Reminder: You only lose when you sell. In crypto, holders win.
The value of any asset goes up or down based on what the market wants for it.
Crypto is extremely volatile, always has been. It's still a new form of currency and asset.
NFTs are controversial. People who like memecoins, sometimes don't like NFTs. People make bad trading decisions and respond to emotions. It snowballs. This is the process by which the people who leave their emotions at the door become the people who say too-soon sellers "get wrecked.
If you're freaking out and determined to take your loss and eat it, remember to take that loss at a tax advantage. In America, just mark on your calendar when the calendar year is close, and harvest your losses then. If you are unsure about taking profits, wait over a year, because that's when (in America) you reduce your tax burden on your gains.
Just as quickly and explosively as things go down, they rocket right back up again. That's crypto. Be cool. Be calm. Focus on fundamental values of assets, like the core community and the utility. In crypto there are only two appropriate reactions to a downturn: hold, or buy the dip. Everything else loses money and ultimately wrecks you.
If you're investing what you need to live on, then you need a better job and financial counseling, because you shouldn't be doing that even in relatively "safer/lower-risk" asset classes like stocks or bonds!
The kendu chads valuation game has not changed. No other NFT market offers a cut of revenue to holders and early adopters. Even small pieces of OpenSea's market creates good revenue. So, grab a few chads for cheap if you're getting nervous, and walk away from the charts for a while. Wait for that passive income to hit, because you will get offers for your chads, and the kendu core coin will value up at that time.
Stay frosty calm, out there!
Posted Aug 21, 2024, 12:59 PM UTC