Time To Buy Or Are We Not At The Bottom?
What a week we are having in the crypto markets. If you've been around for a while, you get used to these and see them as buying opportunities. Some people just bought into the market the last month and don't have any more to invest in the lower prices.
Here is an actual GIF of the market taking off then falling...lol
(Source)
But how long will the prices stay like this? Are we even at the bottom of this drop?
Here is the graph for the last week.
You can see we started at $750 billion market cap and we have dropped to below $550 billion. That is a pretty big drop if you are new or used to trading stocks. Here in the crypto world, it happens. You know what though, it always shoots right back up... after it has hit the bottom.
Right now everything looks so cheap... if we think of the prices in the last month. If you compare to prices in early November, everything is expensive. We had a massive run to end 2017 and start 2018, but the market has to correct. That is happening.
I do think we are getting close to the bottom but we might have another couple of days of a sell off and then a little rally. We could lose another 15% or so before things start to pick up again. What I am doing is buying the coins that I like, things like ADA, XLM, SC, DNT, GNT and ANT, on the way down in smaller increments so I don't have to time the market perfectly.
Whatever you buy right now will be way up from where you bought it in 6 months from now, but you have to be patient. That is the hardest thing for me too, but being patient pays off. Buying now is great, but if you can't, just hold.
Remember I'm not a financial advisor, the blockchain is built for people to be responsible for their own gains and losses. Do your research, but as I look at this market, I see buying opportunities for the next week. Just remember to buy in the red.
Good luck!
What do you think? Are we at the bottom of this sell off?
Let me know your thoughts in the comments below.
Graph from Coinmarketcap.com
If you're freaking out about the markets and seeing your coins in the red? Read this...
Thank you for reading.
Made this today. It's time to buy baby!
That's right; It's SALE time!
You get a discount, you get a discount, you all get discounts!
HAHAHA that is great!
Nice graph
It gonna change for better.
I feel the same im still buying even with my blockfolio down 30%. Gotta fill those bags and get as many coins as i can. Rebound going to be nice this is the Jan dip so im not worried just hodl and wait out the storm. ADA and XLM are great buys right now.
thats good
I’m used to looking at stocks and seeing your portfolio bleed 20% by the day makes alarm bells go off everywhere, but I keep having to keep my eyes on the prize for when my investment will hopefully double if not soar higher. I suppose we just have to stay strong!
That GIF is just hilarious. I believe the price correction is a healhy one, and indeed a great opportunity. In the long run it doesn't matter if the bottom is here or 15% lower.