Morning crypto friends,
Its not a fun thing when everything is dropping. I am a total newbie in crypto and last year I invested in few coins just seeing how it all goes and even bitcoin and steem. Every day for last several weeks, my investment just keeps dropping and dropping and seeing it every day is really tough and actually is making me quite upset.
I woke up to this SO CALLED ALERT on my phone.... not what you wanna see first thing in the morning!
Some of my friends told me to sell asap and just get rid of it all, but I decided its too late, i would lose money at this point if i sell anyway, so i decided to just leave it. See the chart for Bitcoin below
It will break my heart if i lose everything, as its all my hard work over the last year. But then I am trying to stay positive too and i guess there is only 2 options that can happen :
You lose all your money
You gain loads of money
I guess I have always been a risk taker and sometimes my gut feeling tells me what is right and what is wrong, at this point my emotions have taken over and i am not thinking so clearly. 2018 was supposed to start much better.... hahha :D
Lol, either way maybe its a good time to buy ? I saw something posted by @neilstrauss and it made me laugh!! Can someone explain human phycology?
It is actually such a good post, I mean really, we all talked about bitcoin rising and everyone I knew kept saying I wish I bought it sooner, I wish i bought it cheaper... WELL ITS CHEAP NOW!!!
Watch this video sent to me by @wingz it made me laugh and cheered me up! hahahah!
If you still need more motivation maybe watch this video by @joeparys , it actually makes a lot of sense and maybe I should be buying more coins?
Thanks for reading! What position are you in now? Are you feeling sad/ happy ? Are you indifferent, are you holding or selling? Its my first time through such hard dip, so I am taking it worse than most professional crypto traders!!
Need hugs! Alla xxx
You could perhaps sell some, maybe 10% of your holding. I got burned by silver stocks falling after 2011. I held on all the way down until I lost 99% of my money on some small silver miners. If I'd sold at a 50% loss (when I thought it was too late) I would still have been sitting on nice profits. Even if you sell some, you are still diversifying out.
However, you have to make your own decision based on your analysis, I'm not a crypto investor, I prefer gold.
yeah thats a good advice and I know what you mean, part of me thinks shall i sell at least a bit, but then if i want to buy more shall i even bother? i dont want it to be like sitting and holding onto the last hope if it keeps burning down and going down!! i hope its going to recover thou!
I suppose it depends on whether you need the money or not. If you can afford to lose it then maybe hang on. I've been saying for months that people should diversify some crypto profits into gold, it's not a certainty but compared to every other market it's looking undervalued. Keep an eye on my posts, about half of them are on precious metal analysis.
yeah i will check you out now! thanks! i know i wanted to sell when it was at all time high, but missed an opportunity, now i am diversified but not in gold or anything!
I like Gold @unclehermit ........... it is a pity that its price is isolated by the banks.
@unclehermit I personally believe that people should diversify their portfolio. They should not go all in on anything. I also believe that people should not invest in things that they don't know anything about. The main reasons for this crash is the later. Many who entered this market were new comers. Sadly many lost their money while the old investors held on to it.
The crypto crash is a healthy response to blind speculation, following the crash what should emerge are the blockchain applications that offer the most utility. Things like asset backed crypto's, smart contract applications and those that will power the internet of things. I'm personally sceptical of pure cryptocurrencies such as bitcoin, litecoin, monero, etc. Governments will work to ban them and better technology will replace them.
In my opinion, it's because crypto experiences such highs and lows that freaks everyone out. I suppose that's one benefit of FIAT.
I personally don't think that people who are heavily invested in Bitcoin would ever let it permanently crash and they actually can do something about it. I mean if you had 10 million in Bitcoin would you just let that crash? Ride the wave.. I'm with you!
Hahha yeah I know that’s true! I have a small suspicious that they wanna drive the price down so the big fish can get more at much cheaper price and then rise it all up again. I’ll stay strong lol just hard watching it all disappear every day :(
Yeah I get what you mean. Maybe you need to turn the alerts and stuff off..
