Cryptocurrency Market Update: Panic Sellers Will ONLY Lose
Make sure you take a close look at the graphic above.
Alright my fellow cryptocurrency enthusiasts...this is a tough pill to swallow, right? Our beloved Bitcoin and Ethereum are down, the latter hurting far worse. We see 'the Ethereum Killer' or EOS, at over at 50% loss; Ripple 'the Banker' down inching to $0.20; and 'the selectively transparent Bitcoin' is down nearly 25%. While panic may be the first emotion to set in as you see your investments dwindling, make sure you think back to WHY you invested in this space. Because you believe in it. See, the cryptocurrency phenomenon will only grow at a solid rate if we BELIEVE in what we're buying, the teams fueling this technology, and the fact that cryptucurrency truly creates solutions for a wide array of issues.
So take a look at this little dinky picture above. Notice the $88B market cap? How about the 45.5% Bitcoin dominance? Even the $2.5B 24-hour volume is a relatively low figure for the cryptocurrency market. *As the overall market cap shrinks, Bitcoin grows because investors become panicked and know that Bitcoin is the OG cryptocurrency - it makes sense. What doesn't make sense is that all of these blockchain companies and their falling token prices.
In the 10-weeks I have been obsessively living the cryptocurrency trader lifestyle, 24/7, I have not seen BTC dominance this high with such low market capitalization. To me, this is a prime time to buy!
Why?
The very top photo is a pretty simple and clear depiction of what goes on when the market is in a panic. The experienced traders know that it will only bounce back, giving them a solid 20-40%+ return on their investment during this time of great panic. Genius or stupidity? I like to think genius.
Do you really think Siacoin, MobileGo-GameCredits Mogile Store, or even Ripple and their 100+ banks on-board are going to fail? Really? Cryptocurrency investing may not be for you...
For my panic sellers and new traders - this is your time to capture wealth! As the market drops, I was scurrying to see if I still have 0%, 12-month balance transfer offers on my credit card...yeah, could be a stupid move. At the same time, it could be the smartest strategical move I make in my entire life.
Siacoin pre-sale website
Woah, those are big words...entire life? YES.
You see, most people don't understand basic principles of economics. Meaning, most people don't understand stuff like the simple laws of supply and demand, something that plays a MAJOR role in the value of these tokens.
The GameCredit-MobileGo Mobile Store has already launched their beta and the team has at least $26m in marketing budget to onboard users. From what I saw, the app store looked GREAT. The MGO token will be used in P2P play, which means they need to build a user-base first. Once they build a user-base, there will be an increased demand for MGO whether or not the app store is successful. IF the Mobile Store is successful, the team will do an MGO buyback with 10% of quarterly profits. Remember the supply and demand image above? This creates INSTANT increase in demand because the team will buyback the MGO and BURN it, decreasing supply. Below is a screenshot
75,000 downloads? Pretty solid figure if you ask me...and I believe that's just the beginning. Remember this JUST launched last week! It is still just in BETA.
Let's just use common sense here...
it WILL go up in price as demand increases due to user adoption. Similar story with Siacoin despite being an entirely different use case - they have already sold 1,200 of their new mining rigs that cost $2,499...1,200 x $2,499 = $2,998,800 - this is not only a great indication that the Siacoin community has believers that are willing to buy-in, but it gives them another $3m in capital to continue building the community despite a decrease in their token price = to me, this means BUY NOW.
Today was a long article, but the core of my message here is DO NOT PANIC SELL BECAUSE IT WILL ONLY ENSURE INSTANT LOSSES. Do your own research and don't just take my word for it. I don't know everything, I am not an oracle, but a human being that has spend the last 10-weeks, 10-15 hours a day, 7-days a week researching this stuff, talking to team members from these coin communities, and ultimately looking to get more involved in the cryptocurrency/blockchain space.
Feel free to follow, upvote, re-steem, etc. if you enjoyed this content. I do this for MY community and I take pride in helping us all grow and move forward together. Hope this helped and happy trading!
@crowdedmind
Below are resources for cryptocurrency enthusiasts, traders, & anyone interested in buying cryptocurrency for the first time:
I'm already on the moon... waiting for my cryptos to arrive. I'm holding!
https://steemit.com/meme/@valderrama/oh-crypto-where-are-you
In my opinion, people with enough skill and experience can even benefit from crashes. I guess smooth waves doesn't make skilled sailors. I'm sure some people who lived through this crash will have way better plans for the next ones.
Besides the obvious "marketing" material on SC and GAME, this article does a good job of explaining why selling is just a bad move at this juncture. Nice post, upvoted.
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