Perspective & patience for those who think the market is in decline
Perspective & patience are valuable tools in the crypto game. I made this price snapshot last month to shed a little perspective on the bigger picture for those in doubt about crypto as an investment.
The market only appears to be in decline if you look at the last three months. Even our current low is a huge increase from where we were at the beginning of last year and had you invested in any one of these top 20 (with the exception of Tether) you would still be looking at a huge profit if you were to sell now.
So my crypto enthusiast friends, take a deep breath, appreciate the perfection of this moment and remind yourself of the importance of perspective & patience.
Your investments may be down in this moment but it is only a question of time before the market explodes into life again.
The market IS in decline now. I managed to lose almost all my capital because of my mistakes in these hard times. If it goes any longer, it will all go down the drain. But hopefully, it might start recovering after the news from G20
Sorry to hear about your losses. I try not to think about how much the total value of my holdings has gone down because I feel sure that by the end of this year I will be laughing.
Fingers crossed we all will!
Thanks for the reminder.
I think it's very important to step back and take a look at the big picture and do this regularly. Those panicking now are those with short term interests or short term memories.
I started a 2018 entire year Top Ten experiment to hopefully highlight this exact thing: that if you believe in the tech and have a bit of patience you'll be fine.
Absolutely. Patience is the key. All things will come good in the end :)
Life is all about perspective. This is the hope I have in cryptocurrency.
Those who panic are obviously newbies to this crypto space. They invested because they're head people are making money with cryptocurrency. Some of them eve. Buy at a high price.
The market will always recover. People needs to understand that cryptocurrency is still in its infant stage and its still suffering from little regulations (which will not work in this decentralized world).
People needs to understand that only spare cash should be used in cryptocurrency
haha! If only I could use just spare cash. I've not had a bank for almost 5 years now so all my money is in crypto ;)
It isn't easy at times like this, but where there is a will there is a way.
Lol yea I understand. Meaning you'll have to constantly monitor the market. I currently have 80% of my money in crypto. I prefer to have online and offline sources of income,ju most incase of a market crash, I won't sell at low price.
But using spare cash for crypto is tempting because if you see gains made previously, using spare would look like child's play. Just imagine the gain Ethereum made between last year January and the last ATH
An upswing should be on the way soon well hopefully. My cryptofolio is down about 25% overall. For those who got in early last year they are sitting okay. Now is the time to get in this year!
Just 25%? You're doing better than me. Though as we both know, it won't be this way forever...
Yep. It's important to zoom out and look at the long term trend of these markets. I'm so excited to see where we'll be in a year or two.
Me too my friend. Very excited about the future :)
Nothing to worry about here! Just wait and the time will come. Even though this isn't the most fun thing to see but the green sea will be real nice soon.
We are so close now...
I use https://coin360.io to observe the ever changing sea colour ;)
so true :) patience gets paid off. let the panic hands move out. I am just waiting for the new bull run :)
Not long now... it's on the way soon ;)
For future viewers: price of bitcoin at the moment of posting is 7658.00USD
Stop reminding me! ;)
For all the long term thinkers
haha. Yes indeed...
I agree. The starting point to look at was the mid of 2017, when Bitcoin was somewhere at 2000 US-$ (and Steem was 1.2$). I think the worst case scenario bottom will be around those values. After that, the market will gain again.
Based on previous market movements we would be very unlucky to hit those kind of lows again. Feels like the market it desperate to explode now. Every small BTC pump is a big pump to the rest of the market.
Fingers crossed the bottom has been reached!
Check out this analysis. It's a bit heavy on financial math, but it shows what Bitcoin is about to face pretty well, I think. Important is Figure 4: Market-to-Metcalfe value ratio (MMV) over time. If that is correct, we are going down to the base of 2017...
Weird that @abusereports is still stalking you?
Will check that out now...
Looks like he created a script which flags all my content automatically now. In other words: he de facto killed my account. So much to freedom of speech here on the platform...
Did you know that apparently Dan left the Steem project because of him?