Bear Market ThoughtssteemCreated with Sketch.

in cryptocurrency •  3 months ago

b mkt 1.jpg

Another painful morning to wake up to, red all across the board. In times like these there is not much other than you can do than control your emotions and mindset. For me personally I am continuing to look at accumulating more crypto assets that I believe have long-term utility, I don't doubt this bear market will continue and probably get worse but with a long-term view in mind I am not too stressed. My issue is finding enough liquidity within in my own assets to purchase more crypto, there comes a point when you have to ensure you have enough liquidity to provide cover for debts and expenses.

Another thought I have been having is that there must be a ceiling price for most projects. That sounds obvious right? But let me get more specific. Platform projects (ETH, EOS etc) are designed for dapps to be run on top of them, which a lot already do. However at what price do developers and companies start to think it is too expensive to develop on the platform as the amount of Ether for example needed to run their smart contracts is too much. At what point does the utility of Ether start to be eroded by price? Perhaps Ether wasn't the best example as I think it could also be argue as having some "store of value" properties, think as being the silver to Bitcoin's gold. Besides the likes of platform projects, there are many projects whereby users of the network will be required to pay or hold the underlying network's currency. At the moment 99% of crypto holders are speculators, hoping for actual users to create demand and subsequent price increases, the question is at what price does the demand decline? I don't have an answer to this, but it is something I have been thinking about when comparing projects. Based on this, Bitcoin doesn't really have a price ceiling if people consider Bitcoin as a store of value rather than an actual "currency".

Anyway to close this off, remember; no matter if the markets are up or down, the cryptosphere as a whole continues to develop, the technology becomes more advanced, more projects are started, more projects are enhanced and more people become interested. Eventually all those factors should lead to a turn around in current market conditions.

Keep your head up!

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

We shouldn't be worried about a downward trend. Just go with the trend and short if you have the ability. You don't have to be short forever, just until we get a change in trend (not trade advise just person opinion).


That is a good point about shorting, I personally haven't considered it due to fear of being on the wrong side of a call and my lack of trading expertise. It is certainly something I should look into.

Thanks for the comment!


A general rule for me is to go with the trend. If it's in a long-term down trend I'm short. If the long-term trend reverses, I am long. You can set up stop losses to prevent a bigger loss than you are comfortable taking.

Congratulations @rhyscn! You have completed the following achievement on Steemit and have been rewarded with new badge(s) :

Award for the number of upvotes

Click on the badge to view your Board of Honor.
If you no longer want to receive notifications, reply to this comment with the word STOP

Do you like SteemitBoard's project? Then Vote for its witness and get one more award!