Many cryptocurrency investors might have bought in during the Bull run of late December last year to early February this year. As a result, they purchased their investments when some digital assets were at their all time high. In the case of XRP, the digital asset peaked at $3.82 back in January. The digital asset is currently valued at $0.255 indicating a massive drop of 93.3% in 9 months.
Frustrated XRP Hodlers
It is with this fact that many XRP HODLer are taking to twitter to voice their frustrations due to a bear market, and having their investments decline in value considerably.
One such user tweeted as follows:
F*CK IT I AM GIVING AWAY ALL MY XRP THE MARKET IS F*CKED I LOST IT ALL ! WHO EVER WANTS MY REMAINING XRP WHICH IS 22 000 RETWEET THE FUCK OUT OF THIS.
Another XRP hodler would debunk the theory that XRP would never make it to a higher value of $569:
I dont understand why its IMPOSSIBLE. Does xrp need to physically climb a mountain or go to mars (8 months journey) to reach this figure? Whats holding it back? Whats restricting it? Dont say silly things.. Anyways $589+ eoy 2018 or not shouldnt be your main focus.
The twitter user was replying to the tweet below:
Please be rational and don’t speculate for $589 by the hype that based on NOTHING! https://t.co/UXnWaQK2h9
— PandaRippleXRP🐼 (@RipplePandaXRP) September 11, 2018
Stellar (XLM) A Better Option?
Sellar price is closing in on XRP! Must be all those partners and use cases…
Amazon has Crashed Several Times Before Being Valued at $1 Trillion
In a recent tweet, Anthony Pompliano, Founder and Partner at Morgan Creek, reminded the crypto community that Amazon’s stock price has crashed on 4 occasions, but the company is now currently valued at over $1 Trillion.
Amazon’s largest stock price declines:
-57% from Apr ’99 to Aug ’99
-94% from Dec ’99 to Sept ’01
-56% from Oct ’03 to Aug ’06
-60% from Dec ’07 to Nov ’08
Those with conviction & patience can withstand great volatility. Crypto is no different.
In conclusion, the current bear market can indeed cause a few HODLers to completely cash out. But Anthony Pompliano makes an effort to remind us that the road to an asset becoming valuable is not as easy or quick as many crypto HODLers want it to be. It is all about perseverance and believing in the underlying company (in the case of Amazon) or technology (in the case of cryptocurrencies).
What do you think about this current bear market? Are the crypto markets going through a massive correction after an inorganic increment last December? Shall we see a $20k Bitcoin soon? Please share your thoughts in the comment section below.
Disclaimer: This article is not meant to give financial advice. Any opinion herein should be taken as is. Please carry out your own research before investing in any of the numerous cryptocurrencies available.
[Image courtesy of TheEntrepreneursSource.com]