Vlog 167: Crypto markets corrected 30-40%.

in #dtube3 years ago


Waking up to these markets was a bit of downer after the great night I had with Blockbrothers last night.

The Markets crashed around 30-40% and that's a little painful.

It's not unexpected though.

Something like this was bound to happen for some time now and that's why I have been recommending to take profit gradually in the uptrend.

I diversified my profits into cash (instead of other cryptos) for the last 10 days because I didn't know where else to hide.

For now, I'm sitting on my hands.

Watching Star Wars tonight will be a great way to distract my self.

What's nice for blockbrothers is that we extended all our witness servers (3) for the next 6 months last night with an SBD that was worth $13,50.

That was a good deal and was just another way of taking profit.

As with any correction in crypto. The bears have woken up.

Peter Shiff, for instance, is already screaming it will go to zero.

I talk about it more in my vlog.



I am a witness with our developer group @blockbrothers for the Steem blockchain. If you want to support us I would appreciate your vote here.

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A "crash" like this was well overdue. I just hope we can avoid a long bear market like the one that started at the end of 2013. Either way I'm sitting tight and riding out the storm

Great Vlog once again @exyle  

What a turnaround of events i saw your vlog yesterday where the cryptos were going so top over the prices as you said almost doubling the portfolio in just the December month and boom today the mind is totally rough like the crypto trend.

Major Correction and pull back prices at almost 30 to 40%

I Think it was expected from a long time as the crypto market as far as i know have not seen any major correction from almost last 5 months and the prices were going insane as soon as any dip comes in the investors were putting back the money and so on.

Millions of dollars have been gone in just a matter of hours from the time i saw your vlog and the trend of crypto for sure looks like The Big investors have taken out their investment money out as the Christmas season is here look to me like that earlier on also this happened when the holidays approach this major pullback occurs but this far most the Big correction i have seen till now.

 Peter Shiff, for instance, is already screaming it will go to zero. 

i don't know about him a lot but even the major publications are spreading negativity about the prices some big media housed on Facebook with millions of followers keep spreading the F.U.D with having these big people faces on their articles the F.U.D is definitely strong ....but as you said its normal in the cryptocurrency as as far i have been in this crypto world i too got matured over the time this is just a correction and the prices will go up soon no doubt but we need to have the HOLDING power right now. 

The price were heating up so much for sure from nearly $20K to today $13K  this shows how much pump up it was but sooner or later we have to see this day finally it arrived.

 Watching Star Wars tonight will be a great way to distract my self. 

Hahah seems like i too need to watch it right now with friends to keep my mind refreshed :) and congratulations to you and blockbrothers for a great deal cracked with using the right opportunity with sbd's

With all that being said ,

I hope you have an amazing weekend ahead,it was a pleasure seeing your Vlog

Have fun

Cheers.

I don't see what the problem is; I got in at 1.68 earlier this month so 2.40 is fine for me. As of this comment it's at 2.77. Keep on keepin' on, I'm staying in! Greetings!

Yes there is a lot of red but in reality I am still in green as I bought when it was cheaper than befire the mooning. And one should ask what exactly caused the moon in the first place. Maybe some big money investor entering and now it's Christmas and New Years where Banking will be difficult at last minute so they choose to exit. And maybe some 10dollar investors pulling their pants up and running because of the News. The Media hyped it up and now they will break it down. Don't be sheep. Be the herder. Look at the big picture.
[email protected] HODL!

I like your positive attitude! :)

Back to $2.91. Love it here :^)

Be careful not to indulge in the debate
But I want to follow you on how to get as many followers as you bro
In addition to a strong upvote of party followers
I work a lot but the results are weak and this makes me sad and makes me lose hope

Sincerely followers should be the least on your mind.
Bring daily VIBRANT posts should be your #1 objective.
Keep on steemit.
Followed!

@pouchon You forgot fun. Having f u n.

YEAH FUN, VERY IMPORTANT.
BE SILLY if you can.
THANKS.

