Market Correction: Buy the Dip!
This morning as the panic sellers fled their position in Steem and TenX I was buying that dip. I'm not saying we are done with dips, maybe the floor is still further down but here is my thought process for those who care:
- I have faith that Steem and TenX will be huge in 2018.
- The price on both these projects fell more than Bitcoin over the past 24 hours.
- The price in USD on both these projects was at or near the price point I consider CHEAP, earlier this morning.
Therefore I took all my bitcoin, which was a few thousand dollars and put it into these projects which I believe have more room to grow in 2018, have a functional use case to support their continued growth, and I am very happy I did so because both are climbing as morning fears subside.
My investments in 2 hours went up $1,000 USD and its only because people were panic selling good projects like Steem. Be patient guys. Take a break from looking at Coinmarketcap, particularly if it causes you fear or anxiety.
The crypto market is not going to zero, it is going down, and later it will go up. Panic selling is never in your best interest. The only people who lose is those without a plan, and or those who FUD or FOMO. Take a breathe, have a plan, follow through with your plan and then even if the plan goes haywire take solice in the fact that you did what you logically could to best prepare yourself for success.
I believe this is wisdom that we can apply in any part of our life, not just crypto investing. I hope you enjoyed this content. If so please up-vote, comment and follow.
What I love about Steemit is it's a long term investment. It's relatively safe because this is where future "social-media" is headed. Platforms like this are only going to expand and become more popular. I only have a few hundred in bitcoin - I've left most of my Steem alone to grow here.
I'm thinking of moving the small amount of bitcoin I have into another coin. Any advice?
Honestly. 90% of my money is in TenX, Ripple and Steem. That is because I have thoroughly considered these three, and see them as having a real world use case that will draw attention, and growth of the token. They all have a product you can use today, not just some great vision for the future, which is what most tokens are selling at the moment.
In my view, if it doesnt have a use case today, and a revenue stream already, then it is a speculative investment. TenX, Ripple XRP, and Steem all have a product that works, and a growing audience. So if I had more money to invest I would look at these three very closely.
There are other great ones, but these are the three Ive chosen.
Do your homework, watch lots of videos online before buying, and of course when you buy, wait for dips, and then stagger your buys so you dont put 100% down in one purchase. Dollar cost average your way in to a nice position with someone you like.
Good luck!
Thank you so much! I will do my research in ripple and tenx - never heard of either but I'm new to this. I kike the real world value idea. Thats exactly why im here on steemit. Thanks again for the awesome reply!
Great writeup my dude! And great tactic what you did, I should be looking into TenX as well!
Thank you for the advice
They have a revenue stream, and an operational project, with plans for expansion in 2018. Add to that a team that is very clear, well spoken and public, that gives me as an investor confidence. When you invest you should trust the team, and see potential for the project, in TenX I have both.
Also TenX has been around $2 +/- for weeks and weeks, and now of course its up, but not crazy up, meaning in my mind its under priced compared to a market where so many projects without any real world use, and nothing more than an exciting white paper, are 10X.
Im no expert, but yeah, I like TenX. Check them out. Check out Julian Hosp on Youtube, he is the co-founder and he posts regularly.
Sure...its gonna b huge in 2018...u are prophet!