Crypto Market Update / Throwback Thursday Tracklist
Hey Steemers,
Given the recent heavy volatility in the markets its important to keep a level head, though, admittedly, that is hard to do when the overall market cap has dropped by 50billion in just a few days, plunging to Nov 17' levels:
I know we can all get frustrated when things are not moving in the direction we want them to (my personal portfolio is down about 70% since Jan of this year), especially when we feel we have invested for the right reasons -Innovation, challenging the status quo, changing society around us for the better - to name a few. Times like these can shake our belief systems and will make many give up hope, but the reality is that change is not (and never was) free. It is always met with scepticism, objection and resistance, before it breaks through and elevates us into a better version of the world. Everyone of us, on this platform, or investing in cryptocurrency in general, wether they know it or not, are leading the charge for change. This test of our faith to continue that charge, is the cost of leading it. I have had alot of friends that are interested in the space, ask me what coin to invest in or if crypto is still worth it to move into. My advice to them is always the same, self discover your own answers to the following 4 questions before making any commitments:
Disclaimer: This is absolutely NOT financial advice, but my own opinion on investing that has worked for me:
- Am I prepared to lose everything that I am putting in? If yes, proceed to 2.
- Do I understand the underlying technology of what I am investing in? If yes, proceed to 3.
- Do I believe that (after doing research) this technology will have a significant impact on the world? If yes, proceed to 4.
- Is that the type of world I want to be a part of/support? If yes, consider investing.
These key questions have helped me steer away from a lot of overhyped junk and stay true to a lot of great project I truly believe have the potential to change the world for the future. They help me self reflect and encourage me to have unbiased beliefs so that I can continue to... Bounce Back which is this week's Thursday Throwback Tracklist. Check it out and let me know what you think in the comments below. Follow for daily content.
Keep it movin',
Stacksavenue
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Hey, iam new to crypto, do you think that the price of btc will go up ,down or stay the same in the next couple of days?
I will definitely keep an eye on your content :)
Hey Panira, Again this is not financial advice, but generally speaking, It is very hard to predict where the price of BTC is going in the short term. You can try to rely on technical analysis, but this can often provide false indicators. Global news on government regulations on cryptocurrency in general has been what is really affecting the price and will continue to, in my opinion. This is because the field is still so new the rules to the game are just starting to be explored with some world governments being more open than others. Personally, I look at any innovative technology, like cryptocurrency, as a long term investment. By that I mean 3-5 years, not weeks or days and I always ask myself those 4 questions to help me identify if it is worth it. ;)
nice post