20% drop of most Cryptocurrency | Bitcoin at 2.400 USD |
Dear Steemians!
I think today again it is some spooky day for all of us, who are invested in the cryptomarket.
My whole portfolio went down about -20% in less then 12 hours, and im not invested in a few coins, so there is enough diversification. Just to call some;
- Digibyte, Steem, Ripple, Siacoin, Ethereum, Doge, Ethbits, Humaniq, Waves, Ardor
I red many threads about disappointed people, who have fear and start to sell their coins. I want to give you some device my friends. If you sold at the high, good job.
If not, keep your coins, dont sell into the falling market, i think you will be much more disappointed if you do this, then now!
Well, i think some of you know this sentence.
,There is money in the air, if the blood runs in the streets.'
So if you have some money left, dont be disappointed and see the drop as another opportunity to buy in. I will do so in the next days. To come back to the quote.. I think you know Warren Buffet, and for me most is about one simple think.
If the crowd is exited and all of them want to get something, it's time to take your money with you. When they are running away in fear of their money, there is your chance to place new initial.
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Make clear, this is no professional advice. Im just some Dude interested in CryptoCurrency, believing in this stuff. I think the drop could be as hard as you can imagine, there will be the longterm profit. It's about the vision behind...
We just saw the market dropped to 100 billion right now, it's still some incredible increase since the early days of this year. I could imagine the market to continue dropping to about 90 billion, but thats some really speculative point. I would like to hear some thoughts about this point, im thinking about the timepoint to buy..
Okay, let me give you one last advice for today. Keep calm & relax, enjoy the great weather and don't let the panic take over you. There will be better days, maybe not for buying in, but for selling ;)
Hope you enjoyd this quick update. Maybe you think im wrong and have some other view? Feel free to tell me in the comments!
BS
Great time to buy!!!
Maybe wait a few days and buy in in some little steps. If there is a bigger drop you have some chance to react.
What people dont understand is Bitcoin was intentionally designed to NOT be scalable. Scalability is the most fundamental design criteria whenever any software is designed for the masses. The reason given to the average Joe is that the miners don't want it to scale because doing so will reduce their profits. The real reason why there is an opposition to scaling solutions for Bitcoins is simple - the memory pool is being used by the big boys for inside trading.
In the very long run, there will only be two dominant crypto-currencies. Which two? time will tell. But why two? whenever choices are presented to the people in any facet of society, from carbonated drinks to political parties, there are always two dominant ones and possibly many other alternatives.
The next few weeks cyryptos will take a bloody beating, panic selling, lower lows and the crypto market will indeed recover, but the wounds will be so traumatic. The trauma will lead to more 'gittery' future investors, ones who have little trust i.e this coming crash will create the weakest hands the crypto world has yet to see. I believe cryptos will recover after the crash, but the recovery will be slow.
Just know that if you panic sell in hopes to get in at a cheaper price, yes you may get ahead, but you are ultimately slowing down your long-term objectives since your panic sell contributes to the price dips and ultimately to the negative volatility perception, this in turn will make future investors(who you rely on) more skeptical to jump on the crypto space.
You can think greedy (and self destructive) by selling your cryptos or you can do the community and (yourself in the long-run) a favor and hold your crypto As we say, "HODL" (HORD+HOLD)!
I think you could be right with the crash, not to say i hope you are right. But im not really believing in a big crash as we seen the years before. There is much more interest and yes, there will be feared people, that panic sell but i think a whole bunch understood the long term perspective is the important one.
I hope we will both do and i wish you great success. Think HODL is a good word ;) Let's hodl our stuff @calmanalyst
This is the best time to buy Cryptocurrency!
maybe not the best, but a really good time my mate ;)
dont panic guys! downtrends need to happen for uptrends! good post, followed
Jeah, thats how it works... panic is the opportunity ;)
You are absolutely right. It's almost like the normal stockmarket. Buy when others are afraid, sell when they are greedy.
Well, i would not say its like the normal stockmarket.. Its still in the early adoption so there is a bigger up and down then in the regulated markets..
yea sure the volatility is way higher than in the stock market.
PANIC BUY BUY BUY
Nice gif bro, and yep, that is how it works. Maybe it drops bit more ;)
Great post. Thanks for sharing.
You are welcome my friend ;)