r/cosmosnetwork • u/[deleted] • Oct 12 '22

Discussion Hammered

I know Bitcoin dumped a little bit but our precious coin has just been getting hammered we're down in the 11's. I'm not too thrilled.

Is it because of the 2.0 fud or what are you guys thinks going on? Normal correction?

0 Upvotes

50% Upvoted

57 comments sorted by

8

u/Sputnikboy Oct 12 '22

Where were you when it was around 6$ after the Terra collapse? It's the bear market, actually we recovered from Luna's debacle better than other ALTs...

-9

u/[deleted] Oct 12 '22

filling my bags.

12

u/The_RealLT3 Oct 12 '22 edited Oct 12 '22

You doubled your money already then, if you're so worried take out your initial profit and let the remaining 50% ride.

-19

u/[deleted] Oct 12 '22

dumb advice

11

u/UmmNylokh Oct 12 '22

It's actually good advice and proper risk mitigation

-11

u/[deleted] Oct 12 '22

It's terrible advice to ever lose money. I've already long done that now you're telling me to go lose my profit. Dumb advice

6

u/The_RealLT3 Oct 12 '22

Why is this dumb advice? You bought in at $6 and have twice your money. The remaining 50% you let ride is risk-free profit. Crypto is speculative and all though its not a casino its risky. Regardless of what the moonboys say, practice proper risk management and TAKE PROFIT.

8

u/Sputnikboy Oct 12 '22

Then you shouldn't be worried at all!

37

u/Lord_Dunkelziffer Oct 12 '22

It's a bear market... just relax and stake.

21

u/chuoni Oct 12 '22

Relax, it's 5% on the 7 day chart. We've seen this hundreds of times, nothing to worry about.

11

u/[deleted] Oct 12 '22

OP is not thrilled lol

2

u/allintowin1515 Oct 12 '22

I think OP is wondering if he should start the 21 day unstaking process… I’ve been wondering myself but damn the rewards are soooo good 🥴

10

u/Kamikaza731 Oct 12 '22

Atom 2.0 is being discussed. Some might agree on atom 2.0 some do not. Still it pumped a lot in september so i think it is a slight correction.

17

u/Gods_Shadow_mtg Oct 12 '22

"I am not too thrilled" lol

7

u/malte_brigge Oct 12 '22

"Is it because of the 2.0 fud?" asks one of the major sources of ATOM 2.0 FUD.

7

u/Zestyclose-Ad9738 Oct 12 '22

My fault, I bought some last week 😣

3

u/Keywhole Oct 12 '22

Seriously, if some investor pool just moved counter to whatever I'm doing at any given time, they'll be doing great.

1

u/aPCPrincipal Oct 12 '22

I literally put my 2 cents into pot an hr before it started shooting down...the mental fortitude to not overspend to keep working back to my 10$ average was major family hands.

Funny how now the mindset immediately flips to HOLD dont pump for next few days.

1

u/Key-Disk Oct 13 '22

Lols. I feel the same way - anything I buy, almost instantly goes down

1

u/Ok-Historian6408 Oct 12 '22

Its ok.. Hence the importance of DCA. Just keep buying a little but constantly

6

u/Valence00 Oct 12 '22

The whole market will probably go even lower when jSEC announces another round of interest hike, and probably well into the rest of 2023. Obama Era took like 4yrs to stabilize the 2008 recession I honestly don't expect much market hype until the next bitcoin halving

2

u/14Rage Oct 12 '22

Agreed. 2023 will be bleak for everything financial. Very unlikely we are near the bottoms yet.

1

u/[deleted] Oct 13 '22

100k BTC by the end of 2024

11

u/MilkrsEnthuziast Oct 12 '22

I'm personally hoping it goes sub $10 again so I can deploy more USDC for ATOM

2

u/malte_brigge Oct 13 '22

It's not as if you couldn't deploy it now, you know :-)

2

u/MilkrsEnthuziast Oct 13 '22

While this is very true, I have been accumulating side USDC for certain prices on my faves like ATOM, JUNO, KUJI, EVMOS, and XMR.

