Unless you’ve been living under a rock you know that crypto has had a rough go so far this year. From exchange hacks to a pretty high impact article in the New York Times about price manipulation, things aren’t looking as bright as they did six months ago for the cryptocurrency world. If you haven’t read the NYT article that came out at the end of March, you should.
A concentrated campaign of price manipulation may have accounted for at least half of the increase in the price of Bitcoin and other big cryptocurrencies last year, according to a paper released on Wednesday by an academic with a history of spotting fraud in financial markets. (Source – New York Times)
As we’ve seen over the last year, the price of crypto-related domain names follows closely with the price of Bitcoin and other popular cryptocurrencies like Ether and Litecoin. This means with the market as a whole down, domain prices are also down.
The question is – does that mean this is the time to buy crypto domains at a discount, or is this the beginning of the end which would mean they aren’t even close to discounted yet?
I personally think the cryptocurrency market is so new that it’s experiencing growing pains that are going to continue to hurt it for the near future. That being said, I’m still bullish on crypto as a whole and yes, I’m holding onto what I have until 2023 which is the first point that I’ve said I’d be comfortable selling at a loss.
Over the last six months I have sold some of my cryptocurrencies, but all at a profit…of course in 2023 what I have left might not be enough to buy a bag of chips, we’ll see. Nobody really knows where this is going but like I said above, I don’t think this is the end so I personally think that this might not be a terrible time to buy crypto-relate domains.
At the same time it’s important to realize that these investments will be incredibly risky since they’re tied to such a volatile market. So I thought I’d ask you, my readers, what you think. Is now the time to buy crypto-domains or in the words of Jim Cramer should you – sell, sell, sell.
I want to hear from you, comment and let your voice be heard!