CRYPTO ALERT : what is happening right now is crazy, here is my point of view
Good day to you Steemians, or Steemers !! (whatever the fuck it's called haha)
What is happening right now inside the cryptocurrency market is crazy : I would not say this is against all odds, but this is very close to being something like that. I took a look at the usual data site coinmarketcap.com which displays the evolution of every single cryptocoin. At first, I always scroll down to look at the total market capitalization, which is a number representing all the amount of money which is now injected inside this cryptoworld. And what I see is it is standing at $544,744,362,813 (let's say $544 billion). Now if you noticed the same number a few days ago, even yesterday, it was at around $605 billion ! Last week it was at $540 billion before some rise up suggested everything was back on track, but this was a false impression ! Moreover, all the coins are literally falling down, there are a few exceptions, but what sums it all up is the fact bitcoin is on a bit more than a 15% drop and ethereum is on a bit more than 9% drop ! However, when you take a closer look on the graphs, you see something obvious : the patterns are really similar, as they all fell at the same time, just before Christmas, around the 23rd, and then there is the same kind of rising up again, but not so fast either, some kind of elliptical shape after that fall if you analyze it mathematically ; now you have to consider this as a relative fall down, being a little drop compared to that big one from the 23rd.
So what is happening ? By purely objective analysis, we can clearly see money is being taken in and out of the market. $70 billion does represent a very astronomic quantity. Such a fluctuation is alarming. Now how can we explain that ? I have some idea. There are multiple obvious factors. The first might be the fact South Korea has made it heard exchange closures are possible. As a direct consequence, second thing happening is some people are freaking out, but also because of New Year, just like they freaked out before Christmas. You remember the 2000 freaking out year when people were literally buying every single software they found in order to protect their PCs from the "2000-transition", some fake danger advertised by the big companies from the USA ? I'm beginning to think it is something very close to that. People are always afraid of things in general, so give cryptocurrency to the average Joe, and he will be likely to believe he has to sell its coins before new year happens, without any reason. Just by fear. The world leaves by fear. Never overreact. Trust cryptocurrency. And last but not least, my 3rd main factor is something not to be taken lightly either : the fact the big investors, or whales of this environment, literally keep withdrawing their money and reinjecting it, for whichever reason it might be, from adjusting an investment to literally exchanging between each other or simply playing with people's nerves (I hope this one is less frequent, because it would lead to the fact this whole place is a big scam with the same rich people as puppeteers, so there would not be any kind of interest in order to keep investing time and energy on here, because it is because of that same corrupted scheme that we all decided to give more of our time and energy to this new upcoming era of cryptocurrencies). But don't worry, the very last hypothesis is not so frequent, and even if it is, rich people can't rule this world like the oil people do rule the "fiat currency' world. This new crypto world is still meant to get us out of this traditional scheme, and this is mainly why we're all in here dedicating our energy to understand this innovative technology better. Trust it.
This is the future of money. Money is becoming more and more obsolete. I'm not encouraging you to buy a lot right now. If you want to know my strategy, I'm calmly waiting and aiming for an ethereum buy just before new year. I don't know why, somehow, every year, new year is the time when people start making their resolutions and feel more confident into January. So it will rise up again. You have to think like the average people in order to understand that type of market, truly. There's no other secret. Never follow the sheep. Be the difference. Always act wisely, suppress any type of feelings. It may seem easy but this is the key.
What I'm actually planning to do is buying ethereum and holding it without doing anything till the end of 2018. During the year, new exchange sites will open, and it will be even easier to trade the biggest coins (bitcoin or ethereum) with the promising altcoins you see bursting. I will make a post about these, stay tuned. So far, I'm keeping an eye and studying closely dash, electroneum, lisk, ripple, tron, iota and eos. I will explain why, and give you my results, analyzing the coins one after the other. But as for now, no panic. Stay confident. You have to stick to the fact the market is what it is, and particularly the fact cryptocurrencies are here to stay, it is just meant to be, money is becoming obsolete, it is maybe already.
If you keep telling yourself this sentence (that is proven by the fact technology development has always had the last word, has always made things change), you will never ever panic. You have to know this has not been created from nothing, the bases are solid, and if it has been created, it is because there was a need, so even if it fluctuates, keep telling yourself the inner technology of it is here to stay.
More news soon ! I need to study those altcoins seriously, from different angles, programmer's angle, financial angle, marketing angle, users angle, and even study bitcoin and ethereum themselves ! Studying and consistency are the key. Never neglect any aspect.
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STOPWhat I do that's effective for me is I have stopped looking at the charts, at least for now while it's fluctuating like crazy. I trust its future so I won't be swayed by what's happening now.
Love to upvote your article but have to recharge voting power for a few more days sigh #newbieproblems
I know, I also trust the future, but I'm just so passionate about it that I can't stop looking at it 2 or 3 times a day at least, more to have a glance on how altcoins do, because I'm soon putting money on some of them so it's to get more and more experience you know , not because I'm feeling anything special; I don't panic because of that. It's for the experience and recognizing more and more patterns in graphs. And don't worry, I'm also a newbie, I see you went on Steemit in December, same for me, only 10 days away from now I signed up. I don't even know what means recharging voting power, most of the steem I earned was thanks to a lucky bet on a football results contest, but if I have an interesting advice for you, just keep on following as many people as you can, and there will come more followers, giving you more steem power and so on, steem money, etc... Then also comment as much as you can, post as much as you can, things you write yourself is better, you can also resteem other people's posts. I don't even know what recharging voting power means and how we do that, could you explain it to me please ? Thanks a lot !
It's good that you have the passion to study it even before you dive into it. And you seem to have the skill to recognize patterns which is an advantage for you there.
Basically, our voting power has a limit so you would need to let it refill and you just need to wait for it to recover. It's measured in % and you can check yours at steemd.com/@yourusername. I checked yours and you have 41% voting power which would just produce 0.00 when you upvote plus you drain your voting power more. As newbies, our steem power is low so at below 80% our votes are not worth anything anymore. You will have to wait hours or even days. You can check this site to see how your waiting time and your upvote worth:
http://steemforthe.win/
https://steemnow.com/upvotecalc.html
You can also check this series of lessons for use newbies:
https://steemit.com/steemit/@davemccoy/steemit-things-i-ve-learned-in-my-first-7-days-1
Hope this helps :)
Ok thanks, I should limit my upvotes, didn't know it took money from my account. I mean I enjoy upvoting something I liked, or to support someone, but when it becomes useless and drains you... I guess we should wait more before any upvote, until we reach a new status
Me too, have to be very picky for now. Happy New Year :)
same for you, even if I don't really focus on that calendar events; I need such a rest, crypto world and that steemit account I have to keep growing up kept me awake without sleeping well these days, I'm definitely needing to calm it down a bit
Omg that's so me too! I'm lucky to have been off from work this week but these were still sleepless nights. I don't know how to keep up with the workweek next week. Take care!
take care too, we're all so enthusiastic about this new world of crypto, this is just the beginning, at a point, where everything is stabilized,especially the knowledge solid basis and for me the access to the sites to keep holding and buying the coins, trading, then it will be much less time and energy-consuming I believe, we will do things automatically like a plan and stop getting tired from learning and learning a lot