I'm hoping that cryptos drop another 90% this week !!!

There isn't any commonly accepted way to establish a benchmark of crypto value.

None of the valuation approaches from the stock market work. P/E has no meaning for cryptos. PEG (P/E growth) is also undefined. P/S? ROI? ROA? Wide moats if you are a Morningstar fan? Nothing transfers over or applies.

The positive side of having no accepted approach to valuation, means you can get an unexplained 2000% increase in just one month. Followed by a further unexplained 500% increase the next.

Nothing like that is possible on the stock market, assuming you don't play around with OTC pump and dumps or any of the triple leveraged ETFs.

Corollary, you can get major drops of almost equivalent magnitude.

Fastest way to lose all your money in the stock market - be an active day trader.

Best way to lose all your money even faster than day trading on the stock market - try to day trade the crypto market.

If you think cryptos have a long term future, then you should put your money on red and go on vacation for five years. Don't watch all the the daily fluctuations which could give you ulcers if you are the nervous type.

from Piachu's Bitcoin Blog

I've seen it recently reported that many new and evolving technologies are changing at a rate that is three times faster than what we have experienced in the recent past.

Long-term rate of increase for a major US stock market, with dividends re-invested: 7% to 8% range. But in any given year the swing can range between minus 20 to plus 30.

Cryptos could be changing more than three times this fast. Perhaps averaging 7% to 8% change every few months, or an average of 40% to 50% increase every year. But in any given year in the crypto market the swing could range between minus 90 to plus 500.

If you believe in the long term future for cryptos, the "correct" course of action is:

1. keep buying at a steady rate, even into the face of 90% corrections. Dollar cost average your positions over at least 12 months of buying

2. diversify across coins. Some will be winners. Some will meet Darwin early on their trip down to $0

3. don't day trade coins

4. don't risk more than you can afford to lose completely

5. buy into the steemit.com concept

6. buy STEEM

STEEM On !!

Please upvote if you got this far.

I promise you'll remember this upvote. The memory will give you the psychological courage to not only HODL when we have a 90% correction, upvoting on this one will give you the courage to buy more in the face of a 90% correction.

GRAB SOME FREE COURAGE !!