Will Decentraland recover? | Bitcointalksearch.org

Yogee

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Quote from: JamesDaniel90 on November 20, 2022, 03:52:21 PM

Is it not a good time to buy something like Decentraland that is 92% down from all time high?

It looks good on paper but that 92% doesn't guarantee it won't go down by another 50% or more. DCA if you still have funds to catch a falling knife and if it's for long term.

I'm controlling myself not to buy anything at the moment. I think there are still few more months of sideways or downward movement. Save fiat or stable coin for the meantime.

Blawpaw

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Decentraland (MANA) is a very good project and it has something already built. So, it is nothing that will simply disappear out of thin air. That said, if the guys behind the project are still going to innovate and present new solutions they will succeed. The metaverse is also something that came to stay, and from here on, a lot of development will be done in the area, so if Decentraland is able to keep up, they will most certainly succeed. If they do, you will see the price of mana soaring a lot in the next bull run.

bittraffic

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You realize that Decentraland(MANA) price started at less than a cent back in 2017. The people who believed in it from the beginning are still in profit. This token has yet not plunged to its deepest, for sure it can go up again but you'll have to wait again til the cycle bullrun.

But OP however bought at a price that's very high and DCAing. It's a wrong coin to be DCAing, he should just follow what others are doing. Get BTC.

Wexnident

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Quote from: JamesDaniel90 on November 19, 2022, 07:44:41 AM

This is my first bear market experience and I know altcoins being down 90% is normal but I thought the metaverse was supposed to be the next big thing?

It was overhyped. It was an idea worth exploring but it definitely wasn't something that was going to be developed without decades of development imo, not to mention most of what we have right now are knockoffs (imo) of say VRchat, Minecraft, etc.

Quote from: JamesDaniel90 on November 19, 2022, 07:44:41 AM

Would be interesting to hear any thoughts on this? Are you for or against Decentraland and if so why?

Honestly, my first time hearing about the project. Went to check their Twitter and it seems like they're still doing some stuff for its development, but it doesn't look like they're doing or have done anything "big" that would make investing in it worth it.

Quote from: JamesDaniel90 on November 20, 2022, 03:52:21 PM

Is it not a good time to buy something like Decentraland that is 92% down from all time high?

Hmm seeing as it's down really bad right now, I'd suggest not buying in any for now and just hold what you have, it might recover a bit and by then it's up to you to decide whether to cut your losses then and there or hope for more. At this point, you're already down pretty badly anyway so I doubt losing more would be much of an issue (since you've already lost anw).

WalkerIVIV

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if the value has been decreasing that significantly then surely it will have higher chance of making recovery, even though it might not be a full blown recovery that you might think it is, maybe it will never reach the ath ever again since it's 90% value decrease that's basically too much.
the thing with decentraland is that it's metaverse and we still don't know the future of metaverse since it seems at this current moment metaverse seems losing more and more market shares.

blockman

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Quote from: JamesDaniel90 on November 20, 2022, 03:52:21 PM

Is it not a good time to buy something like Decentraland that is 92% down from all time high?

Well, if you've done your research and you think based on that research you've made that it is going to recover then any price at the bottom is an excellent price to buy.
But also to remind you, most of the projects that have been into that loss and the chart doesn't look good as it's looking that it will be plain and flat for the current situation that it's got, has the potential that it won't recover anymore or if it does, it will be hard.

JamesDaniel90

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Is it not a good time to buy something like Decentraland that is 92% down from all time high?

blockman

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This is one of the known metaverse projects out there and I have contemplated buying a lot of it when the strength of Metaverse was still there.
I think as a project it will still recover but we don't know when maybe for the next bull run. As you're at the loss on this project, this is the reason why someone has to buy bitcoin and it should be done at these times while the price of everything has been down. You've got a lot of reason to buy bitcoin and yet you still buy altcoins.

zasad@

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Quote from: JamesDaniel90 on November 19, 2022, 07:44:41 AM

Would be interesting to hear any thoughts on this? Are you for or against Decentraland and if so why?

Now we are seeing a very large price reduction for projects that are related to the metaverses. Decentraland is very strong and one of the first major projects, and most of the tokens are already unlocked. If you are waiting for the price to rise to $4-5, then buying at 30-60 cents is not a mistake, but you need to maintain risk management and not invest in one project.

JamesDaniel90

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I am going to stop investing in it for now, will next buy more when it drops to 30p.

I think Decentraland will recover but think I will be waiting for 12-18 months minimum until it goes back to all time high, just have to be patient.

