Three Reasons For The Crypto Crash

If you are familiar with the current happenings in the world right now, chances are you know that it’s not a good season for cryptocurrency investors and traders at the moment. And you might be wondering why. Well, below are the reasons:

1. China banned crypto market and around 70 miners from china.
2. Elon musk announced that Tesla has stopped accepting bitcoin.
3. Around 3-4 billion dollars liquidated in the crypto market…

Implications;

1. Someone will say this is the best time to invest in crypto; well the answer maybe No, not until you study the market and understand where it is going from here. I was surprised when alot of folks were rushing crypto, I knew something wasn’t right. Things like this you give it time…
2. Except you’re a high worth individual or an high flier that can risk alot and still be good even if you lose alot, not for those that are feeding from hands into mouth or those that will risk it all and want to die. Even the high fliers and the rich folks lose money and feel depressed talkless of “the………….”
3. Study and read on Defi(decentralized financing), crypto is just a small subset of the larger field of DEFI. When all these boys were making noise about the crypto I had to settle down to study this, well I had alot of discovery which made me alot conservative, observant though optimistic about it.

At the long run never invest in what you don’t understand and have full grasp of, I remember alot of folks were speaking to me about it “baba come do crypto” I smiled.
In my mind I was like let’s give these stuff sometime.

When you’re looking for fast money this is what happens, wealth is built line upon line and precepts upon precepts, never trust anything that looks too sweet.

© Stephen Fola