Ooooooh FUDge! Buy the dip...or don't
It seems our Asian friends are at it again with their regulatory news cycle FUD and every single coin in the top 50 is red. I didn't bother scrolling further down. I'm sure maybe one thing might be green but who cares. And yes, our beloved STEEM is down just like everything else. It's around $4.37 at the time of this post.
This is reason to panic sell for some but I've seen movie before and I know how it ends (though it may be long) so I bought close to $1k worth total of a couple of coin this morning. The early bird gets the worm I guess.
This is only speculation on my part but I think we're going to see a V-shaped drop then recovery then who knows what over the next week or two as those who aren't afraid to buy when there's blood in the streets hand their fiat over for crypto. Hell everything could make up the losses today. It's happened before in 24-48 hours on such dips.
Since it is right after the holidays (Christmas or whatever you celebrate) which are expensive for many, a lot of people are tapped out on funds to invest so maybe we won't see it bounce back as quick. But when US tax refunds start coming in late January / early Feb you bet your ass money's gonna pour in.
I also found this piece about Wall Street types getting bonuses soon and some of that money could end up in crypto land. Could all this be orchestrated so big money can get in a little cheaper? Check out a sentence later in the following article.
https://cointelegraph.com/news/crypto-market-suffers-from-uncertainty-in-asia-losses-up-to-40
From the article--On the subject of future positivity, this week’s Wall Street bonus allocation, tipped to spark a mass influx of cash into cryptocurrency markets, comes at a time when the potential for short-term profit is all the more visible.
Ya think the two might be related? Nooo...Big fish never collude with others to scare the little guys into handing over their coins at a loss or smaller profit do they? <-----sarcasm
Fear not my friends. HODL, just don't look at it if it bothers you, or do whatever you do to cope with red days like this.
- Disclaimer: This is not a suggestion to buy anything, only my perspective. I am not an investment professional and I cannot predict the markets. Never buy anything (especially crypto) without first doing some kind of research / due diligence or consulting a financial professional. This is for entertainment purposes only.*
I read somewhere that there is many people buying cryptos with borrowed money - these are very weak hands as they cannot allow them selves to buy and hold. Nonetheless, it was clear that corrections like this one would happen - it will not be the last one. But hey, it offers long term investors an excellent entry opportunity!
Yeah that’s not a very smart thing to do borrowing to buy such a volatile asset. I’ve read ppl are taking out second mortgages and everything. The money I put in is my own and I can afford to lose every penny. I might cry over it a bit but after that’s over life will go on. But I don’t think that’s how it’ll play out.
I think this dip is a necessary correction like you said—hell I never expected the XRP I bought from $0.20 to $1.20 to hit $3 I’m December Or XLM i started buying at 2 cents hit close to a dollar. MUCH needed correction. And this gives the Wall Street types the perfect entry opp if they wise up and grow a pair.
Absolutely right. All you have to do is look back in history and you will see how often this has happened already. The problem for many late comers which look back in time is however, that the non logarithmical charts hardly show the high volatility of the past. Because in a chart it early makes a different if a price has gone down from 1 to 30cents if you are now trading at more than a 1000 - it will just look like a straight line.
You are absolutely right, there could be a connection between the massive fall and Wall Street, but who knows.. Still, we've seen these drops so many times, they usually last for a few days, or a week, and then 3 weeks later, we are even higher than before the drop.. So buy, or at least hodl... That's what I'm doing!
This reminds me too much of the day in July when bitcoin dropped to $1700 on a Sunday and I thought about buying a whole coin but I didn’t. Ethereum dropped to $135. Didn’t buy. Regretted that just two days later as the markets surged right after the dip.
Guess we've all been there...No need for panic😁 at least not yet👍
and its going even further down this morning. I think the best strategy is really to buy a little bit every months - an amount you can afford to lose. Something you would otherwise spent on cigarettes, booze or whatever. Makes your life healthier and you will make sure that you buy little when the price is high and more if the price is low.
Bought the dip
Can btc hit 8k ?
Anything can happen but there’s a lot of ppl with bug limit orders between 10k and 12k. Probably some have stop losses there too so it’s anyone’s guess. It could happen though. And if it does I’m buying more.
good job ♥ thank you for sharing ♥ following you ♥
What's wrong with Asian people, we are always the agent of FUD. We need strong hand to go with the storm.
Oh nothing is wrong with Asian people, there’s just been a lot of negative news out of China and S Korea the past several months that help trigger these dips.
That’s why I said “our Asian friends—I meant that. We’re all in the same boat and the news cycle from the Far East part of the world has presented me with great buying opportunities for months now and I’ve profited from it greatly. So I really did mean that in a good way.
Market lagi turun. Banyak yang rugi
Time to buy!!