/

Hint…the headline was clickbait.

If you are an experienced day trader, by all means, sell a position here and there to re-buy lower. Or indeed, short the rallies.

If not – sit tight.

If you feel uncomfortable doing that revisit your investments and your thesis behind each one.

For example – BTC – shot at making realistic gains as a store of value.

Long-term impact of Bitfinex/Tether on BTC ? = No impact


Another example – EOS

EOS – shot at becoming one of the ‘go to’ protocols for dApp development

Long-term impact of Bitfinex/Tether on EOS ? = No impact

Short-term the run-up in value in anticipation of June 1st may be diminished or even fail to occur. (I see no evidence of that yet – looking to add EOS on further substantial dips (0.000691 BTC don’t expect to be filled – opportunistic order).


Follow the same process for each investment.

If you find on reasoned reflection that one of your investments realistically can’t weather a Tether or other general crypto negative event – sell it.


What does the BTC chart say?


https://coinmarketcap.com/currencies/bitcoin/

It says sentiment remains bullish in my opinion. The next few days will be telling as an indicator of short-term market sentiment – but that is all. So, by all means, stay up to date on the Bitfinex/Tether saga but try not to buy the headlines.

Relevant news:


Interesting Perspective:

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