Crypto Chaos

Ethereum is dropping and people are getting worried, my main concern is - have the "poor" (I'm including myself in this category so no one get offended) been duped into investing at a time when companies and the rich have made their money and are looking to exit if they already haven't.

*Disclaimer -there is in no way any endorsement of investing or selling here so please do not make financial decisions based on what I have said they are simply expressions by a concerned onlooker/investor.

I've heard both sides of the argument that there's been trends and these things happen with dips and it will bounce back and then there are the conspiracy theories that companies and the rich whilst things were anonymous made their money and have or are looking to sell now whilst the poor are encouraged to get involved now with a market that might not emerge on the scale some have hyped it to reach.

Throw in a slang word that people will cling to "HODL" a term if you're not familiar with that means you should hold the currency until it bounces back and people are hooked. There are YouTube video's encouraging people "the first best time to get into crypto currency was when it came out but the next best time is now!"

Whether this is true or not remains to be seen, I personally haven't invested that much and with all investments haven't put in anything I'm not prepared to lose. When I first looked at Ethereum it looked attractive at £355 but making money every now and then, now it is down to £155 it is even more attractive to buy but there is the question of how low it will dip.

I know there are people more technically gifted to tell how many coins are being sold so they can tell if there's a mass self off but I am not too technical so am staying with the small investments I have and will sell at a better time. When people get involved it should be viewed as a long term project rather than short because as some will see things have changed drastically so there would be no need to sell at a loss, but as they say HODL until you get your initial investment or more.

As for people trying to find ISO's to invest in be very cautious a lot of companies are dodgy and seem to have legitimate sites and they all promise they are the next best thing because ... there are apps and sites that are supposed to filter out scammers and advise but they are never 100% so be prepared to potentially lose investments.

Always keep your assets safe there are companies that are known to be "safe" Coinbase, Binance, Ethos wallet and to trade/store. I believe Ethos has a proper password for their wallet once you create it which is a series of words that only you should know by writing it down and storing it safely as a back up if they are ever hacked or if you are. I am in no way paid or endorsing Ethos I wish someone would pay me for my reviews lol but I need the votes here first.

If you've liked what you've read please comment or support with a vote, all feedback positive or negative is welcome but just don't be offensive. I know there are people doing a lot more in depth looks at things but as mentioned above I am in the average/poor investor category looking to make a few £'s like the majority.