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RE: Vlog 207: My plan for the downtrend. Patience is key.
The Dutch Media is already reporting the 'crash', like they always do when there is a correction. I'm glad I can just tune it out and keep a straight head. Panic rarely leads to good decisions.
When I saw the crypto market cap move from $800B to $400B in a matter of days following the questions surrounding Tether, "crash" was the word I characterized it with.
While I saw no cause for panic myself, this "crash" tells us something about the overall composition of the crypto economy.
For one, it seems that convergence on something like a crypto-Federal Reserve is being tested and that we may be talking about fractional reserves soon. IMHO, we need to come down against tether coins. I understand the need for a stable coin, but I'd ultimately like to see something like an index coin solve the "...nowhere to hide fast" problem. I feel like reducing the impetus to dump crypto this way is important.
And two, what does it say about crypto-culture? Ideally, we want to build a broad perception of value in cryptocurrency and blockchain technology as a whole. This is the future we want, yes?
Are we treating it with that regard, or is it just another investment vehicle?
An index would be nice. I think people would feel more secure investing in an index.
invest in it as opposed to day trade
Please don't talk about it.
I can't even watch the local news, without people talking about the 'crashing bubble'.
NOS/RTL talking about BTC becomes increasingly cringeworthy
Yeah, I hear people saying that crypto is dead. It's crazy considering how many partnerships there are and how entrenched the tech is becoming. No one seems to be interested in reporting on that.
The media are always looking for something to say. They don't really care what as long as they get views – and of course money.
Yep, everything is made as dramatic as possible in the news.
And never forget that media also uses their influence to control the market and to take their own profits out of it...
Yup. The funny thing is that what the media say about Bitcoin's price determines the price...
I couldn't agree more. All media outlets are setting the panic in. Keep cool and with a diversified portfolio this will even out in the long run.