HUGS!!!! Alla ❤💜💚💙
I am real new to all this too. I worked on a trading floor for a few years early in my career. I asked the guys some inside scoops on trading. Their answer 'buy low, sell high!' 😂 always a hoot with those guys back in the day. Don't risk what you can't loose, is another good one. HODL. I like that crypto jargon. Regardless what happens in the markets....everything is gonna be okay, if you have good relationships, food, water and shelter!! Much love to you.....and a dash of calmness ❤💜💛💚💙
Time will tell 🤞😊🦋🎶
hahah yeah i know everyone says that! well i am def holding now as its too late! :) thank you!!!
I totally understand how you feel, watching it go and reduce day by day. I do feel about that with Steem and even SBD too. Just stay positive. Everything will be fine. You can sell half and keep half just to keep your mind at ease a little. Investments are always like that sometimes. Stay positive. You will recoup all.
yeahh of course i didnt mention, but i sorta in my head assumed it about steem and sbd as well, as the posts are getting lower and lower and it can be demotivating! thanks for positivity :)
Very true. We will stay upbeat about it. You are most welcome. It will be fine.
I feel exactly the same way Alla but I've decided to stop looking at my blockfolio and just do other activities to stop me from looking and worrying. I believe now is a really good time to buy but at the same time trying to stay level headed and not make any rash decisions from emotions/fear of the red. I want to buy in more but think it is wiser to not invest anything more than I'm willing to lose. Fingers crossed hodling from now will pay off in the future.
yeah i know, im thinking maybe i should just ban bockfolio from my life for now! yeah its all the feelings that are here purely based on emotions right now! fingers crossed ;)
We're all in the same boat now! Just don't look and HODL
I think the point about human psychology is a good one. Fear and greed are two of the strongest forces in any market. This chart - "Stages of a Bubble" - might be useful in understanding the swings in the market over time: https://people.hofstra.edu/geotrans/eng/ch7en/conc7en/stages_in_a_bubble.html
Anyway, if it makes you feel any better... The U.S. stock market is doing poorly also. It had a bad day Friday and suffered a historic loss Monday, and now people today are very concerned about where it's headed. As I understand European and Asian markets are also down considerably... The point is: it's not much safer taking money out of crypto now and putting it into other investments. (<-- not official investment advice)
yeah i understand! i see your point and i guess maybe its just a bad start to the year, tbh all money gets devaluated anyway so we just gotta wait and see! i know its all fear and greed and then people get scared! :D lol !such a bad cycle!
haha good graph!!
Hold and patience and you will be fine.
Same here.but i am wait some time because i know bitcoin price up some time later
I will go with option two, I don't think it will crash and never go up, the crypto world has suffered several attacks before and it always bounce back and grow stronger.
We will all gain for holding during the down time, I wish I add more fiat now, I will buy more coin, i see everything bouncing back and stronger.
Sometime in the future this same people will wished they bought now, but it will be too late by then, we will just start counting our profit.
Hahah yeah I know what you mean! It’s good to see so much positivity here and it makes me slightly less worried! Maybe it is time to buy more at this dip!
Yeah I think, thou, not a financial advice but just my own opinion, I think its time to buy, buy and buy.
That @neilstrauss tweet nailed it perfectly on what I was going to say. It's just the irrational human mind doing stupid short sited things because for some reason, a whatever trend is going on, we think will last forever. In 3-6 months later people will be kicking themselves for not buying the fucking dip when it finally occurred :D Now I'm in observing mode and ready to start sniping some discounted crypto on sale; bought some STEEM earlier at $6 so it's a good opportunity to lower my buy average.
haha yes i know! its really bizzare to me! i know i will be buying more steem for sure, as its pretty solid and has a lot of backing and pretty amazing as a coin itself! time will only tell what happens in the future!