Amazingly quick recovery after crash, Bitcoin now hitting $12,000

https://www.cnbc.com/2018/01/18/bitcoin-ethereum-and-ripple-make-comeback-after-crypto-sell-off.html

So it looks like some whales panic sold and now they're getting screwed already! That was fucking quick! I seem to be getting better at not panicking and going along with these sell offs because I didn't even blink and try to dump my Steem or anything, quite pleased with myself. It's not a huge amount but I'm absolutely determined to keep building a stash out of it because I'm convinced the Steem price is going to go ballistic at some point.

It looks like other people on the cryptocurrency community are in complete agreement with each other even though they're not necessarily talking to each other.

"When the price of bitcoin drops, there is a pattern of traders that move to take different positions, either in another cryptocurrency or in fiat," he told CNBC.

I love how that's literally what I was saying in my previous post about the price drop :D

Panic selling easily has to be my biggest annoyance and flaw when dealing with cryptocurrencies, I used to panic a lot and it's something you have to watch out for. If it's money you don't have to worry about you'll be fine, however if you're putting in a large sum of money that you can't really afford to lose then that will affect your judgement quite badly.

This is one of the reasons I like Steemit so much, I'm actually earning currency, I don't have to worry that much about the price drop because the only thing I'm putting in is my time in order to build up a stash. This means I make calmer decisions and I'm not about to hit that sell button over a price drop like this especially if it means I can make a lot of money later on just by being patient.

Note: I am not a professionally licensed financial advisor or trader, seek extra advice from a professional if you intend to invest in cryptocurrencies, your trades are your responsibility. Be sure to talk to somebody who knows what cryptocurrencies actually are if you do intend to talk to a professional.