Crypto Bounces, Evaluating the FUD Behind Us

in cryptocurrency •  4 months ago

The Crypto Market has bounced nicely after getting demolished, but what does it all mean going forward? While I'm a bit uncertain of the short-term horizon, I do remain very bullish on long-term opportunities in crypto. As I evaluated my "feelings" from the previous bull-run and subsequent crash, I've noticed a few things that I think might help you as well.

Also, let's talk about some of the FUD that's recently come out and how I analyze it moving forward.

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Given the price volatility, I no longer consider crytpo value when I calculate my finances. Its too hard to see the value 10x over 6 months, and then crater for a few. I also struggle too correlate the value of a crytpo in anything other than fiat value currently. Removing it from view has made me less emotional and so far less likely to act in haste. Typically my quick national decisions have been my most costly.

Cryptobobby, thanks for your insights after the 💥 crash! 👍👍

Thanks for the information,pls upvote my latest post.thank you

It's really comforting to see almost all top 100 crypto's in green @cryptobobby ! and also E-coin to the mars :-D

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Yes. Still a great time to buy. Everything is still at a discount.

Coins mentioned in post:

CoinPrice (USD)📈 24h📈 7d
BTCBitcoin8647.640$4.14%-1.03%
ETHEthereum869.653$7.08%-4.36%
LTCLitecoin158.885$7.64%23.06%
NYCNewYorkCoin0.000$20.33%36.4%
XRBNano11.852$5.13%-30.76%

Thanks for this cryptocurrency news update providing....... i appreciate this post....

I am quite concerned about the downturn of cryptocurrency. When does that happen? Can not say anything.

Thank you for another great video! I'm happy to see this market bounce, look like my last "shopping run" paid off. I bought few alts, and they are all up. I'm just watching the market, if I see BTC increasing steadily, I may sell some of them.

Emotions always impact investing unless you leave it to bots which not many people can consistently do successfully. This is what creates inefficient markets which equals opportunities. Do your research and invest for the long term by Dollar Cost Averaging is great advice.

I like your down to earth approach. Thanks for the regular news updates.

Still a great time to buy. Trying to buy more LiteCoin before it goes up.

As a student of psychology I think the following are the biggest problems in the cryptocurrency market,

  1. Price Volatility- If you can't go on a trip for 2 weeks without wondering if your BTC is $20K, or $6K or $8K then you can't trust it as a store of value. There is no store of value with such wild swings.
  2. Trusting Exchanges- Recent hacks or scams such as Nicehash, Coincheck, Bitgrail etc degrade 'trust' that their funds can be stored online. What is needed is insurance for online exchanges, but that brings regulation, taxes, and oversight.
  3. Adoption- The first 2 problems limit adoption. I want to use crypto for my coffee, my gas, my car and my house, but I won't anytime soon until these problems get resolved.
  4. Scalability- This is the 4th problem, not #1 like alot of experts put forward. Scaling is not a priority until adoption picks up, and even then exchange fees and block time confirmation lag are both bigger problems.