I'm waiting to see if the market can withstand the dreaded Sunday dip before increasing my position.
I think it's hilarious how the market has one green day, even if it's by a small percentage, and then in come all the bullish posts.
Then the very next day everything is in the red hardcore, and they all conveniently forget that they were just so bullish the day before.
This is why all of these chartist's are bullshit, and why they can't really be taken seriously, albeit but a few.
Some are actually reporting on the big picture, which shows the overall trend as being bearish still.
Hell, I'm not even a chartist, and even I could see the overall market cap has been heading in a downward pattern for the last 3 months.
Oh, and things aren't going to just change all of a sudden for absolutely no reason, I mean why would they?
Even China has run out of fake partnerships to announce, because people weren't buying the bullshit anymore!
You could only cry wolf so many times, boasting about how you are in partnership talks with Alibaba, and then not coming through with it, before people stop believing a word that comes out of your filthy mouth.
The great Chuck Lee has even lost all of his credit, after abandoning Litecoin at all-time highs, and then praising some new kid on the block shitcoin... I mean where's the loyalty for fuck sake?
Anywho, what are your thoughts on the market going forward, are we headed back to the Moon, or do we still need time to figure out why most of these coins and tokens are even valuable in the first place?
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“The great Chuck Lee has even lost all of his credit, after abandoning Litecoin at all-time highs”
I always thought that was a really shitty move. And the excuse about conflict of interest was also BS.
What can be more aligned in term of interests between him and LTC than him being heavily invested in BTC?
Not to mention that him working at Coinbase was the only reason why Litecoin got listed, so what could be a bigger conflict of interest than that?
That’s when Charlie owned the damned thing (LTC), so that was just fine.
It seems a lot of big fish abandoned the space at about the same time. Julian Hosp of TenX said he sold all his holdings (except Tenx) at about the same time and he had a few millions in BTC. He strikes me as a good salesman and reasonably well meaning, but mostly full of bull shit. I got some TenX but since Visa decided they will never allow crypto Visas, it looks like TenX and other credit card players are screwed.
Not only will they not allow them, even if they did Visa or Mastercard would still have control, and could shut the payments down at anytime, so it essentially would never be decentralized anyway.
It would be a good use case, as paying in a crypto that is acceptable at all Visa locations could help a lot when traveling internationally.
But I think trying to work with big business with huge banking relationships is a dead end. If something is to happen in this direction it will have to be built from the ground up.
I think we should pivot from this idea of mass adoption, and accept the fact that this is all going to be niche for a long long time. I mean think about it, why would a Dick or Jane want a currency that could not be replaced if stolen, or reversed if they don't like a product they bought?
Agree on that.
However, cross border remittances is a big business and if that alone is displaced by the use of cryptos it will still be a huge step forward. 3rd world countries have more need that we do in US.
Labor participation rate in US has been dropping since 2000
The new and newer generations are moving away from traditional jobs. The option of getting paid in a currency that may not be tracked by the IRS has appeal.
Possibly there will be applications that can only be accessed through crypto payments and not with dollars, etc.
All in due time.
i stopped looking at the market when everything went down the shitter. there is no reason to get paranoid over a normal dip
The dips we had this past month or so were more like major corrections, but I see your point.
I am currently having a feeling that market won't dip this week. The crypto currencies are increasing in value right now.
More than this weekend dip i am currently going through FOMO. There is this Raven Coin that i want to pick up and i saving up for it. The problem is it suddenly picked up a bull run. There are many people mining it. I am also mining it but with one card. The difficulty is increasing and making it difficult to mine.
Just be careful bud, and ask yourself... why is this Raven Coin valuable?
"I mean where's the loyalty for fuck sake?"
Well, the loyalty is where the biggest amount of money is lol.
Ha ha, ain't that the truth, and don't be fooled thinking that any of these so called creators give a shit about what they created. Litecoin was essentially a total ripoff of Bitcoin, and Chuck Lee made hundreds of millions of dollars off it, and then dumped it!
Some chartist make me furious lol. If not Sunday when do you plan on repositioning?
Either later Sunday, or maybe even Monday morning if there's no end in sight come Sunday evening.
"Shitcoin" Lol.. :D :D
Absolutely it's funny to see how the people are changing their statements now as the markets are in the green. Anyways let us not care about the bullshit of people and focus on what we have to. The value of steem is up to $2.06 as of now. A little improvement is good. Isn't it ?
Waiting for your remarks on this subject
Little improvements are always good, but sadly, I believe this market has a lot more to go down, before heading back up... we need a washout.
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STOPDefinitely, I would also recommend to wait till Tuesday or + a week or 3 weeks. The market have shown previously that on Sundays there's always a decline, so it would be a good idea to increase your position on Sundays. Due to current events, I would recommend to just wait to see if the market is actually recovering or not. I would recommend on increasing your position when the market passes the 380b/ 400b market cap threshold. I'm not a financial advisor (yet), this is just speculative advise from a crypto holder to another crypto holder. cheers
Yeah, I'm not liking the sentiment one bit, but we shall see.
For all intents and purposes, I think BTC is just going sideways and I am in no way convinced that the bear market is over. This up move looks more like a bull trap than anything of consequence. There is no volume and no conviction.
Yeah, and action is extremely low.
Then the very next day everything is in the red hardcore, and they all conveniently forget that they were just so bullish the day before.😂😂😂
The market is playing tricks with us for sure..
It sure is, and it really makes a man wonder.
When you enter a market you always should know that it will keep you wondering.