Crypto Crash!! - Grab your balls cause it's gonna be a long one #441
What the hell is happening with crypto's now? I have just checked coinmarketcap to see almost everything is down double digits.
.
.
I hear alot of people saying this and that but who really knows? Pretty much the whole of 2017 was an easy ride and it is time for the pullback i think. I would not be surprised to see $1 Steem and $4000 Bitcoin again. Crypto's went through a rough 14-16 months patch just after mxGox happened but it came back stronger. Looking back on bitcoins last big bull run that happened when it went from $100 in August 2013 up to around $1050 by the end of November that year. After that the price tanked for 13 long months when it went all the way down to $200 by January 2015. The next 2 years look
like bitcoin went almost sideways with a small uptrend starting 2017 valued at around $1000. We all know what has happened the past year when with it's ran to just touch $20k before it's epic fall to where we are today at around $9800.
I believe that history repeats itself and these things run in cycles. Problem is crypto's are still sorta new and alot of what i have in my portfolio may have gone bust by the next bull run comes around. When the mtGox crash happened, the top 10 ranked crypto's looked a little different than it does today.
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10- Darkcoin - $11.4 million marketcap with price of $2.36 (Known as dash now)
9- Maidsafecoin - $11.9 million marketcap with a price of $0.03
8- Peercoin - $16.2 million marketcap with a price of $0.74
7- Nxt - $17.9 million marketcap with a price of $0.02
6- Counterparty - $19.5 million marketcap with a price of $7.38
5- Dogecoin - $21.1 million marketcap with a price of $0.002
4- Bitshares - $30.6 million marketcap with a price of $0.02
3- Litecoin - $127.7 million marketcap with a price of $3.76
2- Ripple - 156.7 million marketcap with a price of $0.01
1- Bitcoin - 5074.7 million marketcap with a price of $375.49
You can see Bitcoin's complete dominance of the game back then, the poster child crypto has lost alot of market power since then. If history was to repeat itself and we would get a slow complete market drop until 2019 then 2 years of slow steady upward growth to hit $18-20k again. Who knows which coins will be thieving, driving and surviving by then.
Today's top 15 by value- We like the pain
Concerns about the future of Steem vs SBD ratio
From the 21st November until the 21st December the SBD went on an crazy run from £0.98 to over $14.00. We was all dipping in cash, getting 5-6 Steem per SBD from blocktrades, everyone was posting like crazy to cash in but were down to around $2.90 today. During the drop in price of both SBD and steem over the past 2 months i have noticed that they almost run synced with an almost even ratio give are take 10%. My concern is if they both drop way back down to $1 and then the crypto bull arrives, does the SBD follow Steem this time round are whatever way it happended? are will we be converting $10 SBD's for 1 $10 Steem. My core concern is will Steem become harder to earn as new members and more people use the platform.
On a side note, i have started to mine Bitcoin
I had a few issues in the beginning
But overcame them. Here i am with my new lambo
And at the font door of my new mansion
No more throwing nickle and dimes at the club for me
My friends have changed, they dont get me anymore
I think they are jealous
But i cant figure out why, my life is going great
Beefed up my passwords to keep it save
Its nice to day dream about being a bitcoin millionaire miner, life would be good
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Maybe somebody will tell me when the hell it will go up? :D
Anyone that tells you something is deffo going to happen in crypto is full of sh*t. I buy what i like from research.
But i think it could be a good time to buy some stuff right now.
I don't think we are going to see such a long bear market. The whole crypto sphere has changed, becommed much bigger and the few serious projects with real life applications are going to have a great year. This is just part of the usual price manipulation for the big players to accumulate more before the next hug bull run that is to come. If you look at past years, this is the time to buy, second half of the year will be the time to sit back and enjoy the view. At least that's what I believe. Cheers!
I hope you are correct. You are right about everything changing. When the Gox crash happened, nobody knew about bitcoin. This time round, everyone has heard of it. My main holding are coins with their own blockchains with the idea that these are more likely to survive through each cycle.
Thanks for your great comment buddy
Time will tell my friend. Hopefully April will bring some green back, anyhow I guess the best approach for me is to pick solid projects which I feel comfortable to hold long. Diversifying into different blockchains seems clever. Best of luck!
I hope so as well .
Good luck to you as well bud
Love the sarcasm and tone of your posts man. I missed it while i was off
Thanks buddy. From bitconnect went down i have not had alot of post about crypto wish. I do enjoy writing them. I mostly do steemsilvergold group posts are silver related. These are a nice break,
Good to see to back, i think i seen you comment on something yesterday.
Yeah I’m trying to get back into things and get going again with my account. Things in life just popped up and kept me busy
I might have a few more crypto related posts coming. I looking idea's for the march crypto group buy. You seen any small marketcap good risky-ish projects lately?
I’m not sure. Ive kind of been out of the crypto game recently, but ill let you know if anything pops up. I’m just now starting to ge back to the regular routine of things
Ive started a voting post for the next buy. The 3 coins to vote on are bean cash, okcash and smartcash which i think looks the best. Anyone can vote, you dont need to be part of the buy.
We gotta remember how to spell CRYPTO ... first we all CRY (a lot) then we earn the PTO (paid time off). I've bought on the last 2 dips and this time I'm going to wait an extra day to pull the trigger to get the dip of the dip :):):)
Dip of a dip, love it 😎
I like the annogram
Great post you really do have a gift for writing. I think this is just another dip before it goes up. We all got spoiled with the fast rise in crypto. Think it will be more methodical now. But I am just a farmer so don't take any advice from me other than to keep stacking silver;)
I remember from 2 other bull runs and i think 2017 was the most insane. The price may not have gone up as much in percentages but the hype this time round was different. Before there were only a few good coins and the total marketcap was under a 10 billion. This time, you know the selection out there. And then bitconnect, youtube and main stream media.
I fell out with Bitcoin after i lost all mine with mtGox and then started back into crypto after signing up with steemit. Basically 95% of my crypto has came from Steemit posts :D And im just a simple baker my friend. Silver will always be my bottom dollar bi**h.
Thanks for commenting buddy
There were multiple negative reports:
Yet the market didn't drop too much, I think it's an indication a lot of the money in the market is long-term holders who are becoming somewhat immune to negative price catalysts.
Thanks for great reply man,
I guess you are right about long term holders getting used to the pain. Sometimes we like it cause gives opportunity to play the ratio game
Did you make it to the moon though?
I got all my investment out and then bought around 80 oz's of silver with some profits. I could not care if they all went to zero tomorrow. Silver would moon and i'd be a happy boy 😎
hahahahaha
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Enjoyed reading that, even missed last minutes of the footy. I am wondering if sbd will gain momentum again and I see it being a real struggle for new users, especially hitting bandwidth errors and low return on posts. I am wondering what future delegation will be given to new users as I believe it used to be 30sp that was never undelegated and now it is 15sp thag is reduced every time you power up. I think the only way to get started now will be to buy or lease sp.
I brought around 200SP to get me started 8 months back. Its interesting to think about 😎
Thanks for commenting, footy was piss anyways
There goes our dream of being millionaires. We both know that it's a marathon and not a sprint and at least we have started the race, where we will finish is anyone's guess but you can never say its a dull ride
Bro, we could have $100k accounts in a few years, no shit.
Adding 25 SP a week from post payouts and converting steem adds up to 1200ish a year. Grind it out and stay consistent and in 3 years from now, we have around 5000 Steem and the price should be at least $20 by then with a marketcap of 5 billion.
That is how my simple mind works. 😉