A Bit of Perspective
If you woke up today and checked Bitcoin or Steem prices, you may be horrified, especially if your new to the space, lets try to keep a bit of perspective. Bitcoin is still over 1900 Dollars, Steem is still over 70 cents.
Stellar Growth in 2017
Just a few months back Steem was 8 cents, Bitcoin was 900 Dollars. This is not investment advice but a reality check. Crypto is very volatile, for the past few weeks its been on the up and up. Some may have called this a bubble, but some would say we are just getting started. Volatility is par for the Crypto course, and is here to stay for a long time. This may just be a correction on the way to the moon. There are vultures on the exchanges buying the lows and selling the highs. These guys are experts. Leave the day trading to the professionals and invest for the long term.
Coinmarket Cap Prices 27/5/2017
Thank you for reading this. I write on Steemit about Blockchain, Cryptocurrency, Travel and lots of random topics.
Images are from pixabay.com.
At this very moment, I have less than $25 to my name, anywhere. Steem would have to fall to approximately $0.00 value for me to be genuinely concerned. And even then, unless the platform itself was being totally abandoned, I would probably figure the panic would end at some point, and the price rise again.
In any case, unless you actually paid something for what you have (I suspect that most users haven't, but maybe I'm wrong), then you can't really loose anything, except maybe the time you spend writing for Steemit. Which, if you blog/write anyway, is not even really a loss, technically, because you'd be doing it anyway.
Just sayin'.
i too agree
High prices let large miners step in ;)
Wrote here:
https://steemit.com/bitcoin/@hastla/answer-people-are-asking-why-bitcoin-crash-so-hard-here-are-some-insights
Interesting perspective @hastla The trouble with Bitcoin is that its a relative small market and is quite easy to manipulate, if you have enough dosh. This is not going away any time soon.
Agree totally with you - earliest date I think is around 2022 or so after half reward.
nice photography ...really very nice caption
......welcome to steemit
I do have some nice photos, but these ones are not mine. They are from pixabay.
The pictures may be pretty but the story isnt. Some people have lost a lot of money this morning.
People will only lose money if they sell for a loss, it's scary but even the guys that bought at the all time high will eventually be in the green if they hodl long enough.
A correction was inevitable. The growth was unsustainable. I expect Bitcoin to settle down around $500 for a while before making a new resurgence, and other cryptos to generally follow suit. A few years ago when it hit $1000, it dropped below $300 for a long time afterward. We are in this for the long haul though, right?
One thing for sure, if it goes back to 500, I am going to buy what I can.
Lets get out the popcorn today and see what happens 🍿 never a dull moment in crypto
Wouldn't be worried it's is normal with crypto, we only saw a sharp rise in many alt coins only at the end of March, they fell back down but never to the level before the jump started, give it another month or so and it'll happen again, the main point is over time they are constantly gaining, all I can say is if steem was to go down further ill be buying a nice chunk of it!
I agree and it's important to remember that if your trading short term, you can lose lots very quickly if you don't know what your doing. There are sharks out there.
Oh I wouldn't trade short term too easy to lose everything, holding is best, guarantee by Christmas all alt coins at least will be above the highs they just created
I bet some will reach those heights sooner. There are some great projects out there and it has really felt in recent weeks that the momentum has been building. Steem is the best example. Hundreds of new users each day.
Oh they will I give it 2 to 3 months max everything will be well above the recent high, I do believe this year is the turning point for crypto.
I was sure that the price would meet a major correction just 2 days ago at the local bitcoin meetup I was telling all the newbies to wait a few days to buy cheaper coins. It is a very generalized price drop amongst all major altcoins so likely there will be big gains in some of these currencies in the short term.
Good advice @mallorcaman.
For new people I would suggest to get in for the long term and ignore the daily volatility. Pick coins which they believe in and HODL. I have tried to do some short term trading and it has not turned out well. There are a lot of professionals in this space, who are experts at reading the charts.
Very informative blog! If we just concentrate on this steem, we will gain big soon... following & upvoting you :)
The world hasn't heard of Crypto yet, or at least is has not been appreciated and given the respect it deserves. It is still very early days.
Spot on, Followed and Upvoted :)
Thanks @miracleman, followed you too.
Cool picture eroche 👊