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RE: The 2018 CryptoCurrency Market Correction has Shown Most of the Trading Analysis on Social Media Ineffective in a Bear Market - A Call to Watch the Fundamentals Instead

in #bitcoin6 years ago (edited)

I upvoted this but refuse to be drawn into making a price-chart analysis and recommending numbers ;) That was what this was trying to discourage. The disillusionment that comes from following chart analyst recommendations. No matter how I do it - let's say I opine that I prefer any of your lower entry points right now, someone reading this will want to take it and begin to make buying decisions on it. I suppose my posts of nearly 2 weeks ago that there was no recovery when many analysts were already calling 12K+ and other highs, kind of already made it clear I was expecting to see some lower numbers. And there's the article from Dec 2017 above stated that the retracement should not be as deep as 2014's, which was 80%, based on the model. But beyond that I don't want to replace following a bad habit of following someone else's numbers with another one of following mine.

But the answer is fundamental investing. Full understanding of what value you place on an asset. Take Steem for instance. Based on the fundamentals I bought in. I don't need an analyst to tell me an entry point.

But to be helpful if anyone is already bought best thing is to not panic and maybe wait out the downturn. But if they see more fundamentally valuable assets going by, then get into that instead. Just like if you were holding pets.com investments in the 90s and you see amazon.com going by. By all means move along with the more valuable fundamental asset with cheer and don't look back. If the fundamentals and the full understanding of the asset, the technology, and due diligence is done they would be better off in the long run and the space would benefit from more confident and informed investors supporting the tech they invested in.

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Thanks for your measured input! I knew you'd be a good person to ask because you'd give me reasoning rather than specifics, which is exactly what I like, haha. You'll be seeing me around. :)

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