I think it's important to note that even though the drop was sharp and had a lot of momentum, it seems to have stabilized where it's at so I wouldn't worry too much.

Not saying it won't drop more, but there are still plenty of people willing to buy.

Just put all my money to steemit trough out last week. I personally see these cryptos to be more than investment, as a future currency next to other currencies (NOT FIAT).

It was expected..now we moon? :)
PS: I just wrote a gift guide for X-mas if anyone interested please check it out!

Do you have to pay taxes if you turn some of your crypto into cash? Also I don't understand why do you have to pay for your servers, I though you were hosting them. Good to see you laid back as always in a down trend. Cheers man!

Oh no, I'm sorry for the confusion. I don't host servers. If I need one I rent one from another company. In this case @privex. I already pay tax over the crypto that I have so for me it doesn't matter that much.

I see, thanks for making things clear

Wonderful post by @exyle

  1. I'm new comer in crypto world and steemit pltform...I'm always try learn something with every posts. .
  2. Sir this is a valuable article for me... I see lots of my friends now trying to buy BitCoins & other Alt coins... But Sir most of them are trying to buy them at the peak... It can be grow more, but to me it's a risk... The forgot the basic rules of trading Sir...
  3. I'm always know and trust btc ans steem can change my future life...
  4. I'm always try collect some sathosi day by day...with faucets..with btc trading...
  5. I can graw day by day...I'm hold my steem for my future...
  6. I'm appreviate ur analyse...ideas..
    Followed U...now I'm become Ur fan sir...I'm always try followed ur blog every day...
  7. Already voted for Ur witness...
    Screenshot_20171222-142309.png
    Good luck....

Thank you for your witness support!

U are wel come sir...I'm waiting for Ur next update in this platform...bcz...Surely I can learn something about crypto world...

the problem with cash
(at least in the united states)
is that when you turn cypto into it.
it suddenly becomes
REAL MONEY!
and subject to tax.

I understand but I still prefer that to seeing it vanish into thin air :). For me, it doesn't matter much. I already pay taxes over my crypto holdings.

I pay taxes too.
but only when I convert it to USD

I see. I also pay taxes when it's in Crypto. So that's a huge difference.

ah..but you INVESTED.
I din't.
I only play with crypto with the steem I got from bloggin on steemit.
just play money..
not real...
iszit?

If you ask me crypto should only be taxed at the end where it becomes fiat. Because while youbare HODLING they fluctaute. It would be so unfair to pay taxes on high value days only to see res like now and then you lose double. The tax man will send men with guns if you don't pay.

It DID vanish – into the hands of psychopaths.

I get what your saying @exyle but it was about to happen soon as its been doing well for a while now, haha when it doubt with crypto watch starwars, SBD when down a little but still so great.

@exyle I love the pullback in price so that I could get some more LTC. Charlie Lee has had some exciting TWEETS lately................Merry Christmas to you and Bianca.

Merry Christmas!

Also your Mom @clio too

Oh yes, you are absolutely right, the correction that is now happening was quite expected, as the market does not stand still and only on the change in the exchange rate is the movement on the exchanges. You correctly noticed, now is the time of the bears, but we will wait for the next take-off, that would be beneficial to distribute the assets! Thank you @exyle and keep us informed.

I really like the way you said you take profit gradually.
I just check the price of sbd and just see it has fall to $9.7 but I believe it all move up back

As I understand it, this is a normal part of crypto volatility. The value drops for some weird reason - someone tweeted something, somebody who had a lot of stake sold it off to manipulate the value. This is all going to happen when the adoption rate is less than 1%. As it rises, individuals will have way less power to control these markets and some, like bitcoin with its 21m cap, will be completely unaffected by any attempts to manipulate.

We just have to HODL, because that is what we do.

the correction was due from a very long period but i am not selling this time in panic happy that this correction came otherwise it would be more serious that the price would fall from a very top

Guess where I went right after noticing the correction; your blog here! Lol.