Bitstar_coin

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Quote from: JamesDaniel90 on November 19, 2022, 07:44:41 AM

Decentraland was the first crypto I invested in when I started investing February this year buying at £2.45.

I have been DCA a lot since the June crash and I thought 60p was a steal but in recent weeks it has just kept falling and is now at 34p. My average buy is now only 64p but I am still 46% down on it overall.

This is my first bear market experience and I know altcoins being down 90% is normal but I thought the metaverse was supposed to be the next big thing?

I am still buying at these cheap prices just not as often now.

Would be interesting to hear any thoughts on this? Are you for or against Decentraland and if so why?

Lol, the metaverse is going to be the next big thing but not within one to two years bro. Decentraland is a good project judging by the number of big names buying lands in their virtual world but it will all become worth the while in the future, not withing a few months of existence or investment.
Like you already said, the alts are down by 90%, btc is not left out, you should continue to dca if you have the funds to do so, plus you should be happy it is not some shitcoins you put your money on, decentraland is a great project but requires time and patince which is what you are going to need if you want to regain your invested funds back.

o48o

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Quote from: JamesDaniel90 on November 19, 2022, 07:44:41 AM

Decentraland was the first crypto I invested in when I started investing February this year buying at £2.45.
I have been DCA a lot since the June crash and I thought 60p was a steal but in recent weeks it has just kept falling and is now at 34p. My average buy is now only 64p but I am still 46% down on it overall.
This is my first bear market experience and I know altcoins being down 90% is normal but I thought the metaverse was supposed to be the next big thing?
I am still buying at these cheap prices just not as often now.
Would be interesting to hear any thoughts on this? Are you for or against Decentraland and if so why?

Decentraland was buld during the hype and hype was immensive. It wouldn't be able to deliver anything that even resembled those expectations people had. Cult like communities are rarely started that way. Succesful ones start small and grow bigger, like facebook. Like google, Like minecraft. They weren't about making money, but perfecting and experimenting with something. If there had be a referral incentives of any kind, or things you could have bought from the start in those systems, they would have invited wrong kind of crowd and they would have failed, because people would have seen those as annoying ponzi scams. As they do with decentraland.

Idea of metaverse wasn't anything new. And every implementions people have tried with (especially when there's some sort of gold rush involved), have been mostly cringe worthy. The idea is good, but everyone is using it wrong.

The future of Decentraland depends on the users and devs. Just getting big names in isn't enough at all, as it doesn't add fun to anything.

TastyChillySauce00

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Quote from: JamesDaniel90 on November 19, 2022, 07:44:41 AM

Decentraland was the first crypto I invested in when I started investing February this year buying at £2.45.

I have been DCA a lot since the June crash and I thought 60p was a steal but in recent weeks it has just kept falling and is now at 34p. My average buy is now only 64p but I am still 46% down on it overall.

that's a lot of lose but that's good to see that if a bit easy to recover once bullish will come.

Quote from: JamesDaniel90 on November 19, 2022, 07:44:41 AM

This is my first bear market experience and I know altcoins being down 90% is normal but I thought the metaverse was supposed to be the next big thing?

It's still too far to be the next big thing. Metaverse didn't perform so well in the market right now. I guess if this gonna be a long term journey for metaverse.

Quote from: JamesDaniel90 on November 19, 2022, 07:44:41 AM

I am still buying at these cheap prices just not as often now.

That's pretty interesting to know that if you have guts with this one although you have been loosing lots of money. Why don't you just try to take care with another crypto? this might be better for yourself. Mana has a small chance to recover and this will rely with bitcoin price movement.

Quote from: JamesDaniel90 on November 19, 2022, 07:44:41 AM

Would be interesting to hear any thoughts on this? Are you for or against Decentraland and if so why?

I don't against it but investing in metavers was not good for now. You can try with another field.

BigBos

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Quote from: JamesDaniel90 on November 19, 2022, 07:44:41 AM

Decentraland was the first crypto I invested in when I started investing February this year buying at £2.45.

I have been DCA a lot since the June crash and I thought 60p was a steal but in recent weeks it has just kept falling and is now at 34p. My average buy is now only 64p but I am still 46% down on it overall.

This is my first bear market experience and I know altcoins being down 90% is normal but I thought the metaverse was supposed to be the next big thing?

I am still buying at these cheap prices just not as often now.

