RE: The Post-Futures State of Bitcoin: Day #21
A good article, thanks for posting it.
I've about gotten to the point where I try to discount a lot of the stuff I hear about Bitcoin. So many people try to act like experts, but I have to wonder, 'can there really be any experts on something that has never existed before?' They're all over the media, YouTube, everywhere you look. I see these stupid ads too, that say stuff like, "Ten Times Better than Bitcoin!!" We don't know for sure how good Bitcoin is, so how do they know that their coin is ten times better?
I don't have a lot of Bitcoin, but I've decided to just hold what I do have for the long term. Although, I may take a little out to purchase some Steem, in order to power it up and get me some voting power. Can't have too much Steem Power. lol
Bitcoin could very well go to $5,000, or even lower if people panic, or just suddenly lose interest. There's A LOT of other coins and tokens getting a lot of attention right now, so there's probably much less money going into Bitcoin because of it. Yep, it may go to $5,000, but it may go to $50,000 too. This stuff isn't for the faint of heart, or anxious traders.
HAPPY NEW YEAR EVERYONE!
2018 -- THE YEAR of STEEMIT!!
In one of my analysis i wrote:
This quote points to Crypters stubborn nature. We Crypters are akin to HODL and we have no fear of big waves or as a sailor wisdom says:
So We are hodling no matter how big waves are and how deep dips are also.
You don't deserve 400% gains if you can't handle 50% dips.
Hodl indeed! I told myself I was gonna hodl everything I initially invested in, and I did, except for SALT. I bought it at ~$3 and it stayed there, barely moved for about three months I guess (or so it seemed). One day I decided that it was a good idea to sell, so I did. Literally, the next day it took off. I got back in at $9.44 (I don't forget that number), so I'm still doing okay, but I did lose quite a bit. I know at one point it was well over $14, maybe even higher, and it's still at $11.85 as I type this. I'M A HODLER FOR LIFE Watching the market is enough stress for me, I don't need the additional stress of being a day trader, especially in cryptocurrencies.
Here I come on scene. I'm dedicated to my charts. Try to predict prices as accurate as possible. If you need a personal advice just drop me a comment in my analyses posts and together we will handle the problem.
Also I will be very grateful if you can recommend me to your friends and followers here on Steemit. At a moment all I got here, is from my rewards because I have some financial obligations in the fiat world and haven't any spare bucks (my case euros, cause I live in Slovenia-EU) to more heavily invest here in crypto world.
Thanks be my mate!
Yes sir, I'd be more than happy to recommend you. You're correct on these people saying things like, "When bitcoin falls, and it shall, it'll trade under $5,000... Whether it does it next week, next year, six months from now, it'll happen. And then I think we'll find at the margin money that had moved into bitcoin and away from gold will move away from bitcoin and into gold, I ignore it too. Yeah, I'm sure there are people/groups that can affect the price of Bitcoin, even greatly affect it, but I don't believe anyone knows for sure what it's gonna do. Many investors in Bitcoin, I believe, are a completely different type than those that have invested in the NYSE for many years. I'd bet that they are more likely to be react irrationally to FUD, and FOMO. These people, for the most part, aren't predictable, yet.
We have these so-called Bitcoin experts crawling out of the woodwork, but I don't know how you can even be an expert on something that is new. Bitcoin has been here since 2009, but it had little value, and just about no one had ever heard of it or used it. It's one thing to do what @tombort, and others do, analysis, but it's quite another to just spew out FUD like many of these other people. I value their opinions about as much as much as the nut-jobs that pop-up from time-to-time to tell the people that the world is about to end. It will end, but I doubt some crazy person will be predicting it.
Very good point. We have to be cautious in our words and fearless in our thoughts.