Dude, can you squeeze in some time from your routine (weekly) and start some online training or stuff? Cuz everything you say makes so much sense. Although these blogs do it just perfectly to teach people like me. Good job with these.

My first two months with investment in Crypto have been quite exciting. And my belief in our dear Steem has grown with time, even when I was away for a month or so. Good to be back and good to be a part of it.

Last month was the same, and after that came immediately a huge rise.
I have photo too ....
I did this photo 30.11.2017

1.jpg

And if you look at the current table 22.12.2017 , it is the same.

don't worry, but I guess it was not a nice wakeup.. but as long as it is sp then it doesn'matter.. it will go up again... even mij daughter knows now what hodl means...
https://steemit.com/steemfest/@rival/thank-you-from-my-daughter-isa-for-all-upvotes-she-received

It might be too early but I think then markets are starting to turn back :0)

Very interesting days! Lots of opportunity and lots of emotions. Good test for everybody that just got in a few weeks ago :-)

This was expected as usual because correction is also a part of game, like to take rest for us.

another roller coaster day

I expected this crash to happen, bitcoin needs to be replaced and I think best choice is steem :P

Bad day for Crypto traders..where all the coins are now in the red. We must never forget that we are still living in the wild Crypto world, so always better to diversify and never panic sell.

Its actually kind of a relief, thats a sign of a normal market!

well I don't have much, I'm enjoying a smooth ride ^_^

i was waiting for the market to crash so i could buy :D

I bought EMC2 2 days ago and it was arround 1.72 $ now 0.98 $ :( i have a bad choice. Could you suggest me some coin maybe mate? Thanks for the your nice sharing!

Reddcoin looks good but buy at your own risk. In any case don't throw away the EMC2 just yet. Wait 2 months and see from there. You need to learn to HODL.

as long as bitcoin stabilizes above the mark of 10k, it is still a win for me. every bubble bursts sooner or later...

No no no. Again with this bubble talk. Bitcoin is no bubble. It is backed by real world computing power, hardware costs, electrical costs, maintainance costs, transaction fees and tgr Bitcoin user community. It is not a bubble. Yes BTC was dirt cheap in 2010 and now itwas usd20000 and came back down to 13 or so but this probably has to do with people selling large amounts to profit. Plus I watched the media hype up bitcoin for 1 year now and now how they talk about bubbles. Maybe the media and their gov puppeteers are trying to sabotage cryptos.

if i refer to a bubble, it is not bitcoin per se. as you said, bitcoin is backed up by real computer power, real hardware and so on... but that is not the point. as the whole fiat financial system is a pyramide sheme (=cash scam, ponzy), it is inherently unstable and destined to collapse sooner or later (the question is not if it collapses, but when). i was reffering to the price development in the last couple of weeks, where bitcoin rose from 7k-ish dollars in price to about 2.5x its value in a pretty short time. if you understand anything about economic cycles and product lifespans, you can clearly see the bubble in the price chart (bitcoin is a prime example for market development, market phases and lifespans). the bubble i was reffering to is the bitcoin price in the last couple of weeks, not bitcoin in general. maybe there was a misunderstansing regarding that point and i hope i could make it a little clearer :)

Bitcoin does not work as currency so it is a bubble.

here i also like to give my "two Cents", no offnese :)
Bitcoin does not only work as a currency, it is more of a currency that fiat. as fiat lost the Gold standart in the 70´s, it is not worth anything at all. the value of fiat currencies Comes from some sort of trust and idealism in fiat Money, not from any real backed value. Bitcoin (or all crypocurrencies) are different, because (as mentioned above) they are backed by computer power, a luxury fiat Money is lacking. they both have 1 thing in common, though: they follow a regular market and thus the rule of supply and demand.

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could you please state in which way my comment is "plagarizing others comments"? i cannot see why this gets flagged...

