Joining in the scramble to stop the spread of crypto-fever, India attempts to pump the brakes...

First, it was China. No surprise there. It is a heavily centralised economy, after all. Then, Korea. Mostly panic-inducing hyperbole that resulted in little actual change. Now, India.

Each of these heavily populated countries has taken a turn at giving traders a huge discount on cryptocurrency. In reality, their attempts to shut down crypto-trading by turning off the faucets simply will not work. There are too many avenues of access available.

But it does cause a dramatic price drop across the board. This should cause excitement, not fear, among traders. It's like going into your favourite store to find everything on sale for 25% off.

But the human psyche is fragile. Many bought at all-time highs in December and just don't see this going anywhere but down.

It will go up. The genie is out of the veritable bottle. There's no putting things back.

For now, central governments can try to coordinate things with some banks to slow the outpouring of fiat into cryptocurrency. But the transition can not be stopped. Decentralised exchanges are springing up everywhere. These have no central point of failure to be "turned off". It's just not happening.

So, don't panic. Do a little shopping at heavily discounted prices. Then, next time prices go up again, you won't have to live with that feeling of, "I wish I bought this stuff when it was cheaper".

Having said that, be patient. This is traditionally the lowest point in prices in the year -- it has been now for 4 years in a row. We may still have some bearish days ahead, especially with CME Bitcoin futures expiring for the first time later this week on January 26. You will not lose money unless you sell for less than you paid. It's that simple.

Buy and HODL.

*This is not professional advice - just my opinion!

image source:

https://calvinayre.com/2015/11/19/business/india-internet-fastest-growing-china-least-free/