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Has Crypto Reached The Bottom?

As of this writing, Bitcoin is at 19K, Ethereum is at 1.2K and Cardano is at 39 cents. These are very low price levels that have not been seen in years. Should we now panic and sell all our crypto as it will only get worse? Or is now the time to buy because the price levels are so low?

Sell all or buy now?

Sell all or buy now? This is a common question that happens during bear runs. For today, all economic indicators show that it is most likely that the bear market we are seeing will go even lower over the next few months. This is a general trend which covers all financial instruments and not just crypto. So, while no one can tell with absolute certainty whether the market will go up or down, it is highly likely that we will see a further downturn in the long run.

What should you do then as an investor? Each person’s financial circumstance is unique so you should do what best applies to your situation. In general however, if you already have savings worth at least 6 months of your income and you have other sources of income, the most practical action is to stay the course and DCA (Dollar Cost Average). This means you set aside a small amount of your income for investment. How much this is depends on you. A good level for crypto is not more than 10% of your remaining income after expenses. Again, this is not financial advise. You should check your own circumstances and adjust accordingly.

I’d like to close this short article with a positive message. Don’t be sad by the current market downturn. The market cannot go down indefinitely. Each bear run will eventually be followed by a bull run. This is historically true no matter what the cause of the bear run be it war, famine, housing crisis or other disasters. Stay invested and the markets will eventually turn positive. If you are invested in a proof of stake blockchain like Cardano, you are in an even better situation as you get interest via your rewards each epoch despite the current market downturn. The sun will rise again after this storm. Good luck!

In other news, WISH Pool recently minted its 500th block! We are very thankful to all our delegators who have helped us reach this milestone. Thank you for staying with us through thick and thin as we continue supporting educational charities and the Cardano community. We continue to build during this bear run with a new script to calculate leaderlogs using the native Cardano executables set to be published soon.

In the meantime, we continue to support educational charities with our latest donation to Children’s Wishing Well

October 2022 Donation

WISH Pool is the creator of Cardano SPOT Check, an online resource for Cardano Stake Pool Operators for maintaining their nodes. We are part of the Ardana ISPO and were a recipient of the IOG delegation in 2021 and the Cardano Foundation delegation in 2022. If you like this article, we greatly appreciate if you will delegate your ADA to WISH Pool. You will be earning interest rewards while helping the lives of disadvantaged children. This is because we pledge to give at least 10% of our own profit to educational charities so that successful students can help get their families out of poverty. Let’s help grow the community together!


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