I don't believe in FIAT either, but I see bitcoin as being already obsolete because its incapability to handel loads and in time they have had they should have been better prepared for last boom. Crypto is future but not in the form of bitcoin.

totally agree. Bitcoin was never intended for everyday-purposes like microtransactions.

Btc market correction, as long as it never dip below $11,000 then it should be fine, or else bear market enters, which would affect all cryptos as well, as btc still holds the status as first market mover... :(

Being forex trader for the past 10 yrs have thought me well i believe, i personally enter steem when it was resting at $0.88, perhaps luckily spotted, but i can view steem have a very good projection for upwards trajectory, compare to other Cryptos. Use case of reaching billion user, fastest tx speed, SMT and many more good point backing steem upwards trajectory.. :) till that keep on hoarding steem..

i am holding this time not selling its huge prices decline thanks for the updates

@exyle,
I don't think this is the correct market for STEEM! Others yeah, made market correction, but for STEEM I don't think so! Yeah it's little painful! Hope to watch a movie today! Atleast it can reduce the pain :D

Cheers~

I share in your optimism, bitcoin can always rebound when conditions for a rebound are met, for now, the glass is still half-full

Well thats the only solution. To cash out some funds and keep them safe till the market it stable is always the best way. Now Christmas and new year are coming and everything can be possible.

I agree.

Tuesday afternoon UTC, the coin went up 25% in 1.5 hours. The hour after it dropped 20%. If any fiat coin were to crash 20% in a single hour, there'd be global uproar and markets would crash.

I believe cashing out is the right thing to do. "But what if the coin goes up?" Well, we're still here, just earn more!

I think the BTC going down is in general cooling people off on other cryptocurrency in general. Yes, at a later stage it might lead them to search BTC alternatives, but for now, BTC is the face of cryptocurrency, and all other coins will be affected by its success, which was a bit too fast over the past month.

I try to not worry about it overmuch myself. When you can cash out, wait for a spike, otherwise, while the money is still in the system, there's not much you can do about it, so also no real reason to worry, because you don't actually have the money, it doesn't yet exist, so to speak.

And yes, fiat is still the safest place.

Interesting thoughts. I covered the bounce live. I give my thoughts on why, what to do next, and where we are all going. https://steemit.com/dtube/@jacobts/sed7mw0a

well I'm not worried, falling causes a bounce back up, and with us giving more momentum to the platform, we will go higher and higher

Should we be worried about cryptocurrency prices? Everything is red on coinmarketcap but we definitely shouldn't be worried about that.
In July this year something similar happened. Ethereum went from $400 to $150 and Bitcoin dropped 35% being at that time around $1800. And people panicked and sold, big mistake watching today prices.

This kind of correction was expected. Let it be over and the prices will rock again. We might see this one because of the Christmas but I am really happy, it is shopping time.
@exyle

Mark, now everybody is awake, and see; everything is UP again.
Good moment to add some more.
There are indeed so much possibilities, and the whitness running was also a good investment which sure will be good for the @blockbrothers.

A timely correction like this keeps the market healthy. It's actually quite welcome.

God help you to save your accets
But i hope it will give a down trend for some days next year it will go up
Expectation of 25000$
I pray for you for the good

oh corrections, however is so high prices that is a dream believe

Very good update. Merry Christmas. Outstanding writing skill. Thanks for the post

That's a nice post. I always pay attention to your posts, because your post contains many important information that is very valuable to me. Thank you very much for sharing this valuable post with us. I hope that you will be with us for many more valuable posts like this. I hope you will be successful, work like that. Be good
thnx for use dtube tag

A discussion of many greatities. Hope you can achieve success in all respects. thanks dear friend @exyle

The issue with money (in any event in the assembled states)
is that when you transform crypto into it.
it abruptly moves toward becoming genuine money
also, subject to charge.
Upvoted and resteemed

At the beginning of 2018 ,
May I know what do you think about the trend of sbd & steem ?

sir, in am also new in this world , so i tried my best to find a article by which i can solve my problem , in this time i have got you & your article by reading this i have about to solve my problem , really thanks a lot sir for your effort

you are absolutely right .
in such cases the right thing to do is star wars watch :)

really its very painful to see the market right now the portfolio crashed too quickly

One can't tell the way crypto currency does these going and coming down these days, yesternight I could have sold my SBD for 12 and now it is 9.50, what pain it is for mw

altcoin market is relatively stable and fine but bitcoin has crashed 40% from its all time high.

