Bitcoin Touches $6K - Rumors Of Lexiconical's Demise Are Much Exaggerated, Unlike My Portfolio
My brief Steemit sabbatical (owing to reasons of intense drama around these parts, and a backlog of side project work I have now knocked out) is in the "winding down" phase. Keep an eye out for an open forum post, where I'll solicit questions and future post topics. Many thanks to those who sent well-wishes via Discord.
Many anxious followers are suddenly DM'ing me, given the crypto-market crash. I'll try to get a post out on this soon (tomorrow), but for now I'll just say:
- Looking at a $6,068 handle on my Bitcoin chart right now, and I think the worst of this is over. $7,000 is the last price Bitcoin was at before it went straight up to $20,000. A correction to, and past (in this case, lower) was to be expected. And hey, we can only lose about another $6000 anyway, tops!
- You can't lose until you click the sell button.
- Bottom calling is for chumps. (Oops.)
Also, I'm working on getting my auto-voter rules set back up. If you were on my auto-voter previously, you can expect a possibility of being lit back up over the course of the next couple weeks on my voting rules.
Special thanks to those of you who have been chatting with me via the comments this last month, while I was bunkering down from the Haejin (and more) drama. I'm hoping now that we're all directly losing money together, we can give up the witch-hunting over the hypothetical rewards that were never ours to begin with.
Then again, sending the FBI to people's houses may be too juicy to give up!
Sources: Shipwreckaway, or something like that.
Welcome back Lex, we've been awaiting the return of our comical genius with mild logolepsy...
Huge bonus points for vocab. I've literally never seen "logolepsy" used!
From Google:
"A case of logolepsy is easily distinguished from the perfectly sane mood which demands and imperiosly seizes the pregnant sign, and makes it the exponent of a hidden power."
Irony.
This is some insane market movement. I panic sold 20% of my bitcoin but I am holding the rest. I am to scared to even open up my portfolio to see the losses. Then again you dont lose any coins unless you sell.
I actually recommend doing exactly this. There's no reason to watch the price if you aren't going to dump.
I couldn't agree more. I only watch my portfolio when its in an uptrend. In corrections, I only look on coin market cap to see value of total market cap, value of Bitcoin, so I know when to buy more try to pick up some great deals. But I stop updating my excel tracking sheet and loose no sleep at all.
Good read
Sadly, I see many false logical constructions regarding investments, and particularly regarding cryptocurrencies.
XIV. Enron. Lehman Brothers. The list is long, and repetitive.
I'm not making a prediction. I'm not invested. Don't listen to me.
Just don't float your boat on denial.
I truly, honestly hope that cryptocurrencies wrest control of the world financial resources from the profiteers now in possession of it. I am certain that won't happen by ignoring history.
Good to finally be able to comment one of your posts again =)
don't win until you hit the sell button, also ;)
LOL
Now you're mocking me 'cuz I don't spend Steem =p
But, you're right. No one ever lost money taking profits.
What are you gonna be writing about, do you have any massive projects lined up, or is it a bunch of backlog meant to write catch up? Inquiringtimes wants to know! :)
No post backlog or anything. I may take requests for some topics in the near future. I'm trying to pace myself and avoid burnout, so I'll probably post whatever flows most easily, after I address the crypto crash. I'll probably do a best of 2017 post, too.
wow, amazing to have a clean slate, I wonder what that feels like... I've always got more that I want to write than time in the day
Great to see a post from you... Looking forward to the continuous enlightenment... This is probably a bullish catalyst for Steem moving forward
I sent two crews of herbalife sellers to your house.... and nothing!
Maybe they got me.
How do you know...that I wasn't out selling Herbalife all this month?
Good to have you back brother Lex! Your presence and writing were missed, since I know this is a long race, I'm just chewing my popcorn, and holding til' sunset! Cheers mate!
You've got the right attitude, but some people are freaking out. Bitcoin tends to do this like clockwork every 1-2 years, and January is always especially bad. We'll be ok.
I see this the same way...
I think it's been said before (by those wiser than me), but here it is anyway for the hell of it.
Don't invest anything you aren't willing and able to lose into crypto, because there is a possibility you could lose it all. The crypto markets are highly speculative.
There I said it.
And that said, I've been watching the $6,000 level for potential support and a rebound, but if that support is broken the next stop could easily be in the $3,600 range.
"Don't invest anything you aren't willing and able to lose"
I'd say this goes for every single investment. If you don't want to lose it, you need to SAVE, not INVEST.
They're different.
Certainly that's true of every single investment, but there's a continuum of risk to consider in your investment strategy as well. Crypto investing carries significantly more risk than bonds for instance, although there is certainly a wide continuum even within that investment category.
Saving is all well and good, except then you're simply losing value to inflation. And yes I agree they are vastly different.
And I see we hit a low of $6,048.26 today and are currently in the green back over $7,000. Close enough to $6k for me and pretty damn lucky call, although I'm not saying that was 100% for certain the bottom.
Lexiconnnicaaaall...I'm sooorrry!!!
If you watched th movie you'd get that joke. Glad to hear you're back. Hope your sense of humour is in better shape than our crypto portfolios.
Cheers! :)
I think I almost get the reference based purely on cultural osmosis.
Cultural osmosis is a powerful force.
But seriously, go and watch the movie you ignoramus. It's a classic ;)