You Can Unlatch Your Safety Belts Now.
Feel Free to Move About the CryptoCurrency Cabin.
For everyone who thought they lost everything yesterday I am here to inform you that it appears we have exited the worst of the storm. Congratulations to everyone who did not panic sell. High Five to the HODLers who have seen this so many times before.
Like many of you my portfolio is way way down but I am not worried. In the past I would have tried to play the market volatility with leveraged BTC trades on Bitmex but I have chosen to take the less stressful route of HODLing. Many of my friends made small fortunes, yesterday in that mayhem, with leveraged positions of 5X - 10X. I am happy for them, but I am happier that I did not lose anything just USD value temporarily.
I HODLed.
And in the times of dip I had even bought some tokens cheaply.
If I have MORE tokens now, even if currenly they are worth less in $, did I lose something? No. I lose nothing, I gained something )
Lesson learnt from this crash is that BTC is only the king... If it crashes no other crypto can survive, irrespective of how high technological potential it upholds...
That's just during the turbulent times. And that's because cashing out requires you to transfer your holdings into Bitcoin. Just like cashing in requires you to buy into Bitcoin.
Beware of the Bitcoin pump before the alt coin trade dump (moving of new Bitcoin, which is pumping the value temporarily into Bitcoin, out of Bitcoin and into alts). Although new money very well may HODL a portion in Bitcoin as a "reserve", similar to how you may hold Fiat in a trading account in reserve.
That's what... Bitcoin is the gateway to crypto world, we cannot enter or exit without it... No other coin in the near future can overtake it...If it goes down, whole market goes down.
You can also look at it as: When the rest of the market wants to cash out, it has to go through Bitcoin. So Bitcoin, in effect, is only as valuable as the rest of the market.
Meaning, Bitcoin is not the driver of the value of the crypto market, but merely the vehicle through which value transfers. As such, when the overall market corrects, the increase or decrease in the value of Bitcoin isn't the stimulus, but instead the change in value of Bitcoin is merely the response to the stimulus (i.e. market correction).
ETH can do it. I posted about it weeks ago and I believe it's happening now. But this is a turbulent transition just as any overthrow of a bad king has been throughout history.
I'm glad to see today crypto market condition. Woah....awesome..
Absolutely better update @hilarski.
Congrats all.
You Can Unlatch Your Safety Belts Now.
hahaha it's nice post, panics lost & hodl won. impressive explanation @hilarski
@resteemia
reteemed & upvoted & commented & followed
HODL works. nice post
~Followed & Upvoted
Yeah the less stressful way is always better to keep a healthy mind.
Yeah, I completely agree.
I did make a few purchases yesterday as I saw a great buying opportunity but absolutely no selling. Some are on a nice tear now TRON is up 98%!
What a wild ride, exciting stuff.
Ha, yep. It was a necessary correction in my eyes.
Im glad smartcash is my biggest holding! It actually did well in the midst of all this turmoil
Even i'm just new to the crypto scene, i'm still HODLING ON.
If you have knowledge and a definite faith on something, with a basketful of patience, congrats, you will reap the rewards someday. :)
Completely right!!
Good Coins will come up again, and shit coins will stay where they should.
Choose wisely!!