Bitcoin Crash 2018 (A Look At History, My Thoughts, My Strategy)
POP! We all woke up one day to financial devastation. Now things look like they are turning around but let's look at history to see if we can see some likely outcomes to our situation at this given time. There is no question the chart is looking absolutely fugly. I have hedged my risk with about 9% NuBits and increasing because I'm converting my STEEM Backed Dollars to NuBits and stacking them waiting for the lower lows.
▶️ DTube
▶️ IPFS
I was just watching your video about Nubits vs Tether vs Bitshares for preserving your positions. I have some money just kinda sitting on the sidelines so threw a bit of money into Nuits, actually caught it down a bit so wouldn't be surprised to see like a 5% to 8% return on Nubits itself, I realize it's not an investment so much as a shelter but did't really have any other place to put this money so figured I'd take shelter in Nubits and maybe if I get lucky because of my timing maybe I even see a small gain.
That has actually happened to me a couple of times. Where I bought it and then people started freaking out because the market was going down and suddenly it was going for $1.10 and I peaced out. There were a couple other times I just got lucky and saw a small move of 5% and then sold out and waited like 10 minutes and then bought back in and made $100 real fast. I'm sure a person could hang around and trade in and out of that when the market is crazy volatile.
It is really hard telling what will happen in these markets. That is a big reason why I'm trying to protect myself but ultimately at this point I'm at a greater benefit if the market surges back up and does something super insane and goes parabolic again. But as we go higher I'm still planning on stacking some more NuBits.... to have "cash on hand".
But let's say this gets real bad and suddenly everything really tanks hard. I'm legit going to go in super hard this time.
I found it funny that your one video you did a week ago about the crash had so many downvotes right away. It really goes to show you how being honest and telling people how it is doesn't pay off. They seriously just want to mental masturbate to these obsurd price predictions. Like the one guy on YouTube was making price predictions that Electroneum was going to hit $35 by the end of March 2018 and people were loving it. LOL Like I see people's click bait thumbnail say stuff like "Ripple going to $28.13 " The Teenie boppers eat it up. But not only them but everyone really. I saw one guys video that was saying Bitcoin was going to hit 64K by April 2018 and he just made that on Feb 2nd. He was saying how all his data pointed to that.....etc. He had like 120K views and people loved it but he didn't really saying anything besides that his data said that was going to happen and that this was a world changing technology. LOL
I'm even worried about my $1 by end of March 2018 Electroneum prediction. But it seems like these guys who even makes these absurd predictions don't seem to lose their following when they are wrong all the time. Hahah. It is like that @haejin . He just draws phony lines and is wrong " A LOT OF THE TIME" But it is like no one notices. He just keeps getting upvotes. It is like people's fix to go to this posts and have a mental masturbation session over a big price target on the coins they own.
Yeah it's funny as soon as you talk about being level headed or even encourage people to take profits along the way, basically anything tempered that's not cheering on a moonshot is oftentimes met with downvotes.
Yeah it is pretty unreal to be honest. I think partially they think that if you say a coin is going to go down they feel like you are hurting them financially and attacking their way of life.
Release the Kraken! You got a 1.20% upvote from @seakraken courtesy of @rulesforrebels!
Solid analysis - you are completely correct when you say that timing of the market is everything in crypto.
If you get in early on a given coin, and it goes shooting up, then happy days, but if you buy near the peak and the market tanks, then you're in a world of pain.
The only advice I can think to give n00bs is to educate themselves, and not give in to FOMO when the market pumps, and not get scared by FUD when the the market nosedives.
'Tier one' coins, (with a few exceptions) are not really worth filling up on, if all you care about are gainz, as they are much less likely to go 10x than some random alt just starting its journey.
However, with so much nonsense being launched, separating the wheat from the chaff is really hard, and requires some technical understanding, some economic basics, and some concept of how these will intersect in the not-to-distant future.
The timing is certainly tough here. I have caught some major rides but suddenly it can turn on you fast for sure. One of the smartest things I did this past summer was using my earnings and even powering down from Steemit and investing that into EOS and other investments. Then I saw the tide turn and stopped my power down and powered up some earnings here. Never sold my EOS though. I keep stacking that up!
I bought a small amount, but didnt see it rising quite so fast. Was thinking about getting in when it was $2-4 , then POW, it took off! Finally took a small position around $8, but stacking a respectable pile is going to be hard at these prices. I'll probably dump my heavy bag of AMP over the next few weeks in favour of EOS.
A few months back, it was a toss up between EOS & Iota, and I took up a bigger position in the latter. Not such good immediate returns, but I like what the team is doing, and predict big things for IoT and DAG technology in the future.
I only bought 10 IOTA when it was up high and there were all kind of issues on the exchanges with it. I'm eventually going to Average down but ultimately I went harder into Nano which is a DAG as well. I'm upside down on that investment currently but I will average down and we will see what happens.
Thanks for the video its very educative, instructive and full of insight... however all that plays out in the marketplace is what is necessary to keep the marketplace a marketplace... those who fall for FUDs, and FOMOs...
Best thing that can happen to anyone is to be an educated trader... One cannot force the horse to drink from the stream, it can only be guided to the stream.
So if you want to minimize losses in trading... then educate yourself. Its that simple!
This post was selected at random for a resteem by the Abasinkanga Resteem Service
Check out Abasinkanga Resteem Service - FAQ (Frequently Asked Questions) for full details about this service
I am not a bot. Upvote this comment if you like this service
That is true. We might have to let the weak fall for FUD and FOMO
I'm taking SBD to BTC first. I think there's some movement. I feel the Chinese New Year theory may be true.
Yeah it may be true. I just wonder how hard it is for Chinese people to bring more fiat into the system at this point. I heard that they have to open up companies in Hong Kong and then fund their crypto addiction through a business account set up in Hong Kong now.
Also if we are in the Dead Cat Bounce aka Bull Trap it could go up by 30 or 40% potentially before it turns the other way.
really! ....
.......
This is a wonderful post.I appreciate your cryptocurrency news..
Financial devastation indeed ....now everything is looking ugly and people are filled up with fear... "there's light at the end of the tunnel "
The drop was pretty brutal for sure.
Interesting .. I will follow you, I hope the same to interact in opinions and votes
good post upvote me