Alright, the time for correcting is over... this is a fucking market crash people!
Although, I tend to stay positive during such dark times, I do believe it is time to call a spade a spade, and call this cryptocurrency market condition a full blown crash!
Simply tap or click here to enlarge the image above.
Losing 8 to 10 percent per coin and token a day for a period of days was one thing, but today we are losing over 20 to 30 percent per coin and token, and the overall market cap is valued at around 280 billion at the time of this writing, which means we have lost over 550 billion dollars in just under a month.
A fucking month!
Anywho, there is thankfully a silver lining to all this, which are as follows:
- When the dust settles, we will be able to buy what ever we had our greedy hearts set on, at the lowest possible price.
- All of the lending platform scams, and cloud mining services will go out of business, which is a good thing for everyone.
- You will finally stop seeing Tai Lopez and Craig Grant every-time you try to watch a fucking YouTube video!
- The old world media can stop pretending they know about cryptocurrency, and start reporting on other things they don't know about, like they used to.
I know this isn't what you want to hear, but it's the only positivity I have left to be frank.
Oh, and I myself won't be going anywhere, because I truly believe in Steemit, and the currency of Steem, so I will be writing as often as I can, as I always have, no matter how much I am getting, if anything at all.
I started my adventure here on Steemit with the mindset that I will post, and only post about the things I am passionate about, and if people want to pay me for it... even fucking better!
Although, I expect many out there to feel a lot differently than I do, and expect them to start leaving the platform, due to a lack of monetary incentive.
Sadly, I already see this happening over on YouTube.
Now that the party is over, a lot of these peeps are no longer posting everyday, and could care less really... or so it would seem.
Plus, once I saw Richard Heart, a compete shill for Bitcoin turn his back on it... I knew shit was about to get ugly.
Anyway, I won't keep you much longer, because I'm sure you have some more hairs to pull out, but please try to look at the positives of all this... even if they are but a few.
Lessons from history
Too late... 😦
We should try to look at the long term. It's hard to do this in crypto but it's the healthiest of ways. There is a lot of stress coming from checking coinmarketcap every second.
You know what's awesome though my friend... I'll always have my Steem, and I have absolutely no desire to sell it. Now that says something, and it just shows to go ya what true hope and faith in a coin or token can do for a person. 🐳
Isnt holding of steem for long period turn out to b not profitable or loss?
Its mint to trade...
Why not focus on increasing SP it will remain same for years...
Yes, almost all of my Steem is converted into Steem Power.
It has been a crash since the first time we went below 300b marketcap.
from what i remember we had the same pattern last year and the year before that.
i am not worried and neither should anybody else be. as long as they did their research before investing and picked the right coins everybody should be safe.
That's what folks keep saying, because although I remember last year around this time, I wasn't in cryptocurrency at the time, but I've been hearing that this is usually the case during this time of year.
I will never sell at a loss. Even if this whole house called crypto goes down in flames I will Hodl. The reason for that is simple I only invested what I was willing to lose and not one cent more. And yes it's over the equivalent to $1000. Some of you have invested more some of you have invested less, some of you have invested nothing and only earned Steem. I am waiting on the end of this massive Armageddon style crash to see what's reasonably priced to buy.
You did it exactly the way it should have been done mate, and I hear you on those sales... I got me some bread set aside for just the same thing.
The 1 month chart only says we lost 60% ... It's still a correction to me :D
Ha ha, 60% is just a correction... welcome to crypto I guess! 😀
It is semantics at this point. Abandonment, disillusionment, shills jumping ship, blood on the street
These are signs that the bottom is near. Get your powder ready.
The mainstream media experts love to say huh told you crypto was a fad. It's not. As you said it means we can acquire more crypto cheaper and that those darn ponzi schemes will vanish :D
Yep, and good riddance to them all!
Frustrating to see the crypto market crash so fast. Hopefully the market will get a upgoing line soon.
I certainly hope so, but I don't know about Bitcoin... it doesn't seem to healthy.
I know it is hard but the moral of this story we need to split the investments onto the different market.
Right now, I personally believed it was better for me to just sideline myself, until I see some positivity come back into the market.
At the present rate of BTC losing 1000US$ per day, this can just go on for 6 further days. Hoorah!
The end is near.... 😉
I think it´s time to give this crash a name. I´d call it "The Reset".
Ha ha, the "Reset"... we got our name!
Market cap just swung back over 300 billion. Either way you look at it, it was a fun ride. Hopefully we can look back on this in ten years and laugh.
Ha ha, I certainly hope so, but for now, I'm just excited about picking up some pretty cheap bags on the way down.