Daily Opinion #3: Don't look at cryptocurrency charts repetitively during a downturn
If you are invested in cryptocurrencies, it's probably not wise to constantly refresh coinmarketcap all day. Unless, of course, you are a day trader.
Just stop. Breathe. And read on.
Dang, I guess no lambo's this week
In my opinion, most coins that have real value and potential are a long hold. Yes, the cryptocurrency market as a whole has taken a large dip over the last few days, taking most altcoin's value down with it.
Excessively looking at the charts especially during market downturn can lead to depression. Instead, ignore, move on, remember this is a long game, and move on with life. It is not the end of the world, and as soon as 'the bottom' is reached, there is only upwards to go.
If you squint a bit, you'll start to see green
All in all, we are actually UP over the last few months. Corrections will happen, dips will happen. If you are a daytrader, this is actually an opportunity to buy. All coins are on sale today. If you've been wanting to get into a particular coin, now is probably the time.
If anything, large downturns can expose which coins people actually believe in as having real value - the ones that hold up better during bitcoin corrections are the ones that are more likely to succeed. Steem certainly seems to be one of these. There are far worse losers in the market at the moment, and steem seems to be one of the best. Keep in mind that the USD value of steem was around only $1 two months ago. I think this puts steem at a great chance of incredible success as soon as the market starts going back up. Steem even got listed on binance yesterday which is currently the second largest exchange in the world - that's some incredible news, and it seems there is plenty more good news to come around here.
Give it some time, this will all pan out. And stay off coinmarketcap, blockfolio, or whatever your refresh button is attached to.
Write some blog posts, get some work done, go outside, enjoy life.
And that's the daily opinion.
thank you for the advice and the information, however it is pretty difficult not to look at them chats or refresh as you rightly said if one is a day old trader. you have forgotten about us who might not be days old but have invested our all. thanks a lot though.
Right? The struggle is real!
I like your post
No all crypto currency hit that badly, btx keep.moving forward at the wake of this bloodbath even it's color red.
Are we nearing the bottom of the big DIP? How should i get back into this doenward trend? Thank you for the optimistic insight i could a little hope now. @dailyopinion
Lol! I completely agree. Looking at the charts doesn't change them. Instead, write a Steemit post and make some money!