How to treat a market crash
26th April 2021 |
I won’t beat around the bush today.
Last week was terrifying.
In fact, if you’re new to crypto markets, what we’ve seen over the last week and a half to two weeks can put the fear of God into you.
I’m here to reassure you this is an annoying and difficult part of the crypto markets.
In over a decade in these markets, I’ve seen this happen a lot. It’s not uncommon.
It’s also not that bad when you have perspective, and can take a step back from the fear and uncertainty.
That’s why today, rather than just write to you about it all, I want to speak to you directly.
I believe that when you hear it from me rather than read it from me, you’ll understand why I’m not worried about it.
Indeed, if anything, I’m excited by the opportunity it creates.
Therefore, if you will lend me just 13 minutes of your time, I’d like to explain what’s happened in the market over the last week or so – and why you shouldn’t be worried about it. Just click here to watch or click on the video below.
Thanks for your time.
New “Crypto to Know”
One last thing, even though the crypto markets have been in a state of turmoil over the last week, it’s important that you never stop learning about new cryptos and their roles in the crypto revolution.
Therefore, I’m adding another name to the “Crypto to Know” list…
Cosmos Network (ATOM)
Cosmos Network is aiming to become the (self-proclaimed) “internet of blockchains”.
That’s a fancy way of saying they will connect and link different blockchains together.
When I first started out in the crypto world, it really consisted of just bitcoin. Then, not long after, several other cryptos emerged. They were forks of bitcoin, using its code – and usually changing it to try and build something different or better. Sometimes, they were just straight-out copies of bitcoin.
Over time, other cryptos were launched, with a similar foundation of blockchain technology underpinning them. These were then copied, expanded on, built on. And then even more cryptos came to the party.
What once was a solitary crypto has now become an ecosystem of thousands of cryptos.
Some share blockchains. Others have their own unique blockchains, with cryptocurrencies attached.
The key problem is this: with so many different blockchains, how on earth are we supposed to manage an efficient, effective decentralised global financial and data network?
It looks impossible.
That’s where Cosmos comes into play. Its vision is to build a network that allows blockchain interoperability – that is the ability for different blockchains to “speak” to each other and interact with each other efficiently.
Cosmos could become the primary connecting fibre that unifies all the different blockchains that are in existence now and in the future.
The potential and power of that is enormous.
- How great is the potential?
- How has Cosmos developed over the years?
- What is Cosmos’ team focusing on now?
- How will the plans be turned into reality?
Together, these questions make Cosmos a prime candidate to add to our list of “Crypto to Know”, in my view.
You can find more resources on Cosmos here at its main website.
I suggest starting at the beginning with simply “What is Cosmos?” and working your way through all the learning materials.
Crypto to Know
Below is our “Crypto to Know” list where you’ll find several cryptos that we think you should be taking the time to learn and understand.
They each form an important part of the burgeoning crypto ecosystem.
Several of these cryptos are doing very different things to others.
What you really need to understand is that every crypto has its own use cases, its own guiding principles, and its own particular potential.
Each crypto is to be judged and assessed on its own merits.
Our aim here is to help you understand these different cryptos and the wider crypto ecosystem.
We aren’t making specific recommendations here. Instead, we are offering a guide to help you to learn and to build your confidence in operating in this space.
We will add more names to this list over time. However, if you’re new to the world of crypto, these are the names where we think you should start your education and learning.
We’ve also added links to each name.
The links are to what we believe, in each case, is the best resource for learning about that crypto.
“Crypto to Know” watchlist
- Bitcoin – bitcoin.it/wiki/Main_Page
- Ethereum – ethereum.org/en/what-is-ethereum
- IOTA – docs.iota.org
- Tezos – tezos.com/get-started
- Uniswap & 1inch – uniswap.org/faq & help.1inch.exchange/en
- Filecoin – docs.filecoin.io
- Cosmos – https://v1.cosmos.network/intro
Regards,
Sam Volkering
Editor, Sam Volkering’s Crypto Network
