Current market sentiment
One of the most interesting things of the crypto markets is the psychological aspect of it. Markets are always fueled and controlled by emotions but usually only to a certain degree. When it comes to the crypto - it seems to be the ONLY thing that matters.
News articles and social media campaigns can pivot the market into an upward or downward trend. It doesn't matter if the news is fact or fiction. There is severe market manipulation happening. I am not saying that just because the markets are down, in fact I think the market and news manipulation was more severe on the way up.
Go visit any of the subreddits of the recently pumped altcoins and you will find attitudes like this:
Nothing has changed
Please take a moment to think about why you are here. Likely it's one of the two reasons.
- You wanted to get quick rich.
- You believe in the technology.
Don't lie to yourself. A lot of you invested to get rich quick. You heard the hundreds of success stories and wanted in on the party. To you - I present you this quote from Warren Buffet.
"Nothing sedates rationality like large doses of effortless money. After a heady experience of that kind, normally sensible people drift into behavior akin to that of Cinderella at the ball. They know that overstaying the festivities—that is, continuing to speculate in companies that have gigantic valuations relative to the cash they are likely to generate in the future—will eventually bring on pumpkins and mice. But they nevertheless hate to miss a single minute of what is one helluva party. Therefore, the giddy participants all plan to leave just seconds before midnight. There's a problem, though: They are dancing in a room in which the clocks have no hands."
Warren Buffet
For the others - who are here because they believe in the future of this technology.. Nothing has changed other than market sentiment and price. And in 5 years will the price of 2018 even matter?
Why I'm not worried
A lot of you must be thinking... But Cryptoindex.. you must be hurting now! you are obviously heavily invested into this game!
It's true that a portion of my wealth is in the cryptomarket. I'm not worried at all though. I have a well diversified portfolio. As with all investments - I only ever put in what I was willing to lose. I also made sure to spread my time and money into other investments like everyone else should.
I make sure to always hold
- Fixed income/Cash flow
- Stocks/bonds
- Real-estate
- Crypto
Past Performance Is Not Indicative Of Future Results.. but
Past performance is not indicative of future results... but watching this video always makes me feel betters:
We've seen these crashes before, we will see them again. You, me not no one knows when the crashes will come or how long they will last. Make sure to never invest emotionally and play your cards right.
Good luck everyone.
Get More Votes and Followers! - SteemEngine
Nice post. Preach it brother! I kind of feel bad because I find it funny watching all these people panic. I mean I am no crypto OG or anything, but I have only invested in projects I believe in. And I do believe. So I don't worry about dips. I actually really like them, because I just build my positions on the fire sale! Since below 10k ive been adding a little every day just about. I hope it stays here another 3 months. Why would I want it to go back up? that just means I can buy less. HOLD AND ACCUMULATE!
your content is really good thanks for that but i thing we need new stuff from you...hope your alrite.
Not only is crypto down put everything connected to it seems down. Funny how when XRP was flying up like crazy all i saw was people asking how to buy but when it's down and cheaper no one is interested in XRP, BTC, or any of them. Weird people.
Yeah. Mob/herd/market mentality. People only want to buy something going up, never when it is going down. Really makes the ups and downs snowball.
Thats how things go, when the price is down, there is high risk in purchase, and so people hesitate. This is why those that take risk can reap the reward if their decision proves good.
People love to buy what is rising, because it seems like a sure thing to them.
Despite the fact that its not.
So true. I think this is amplified by the fact that most people in the market are very young in comparison to most other markets, in addition to the market itself being quite young. There are many good techs, but so many poor projects without much substance. If you dont understand what you are investing then you are far more likely to care about what people are saying and be susceptible to fomo and fud
Good work
I believe that looking at the stock market and Dow behavior over the last century is a great introduction to how the crypto market will behave.
Thanks so much for introducing me to this... Was beginning to feel discouraged. Nice post
Crypto markets are still, even now, VERY small.
News and even just rumors can drastically swing the price of any coin.
good job, the truth is that very well developed. Fascinating theme!
Ah... yes, maybe.
Can I add one more reason?
I agree.