WENDELL HUSSEY | Cadet | CONTACT

A crestfallen young crypto investor has assured The Advocate today that the recent crash is just “the market working itself out.”

Coen Matthews, a young digital media professional studying at the Polytechnic in Betoota explained that there was nothing to worry about as he refreshed his ever-diminishing portfolio of digital currency.

“Honestly, there are a number of reasons for the drop in prices,” said the student who has no previous financial experience or expertise.

“It’s Chinese Lunar New Year, and the Asian markets account for a huge amount of trade, they are just taking some of their money out for that. That money will come back in,” he said.

“Then you have a post-Christmas boom that bolstered prices and the market is just correcting after that.”

“It’s all good. It’s all good” he said while starting to visibly panic.

“All the guys on Reddit are telling me to hodl (sic), I’m holding. I just wish all my money wasn’t tied up in crypto so I could buy the dip,” he laughed nervously.

Matthews told us that while he is confident of long-term gains as he believes in the coins, it does seem like an eternity ago that he was trying to figure out how to prevent the tax man from getting his hands on his riches.

“Yeah, won’t have to worry about Capital Gains Tax for a little while I guess,” he said.