Weeeeeeee! Journey to the centre of the earth!
Everything is down! Is this the big correction, the bubble everyone has been talking about, or just another bear market before coins start to moon again? Triggered by China's regulators, Warren Buffet's comments or disappointing news from coins like Tron?
I don't believe in the crazy bubble being here (yet). I honestly don't believe in the big crypto bubble anyways, but it really seems just like another bear market after the rally we've been experiencing for the last 2 months.
I'm using this opportunity to buy some of the coins I believe in at a major discount.
What do you think is currently going on and what's your strategy in this bear market?
Image: Trance929 https://www.reddit.com/r/Bitcoin/comments/7qr4ym/weeeeeeee/
I think probably a big market correction. Just a couple months ago crypto dropped 200 billion in a day or two. Yes, we are still early. This is also a great chance to see how confident you are in your positions and if you are really ready to lose a significant chunck of your portfolio. I, found out in this one that I'm not. I have too much capital in crypto relative to the risk I am willing to take. I am playing with the houses money, but this drop helps me rethink my position, and scale back a little
I agree, it's a great time to reflect on your investments / coins
I think it's a good time to take advantage of the down market , but not all in one.
That's a good way to respond: not all at once.
The final blowoff bubble is not here yet; no. If a bear market's coming, it'll be one of those "intermediate bubbles" that crypto's seen before.
It was only four years ago that Bitcoin topped at ~$1,300 only to crumble to ~$200 - and that was not the first intermediate blowoff. The final bubble won't collapse until Bitcoin and crypto are mainstreamed.
Internet of Money, baby! 2018 is not the new 1999, it's the new 1996.
That I agree with. We still have much of this year to go. What i'm interested in is what crypto will do in a bad economy. Will people flood to it, or will the mainstay of gold and silver hold?
My guess is that gold and silver will benefit: maybe gov. bonds is the Fed manages to pull off the QE trick again.
With mainstreaming comes an image of a cutting-edge tech. Tech bubbles grow in good times and collapse in bad.
Who knows: if Bitcoin, etc. grew in the goldbug-like markets, it would benefit from bad times. But, it would not have gotten as high as it has.
yah, you are probably right. I just worry more about the world economy, then I do crypto right now. Europe is suppose to stop QE come fall of this year, the fed will continue to creep up interest rates and equities are overstretched and overvalued as is. I can't see the economy staying strong until the end of this year and I am just concern the negative affect it will have on cryto.
We'll see. Internet 1.0 came back, at least for the highest-quality companies. In a similar scenario, the highest-quality cryptos will come back too.
[If you look at the stock charts of Amazon and Apple, the Internet-1.0 frenzy looks like a molehill. No joke.)
I think if the economy goes down and Bitcoin (and perhaps other cryptos as well) would start to go up and the news would talk about how people move their money/investments into crypto, more people would follow this approach.