The Sky is Falling!

When the crypto markets fall, it can be scary.

It will turn your stomach.

But this is the essence of HODL.

When we play in 24/7 markets, where there are no protections, this is just part of it.

The thing I wonder, is if this is being driven by something legitimate that someone just hasn't written a news story about? Or is this just blind panic?

Blind panic is okay. That clears up.

But what might not clear up right away is a regulatory scare.

At this time, though, it's not clear which it is.

I heard the new tax plan passed, which might mean that since we don't get the "like-kind" exemption while trading, that now people are going to be more averse to day trading crypto.

So maybe that's it.

Or maybe this is nothing?

The market cap is currently hovering around $480B. I think this could go all the way down in the 200's, which means a 5-6k bitcoin for a while, while people regain their confidence.

Before now, I'm not sure the traditional finance world really took bitcoin seriously. But now it does. Now it's a threat, and maybe the war is just beginning.