Bitcoin price slumps further as China tightens crackdown
theguardian.com
theguardian.com
The crypto fanatics and the "to the m0on" crowd are still quiet today because they are still hodling at >$55k - $60k and are begging Elon Musk and friends to rocket their favourite shitcoin to the moon via Twitter.
This is why when the whole cryptocurrency market crashed earlier, they were not screaming for the moon anymore, they were baghodling for dear life (again).
Almost all of these cryptocurrencies have been down since January and it hasn't recovered to those higher levels ever since.
True. But it is also true that many of these cryptocurrencies are still worth more than they were in January last year, or January the year before even with a 50% decrease from their highest point.
Unless you have bought and held a huge number of coins or received a huge sum from an airdrop from the very start (and the value became worth more than >$1M+ worth of coins.) That is fine and exiting a large sum from the market during the euphoria is also fine.
For newcomers to keep hodling like that (especially in bull runs) for the large market cap coins, it does not work, which is what I'm arguing against.