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Thursday, February 9, 2023

Crypto Social Scene Strengthens in Thailand Despite Huge Losses

Crypto investors in Thailand find support within thriving social communities.

Enthusiasts from across Phuket gathered last Wednesday for a much appreciated monthly opportunity to breath fresh air and optimism into the current market slump, with the majority of investors continuing to HODL (Hold On for Dear Life) while FUD (Fear, Uncertainty and Doubt) continues to grip the financial markets worldwide.

The founding inspired duo Inna & Jaja welcomed familiar faces and newcomers alike with their natural energy and warmth, encouraging honest market appraisal, insight and opportunities to be shared.  

“We decided to establish the “Crypto Nights” events in Bangtao, because there is a huge expat community here. The networking events provide a healthy, neutral environment dedicated to sharing latest trends and news amongst crypto enthusiasts. It’s humbling to see the project gaining momentum and new, curious investors engaging with the more established attendees.”

Inna Shabilina, Founder Crypto Nights at Drinks&Co

Founding team of ‘Crypto Nights’ in Bangtao

Many attendees took advantage of the absence of a guest speaker to mingle beyond established networks, and in particular, welcome a team of Web 3 recruitment agents from England currently visiting Thailand to connect with clients and build their brand. 

“Our recruitment team stumbled upon the Crypto networking event by chance, and it’s really provided us with some great insights into the activity within the crypto industry here”

Dan Franklin, Head of Crypto, Prioritycrypto Jobs

Investors manage FUD and continue to HODL while sell-off deepens across stable and altcoins.

Despite recent challenging times in the crypto market (with a total market cap loss of 2.194 trillion dollars since its peak in November 2021), the staunch crypto believers see the decentralized ethos as the future of finance and the current bear market as an opportunity. 

Jokes aside, it’s good to get the final capitulation over sooner rather than later, then we can bounce around at the bottom and accumulate whatever we can to position ourselves for the next bull cycle” 

Josh Featherstone, Crypto Phuketians Social Media Group

Historically, the crypto market is cyclical, and with the last bear market presenting in summer 2018, some long term investors anticipated the current decline and see the impending bear markets only as a fresh opportunity for significant gains. 

Ayla Lewis-Wharton - Originally from the UK, based in Asia for several years.I edit content.  Previously a chef on Superyachts, I'm now a mother, a wife, a lover of all good things, and I like to sing and dance when nobody's watching.

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