The Last Great Crypto Sale?

February Bitcoin Crash for New High in 2018 Crypto Market Cap

MendoCrypto
February 5, 2018

#BitcoinBloodbath #MendoCrypto #CryptoEvangelism

Yes, as I'm editing this at 2:32 PM Pacific Time, it appears as though the BTC/USD freefall is stabilizing somewhere in the low $7k range. While scrambling to incrementally buy the dips, I began to wonder how "dippy" we were going to see this market get. To my knowledge, the bottom of the trough seems to have occurred around 11:52 AM at $6,614.44. I couldn't believe my eyes. My fingers had executed this screen capture before my mind was able to process what was happening.

I suppose that seeing the price stabilize for now in the low $7k range is a comfort to some, an opportunity for others, and a pretty massive haircut for the guy who went "all-in" the week before Christmas. From the all-time high of $20,089.00 on December 17, 2017 to today's low of around $6.6k, how do we remain so fiercely bullish in this brutal and volatile market? Is it ignorant, naive, or visionary to invest in a future we desire as opposed to perpetuating and enabling a present that is overrun with abuses?

That's nearly a 70% decline in the 50 days since the glory days of December. The funny thing is that many (probably the majority) of cryptocurrency enthusiasts would fill the orders with bids for more BTC on Coinbase, Cryptopia, CEX.io, EtherDelta or whichever means of acquisition is most expedient. We'll continue to do this even while (and especially while) the price is falling to the floor! Why? Because we understand the value proposition of decentralization on a massive scale. Transcending the inevitable corruption and vulnerability of centralized powers becomes necessary when the thirst for individual liberty is repressed through corporate astroturf and government propaganda. The youth are based bulls for blockchain. They want more.

Most of my friends who are interested in cryptocurrency are not viewing their investment in the blockchain and web3 technologies from a purely analytical logos perspective. Many of us would probably define our interest in cryptocurrency as being as much ideological as it is economical. I think this is fundamental to the psychology of markets and particularly to battles that are being waged on this ground. The ideologues are burning to turn this market around by buying Bitcoin and Ethereum at a 70% discount! However, most can't because they've already bought the last dip so they're mostly missing the crash-buy opportunity.

Interestingly, this particular "market correction" may be the last real bargain basement discount buy-in opportunity for the mainstay cryptos like BTC, BTH, ETH, & LTC. I can imagine a situation where the market recovers as the greater crypto market capitalization grows after a bunch of USD cash-poor cryptokids evangelize the opportunity that they're missing to their parents and boomer friends, conveying their unwavering conviction and optimism for the decentralized future. Will that be enough to fuel the worldwide exodus from fiat to crypto? It doesn't matter. It's going to happen anyway. We have proof of concept and we have a growing socio-cultural consensus among the millennial generation.

Idealism, innovation, and exhaustion with the status quo are the makings of more bull markets on the near horizon. Cryptos will boom as millennials evangelize blockchain to boomers so they can profit vicariously from this huge dip! This is one of those days we'll be able to spot on the max graphs for years.

Setup your account with Coinbase to purchase bitcoin ASAP (while it's still "on sale"!)

Use my link: https://tinyurl.com/mendocryptocoinbase/

#MendoCrypto #MendoCryptoBuyTheDips #BuyTheDips #CryptoEvangelism
#Bitcoin #BTC
#Ethereum #ETH