40% is really huge but thats all about trading.

Lets hope for some relief rally.

thank u

Like bull market is reality so as bear market a reality

The market swings from bull to bear and bear to bull again.

Its all the sum of trading a cryptomarket.

thanks

Only a diversified portfolio is an answer to an extremely volatile market.

steem on and stay blissful.

I wouldn't worry about it too much. These corrections are really common in crypto. I'm actually very sure by the market will start going higher in 2018. Some of prices right now are decent buy in points.

I don't understand anything of what you are saying, but l will keep following your posts.

Very good [email protected] Merry Christmas. Outstanding writing skill. Thanks for the post

wow this is insane my mind is blown away currently the prices had a red hot bath damm so crazy we can't predict anything

its very painful to see the market right now the portfolio crashed too quickly

The market goes up, the market goes down {repeat}...

The important thing is that you will be watching Star Wars tonight.

:-)

May the force be with you.

i don't wanna look at market for next few days it so scary at the moment

Hello, great work, i liked your post and reward it with upvote.

I'm running budget proposal campaign on Steemit for funding my future STEEM Windows and Android app - STEEMER. If you would like to contribute, please visit my post for details: https://steemit.com/utopian-io/@cryptomonitor/steemer-your-future-steem-blockchain-transactor-windows-android-app-funding-update-23-12-2017

There are a few that profit with these crashes... Those who short also can loose, so the markets run as it flows! It's a gamble.

Good morning bro
I do not see it as my market steem
This is a bit sad, but we have great hope that the situation will improve in the coming days

Overall, I'd say look at this as a chance to hold strong and buy into it more if possible.

I made a few bucks as commission, worked as agent and finalized two deals between buyers and sellers. I'll be having a good weekend too :)

all the profits gone and now i am in loss currently what the hell just happened overnight lol

Well, I'm guessing that crypto Christmas is over now.
Hope everyone made some nice profits!

I was so scared :( I sold all my cryptos :( I was in Panic.
Bought 300$ bitcoin at a Price of 6500$
I am allways selling at corrections and then I fail to buy :/

I like it bro! Visit me too:)

Nice video. I always enjoy your videos. I covered the Bitcoin Bounce Live.

When market price is fall down, it is great news for them who want to buy or could buy. If I could get the opportunity. But it is not possible for me even in dream because cryptocurrency is blocked here . Very good post.

Painful, but it's part of the game.

Also, try out https://bittrex.com/Market/Index?MarketName=USDT-BTC to Tether it to a virtual US Dollar to avoid volatility and losses like this today.

I was devastated about the drop but am positive it would claim next week,we'll see,..keep steeming,cheers

1 night back I brought it around 3.54. and now it's 3.14 I am not loosing my hope.cause I strongly belive it will raise in future like btc, eth and all other cyrpto. so I am gonna hold it for a long time.

It is about the long term success of the platform not the short term price action! As long as we are able to buy and hold for a while, this will be a short dip in the history of cryptocurrency and steem! Buy while the price is low! :)

An impressive share! I have just forwarded this onto a coworker who had been conducting a little homework on this. And he in fact bought me dinner due to the fact that I found it for him... lol. So allow me to reword this.... Thank YOU for the meal!! But yeah, thanx for spending time to discuss this topic here on your website.

Bought Ripple Dash and Doge :) 1 day after the crash

excellent I like your positive attitude! :)

Coin Marketplace

STEEM 0.16
TRX 0.02
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