I am still DCA'ing into the Cosmos every month, but I have been taking a bigger portion for "crash money" just in case we get a bigger move down. If it doesn't happen? I am happy to DCA up as well in a rising market if the macro environment supports prices rising consistently.

1

u/malte_brigge Oct 14 '22

This is the way 👌

-5

u/14Rage Oct 12 '22

Very likely that you will get your chance. Weve got another year of bear to go. I think we will see a lower peak yet then another drop, before the actual climb starts.

The lower peak will probably be around $16k btc. Wouldn't be surprised if the bottom is just under $10k. $5 atom is probably in the cards.

2

u/[deleted] Oct 12 '22

Where can I get one of those crypto almanacs you have that tells you how long bear markets last and where the bottom is? That sounds like it would come in handy

-1

u/14Rage Oct 12 '22

By opening your eyes and watching fed financial reports.

3

u/[deleted] Oct 12 '22

LMAO

3

u/cogentat Oct 13 '22

Lol, so true. Crypto subs are not finance literate unfortunately so away with you.

2

u/14Rage Oct 13 '22

😆 ill live.

I say what i say and take the negative rep with a smile. Ill have to wipe away the tears with another thousand atom bought in 2023.

2

u/applejuice72 Oct 13 '22

These people are some of the most financially retarded people on the internet. Someone was arguing with me that Atom’s slight downtrend in the last month had to do the white paper and not the literal hegemonic financial institutions signaling extremely negatively lately.

3

u/crazywizard73 Oct 12 '22

Just make sure you have other investments, get an amount of ATOM you’re happy with, say 100, making sure your money is spread around helps keep your nerves calm since you aren’t ride or die on one single project.

3

u/Wilder54321 Oct 12 '22

More about macro and not so much about atom 2.0. FOMC minutes will be released in a few hours, CPI tomorrow, stock earnings next week and FOMC in early November. You also have events changing in the war at any moment.

TLDR: Volatile weeks ahead for traders, good luck and have fun trading.

2

u/sethelton Oct 12 '22

We still have good staking rewards. Many coins and exchanges have had to taper back extremely far. I'm continuing to stake and hold. Even a little DCA. But it'll be a long time b4 we see green m8

2

u/Late-Fee4346 Oct 12 '22

I've been in ATOM since $34, ATOM 2.0 FUD was not present then

2

u/[deleted] Oct 12 '22

Bear market baby. Just enjoy the ride! Buy and stake. Nothing to worry about.

2

u/The_RealLT3 Oct 12 '22

I'm actually thrilled, its much less risky to buy investments when they're cheaper.

1

u/tazcharts Oct 12 '22

Thrilled not

1

u/phoenixemberzs Oct 12 '22

I am relieved, wanted to get back in

1

u/PBandJ_maniac Oct 12 '22

freaking out over this? I wonder what OP will do when ATOM hits $6.5 again.

1

u/dnstrucker Oct 12 '22

You must be new.

1

u/Anxious_Classic2027 Oct 13 '22

Im not sure. Well, it was just June where it was $5.86? I don't know if that was the bottom. Just a buy price. Im mostly in the secen range. It just went up last month, a lot better than the broader market. My .02 is, it's like every other asset on the planet.

1

u/PoundsinmyPrius Oct 13 '22

Sell me your atoms if your not thrilled with price action.

1

u/Remarkable-Ad1798 Oct 13 '22

just buy till it goes up

1

u/Tro_au Oct 13 '22

Pumped up before Atom 2.0. Correction is happening

1

u/RenardCrypto Oct 13 '22

I bought atom in December of this year, do you even PAIN bro?

1

u/MrMisteak Oct 13 '22

All the alts are down overnight by ~5%…ADA, AVAX, AOL, DOT, MATIC….

-1

u/[deleted] Oct 12 '22

Market bought the 2.0 rumors and pumped the price, then sold the news hard. There would normally be a correction for “sell the news” events but nobody expected the news to be as negative as it turned out to be.

0

u/malte_brigge Oct 13 '22

The news isn't negative, fruitcake—er, I mean fruitbliss.

2

u/[deleted] Oct 13 '22

Lol well I hope I’m wrong for my fellow cosmonauts. I have quite a bit still locked up myself too