Would be interesting to hear any thoughts on this? Are you for or against Decentraland and if so why?

yes, this is a normal thing to happen in the market, you have to adapt to the extreme bear market. Decentraland's main project is Metaverse, where we will have our own character in a place that has been provided by Decentraland, have friends, and create a virtual community. this may be a big project as it will need repairs from time to time. the concept is the same as when Facebook was first created, the difference is that the metaverse is much more complex because we can create our own buildings in it, etc.

Big projects like this are indeed very potential so many are investing because under the pretext of the existing facilities in the Decentraland metaverse they can be used for business. but maybe the circumstances of the world speak differently, all investors are forced to withdraw their money to save their businesses in real life.

Of course, Decentraland can recover because they have the potential to change the world of social media to become more complex.

posi

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There's still a chance for Mana but honestly not much, metaverse can still be a trend that continues and explodes in the future but that doesn't mean Mana or Sandbox can return to ATH or their peak. I advise you to stop DCA as it is very risky, at this time only invest in bitcoin, with altcoins please do not invest in them.

I would still like to remind you that with each passing bear season, a lot of old projects become unrecoverable, so it is not wise to focus on old projects. There are a lot of new projects under construction preparing for the next bull season and we can wait for really clear signals from the bulls, then decide which altcoin to invest in.

omone1

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I didn't buy decentraland, only say it on my news feed, just that too many metaverse projects came up too fast, a lot have zero tech to offer, just out to grab investors money and will later shutdown citing market sentiment. To be safe, it's better to have bitcoin as first choice of portfolio.

crzy

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Quote from: JamesDaniel90 on November 19, 2022, 07:44:41 AM

I am still buying at these cheap prices just not as often now.

Would be interesting to hear any thoughts on this? Are you for or against Decentraland and if so why?

As long as there's still an update with Decentraland, there's still a chance though better not to expect that much.
Metaverse is still new though and most of metaverse project are affected by this bear market including Deceentraland. I've know this project since its started though I was not able to buy or invest but still I see a bright future for this. Metaverse will grow more, bull market will help them to rise again. Just stop buying for now though, instead buy other good coins that can help you have some profit to cover your losses with Decentraland.

Jackl87

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Quote from: JamesDaniel90 on November 19, 2022, 07:44:41 AM

Decentraland was the first crypto I invested in when I started investing February this year buying at £2.45.
I have been DCA a lot since the June crash and I thought 60p was a steal but in recent weeks it has just kept falling and is now at 34p. My average buy is now only 64p but I am still 46% down on it overall.
This is my first bear market experience and I know altcoins being down 90% is normal but I thought the metaverse was supposed to be the next big thing?
I am still buying at these cheap prices just not as often now.
Would be interesting to hear any thoughts on this? Are you for or against Decentraland and if so why?

I think that the same thing is true for Decentraland as for most of the other crypto projects. As soon as the market as a whole leaves behind all those negative news and happenings with the drama around Terra Luna first and now the bankruptcy of FTX and starts to recover most of the projects will recover with the overall market. The next question is, if Decentraland is able to reach the price levels around it's ATH again.
Regarding that i am not sure to be honest. Play2earn and metaverse were two big trends of the crypto industry of the last 2 years or so. Now that the big hype wave is over only the good projects of those genre will survive. I think though that Decentraland is one of them.

BitDane

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Quote from: JamesDaniel90 on November 19, 2022, 07:44:41 AM

This is my first bear market experience and I know altcoins being down 90% is normal but I thought the metaverse was supposed to be the next big thing?

Have you ever considered that there are lots of metaverse project out there? So it maybe possible that the metaverse will be the next big thing but it doesn't mean that it will be Decentraland.

Quote from: JamesDaniel90 on November 19, 2022, 07:44:41 AM

I am still buying at these cheap prices just not as often now.

Would be interesting to hear any thoughts on this? Are you for or against Decentraland and if so why?

Just have patience and better check updates and community growth of the token you are holding. Almost all the times, whenever we heart the word the "next big thing", it is almost an empty phrase. So better to do more in-depth research and don't trust people who are hyping a project. I am not against Decentraland, I am just stating the general situation in crypto whenever someone is hyping a project.

Yogee

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Quote from: JamesDaniel90 on November 19, 2022, 07:44:41 AM

....but I thought the metaverse was supposed to be the next big thing?

Keyword there is "next". What you've been hearing or reading are speculations so don't bet too much on it. Metaverse projects had a good time in the last bullrun but it cannot escape the bear market just like any other crypto. I think the interest hasn't peaked yet so there's still a good chance to recover in the next two years.

Topic: Will Decentraland recover? (Read 210 times)