In conversations with acquaintances, whether or not one was invested in digital currencies suddenly became an invisible marker of those who were “in the know.” Somewhere in the excitement of the new, a healthy skepticism was pushed aside. This is not to say that doubters were completely silenced. However, this market selloff is a prudent reminder of the importance of cultivating a well-reasoned contrarian point of view.

It can be OK to sit on the sidelines

In a landscape as quickly evolving as that of fintech, products, definitions, and metrics, are constantly evolving. It is perfectly reasonable to be a patient observer, rather than an active participant. You do not have to form an opinion immediately, or indeed, at all. You can take your time learning, asking questions, and reaching your own conclusions.

What’s next?

This is potentially the tip of the iceberg for the decline in cryptocurrency pricing. The effects have been far-reaching: last week, Coinbase COIN -3.5% announced that it would be reducing headcount by 18%. As volatility continues to seep its way into every crevice of the broader market, each of us must ask difficult questions of ourselves, and start preparing for new realities.