How to Play the Market Right Now
💙 How to Play the Market, not Financial Advise btw.
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00:23 Bitcoin Beginnings
00:54 Market Recap
01:46 How to Play the Market
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🎵 Music!
Haddaway - What Is Love
🤣 Clips!
Amber vs the Magpie
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💬 I am not a financial adviser and this is not financial advice. I'm just a humble man with a great passion for all things block-chain, even tangle and block-lattice.
I’ve been having doubts for a week but I am now certain: coins with large supplies are pumping to absurd values regardless of how good the project is.
There is a huge wave of new people in thw market, and for some reason, when they look at the coin prices on coinmarketcap, they look at the coin value and not the coin market capitalization. New people believe that the lower the coin value is, the more it has potential. And they also think that they missed the boat on bitcoin, ethereum and dash just because the coins have a big value.
That’s why ripple, ada, tron, xem, stellar lumens and so many others that were valued at under a dollar are being pumped like crazy. People still see them as cheap, when in reality their market cap is getting close to ethereum’s (and to bitcoin’s in ripple’s case). I don’t think most of these projects are bad, I like some of them, but they are clearly overvalued and keep breaking new highs everyday for too long.
That said, if you want quick gains, find an altcoin with a cheap coin value. This won’t last long, this confusion is going to go away.
but what do you think about the price of sbd and steem at the beginning of this month?
how do you think and your feelings?
Steem is the only crypto with real usecase. People earn their living on steemit. If we're speaking logically, steem can be the number 1 crypto in market capitalizations. Not enough people understand it yet.
I wouldnt say its the only crypto with real usecase nor it can be no 1. But sure it is nice and uselful.
Why?
Your video gave me a good laugh this morning. Well worth the upvote.
Brilliant post. Informative and entertaining.
Them alts been on a tear
man, you always make me laugh :-) great posts
I've a huge problem with the current market situation: Coins less than one Dollar. Why? Because people buy them like crazy. Take a look at CoinMarketCap. You have anyway a tab open ;) and scroll down the list. The most gainers are all Coins which are or were a week ago <1$. Here are some examples: Ripple, Cardano, NEM, Tron, Stellar, Verge ...
Why this is a problem in my opinion? There a lot of new people in the space that don't understand that price is as unimportant as the name of a coin.
Here's an example with IOTA. The price you see on CMC is in MIOTA (Mega IOTA, which are 1.000.000 IOTA). Imagine CMC would show you the price for one KIOTA (1.000 IOTA) which would be around 0.004$ or for one GIOTA (1.000.000.000 IOTA) which would be ~4000$. That are huge price jumps but it doesn't matter! The value for IOTA itself stays the same. The only thing that matters is the market cap, which is a combination of price and supply.
The newbies wanna catch the new BTC and imagine/hope their coin can go up to the same price as BTC. I have this opinion because I read more often stuff like: "Ripple to 100$???" or "ADA to the mooooon 1000$!!!!" which makes me wanna cry. (These are just two randomly picked examples, I don't dislike these coins). That means that they would be at a many TRILLION USD market cap. Probably in ten years if everything goes perfect. But I see 95% of them crashing again as people realise they are overvalued. At least I hoped so. BUT I also didn't see XRP ever reach 1$ and here we are at nearly 4$. So I might be wrong, no one can see into the future. I just want to point out that the price is irrelevant and that it scares me so many people don't get it.
I think the key which is often missed is that for holders who are not spending time on exchanges but holding long term the BTC only value includes that of BCH and BTG :D
Also interesting point in regards to the coin cap and recent pumps. Funny how people gravitate toward a "whole" coin. Wondering when Doge will re-enter the top 10 now, lol... but kinda serious... Doge can do everything LTC and BTC can do - swaps and so on but has a huge circulating supply and releases the same amount every year; now we need segwit active on it. Not pumping it (only holding a few hundred I got for free when I mined LTC).
The best videos, best crypto commentator! Almost everyone I talk to about crypto (new non techie people) don't want to own less than one coin. When they only have a budget of a couple thousand dollars, buying 0.1 of a bitcoin feels wrong to them and they would much rather buy 1000 Ripple. This is only anecdotal evidence of a small amount of people but I would be willing to bet that the majority of new people getting into Crypto right now feel the same way.
Good funny video as always CryptoDaily! This pump has been crazy!!! Mutliplers for daaaays!!!!
I agree completely, seems like a lot of newer people entering the space aren't looking at coin supply and marketcap. Just price. So "cheap" coins such as ADA, XRP, NEM, XLM have been pumping like maaaaad.