Ignore Price Action: Green Or Red Really Mean Nothing!!!
The last few months saw a bear run in the pricing of crytocurrency. Today, we see a breakout to the upside which might be a sign of better days to come. The market is a funny animal. Therefore, we will have to watch to see where this takes us.
While many of us are ready for the FUD to be over and bull market to take over, the truth is that, unless you are a trader, it does not matter. There is a good possibility that this move today is just a false start which will reverse. Of course, the flip side is also possible. We could be at the start of a run in the market.
That said, do you know the entire cryptocurrency industry has been in a bull run the last few months? While the pricing action was beat to a pulp by the mainstream media, banksters, people going short, and whoever else jumped on the bandwagon, the truth determining factor of a start up industry really took off.
Development continued without interruption during the last quarter. On the STEEM blockchain, as an example, we witnessed many new applications emerge. Some might end up being huge while others nothing. That is the was development goes.
We are walking a parallel line with the creation of the Internet more than a couple decades ago. The dot com run in the markets was sensational for a lot of people. It was also horrific for others who were caught with Yahoo at $500 a share. Regardless of where you look on the pricing scale, the development and creation was consistent over that entire time. Companies were being created in droves. Like with any new industry, a great many failed. However, today we see a few names that came out of that era which are now enormous (Google and Amazon).
Blockchain is the technology of 2018. This is the year it breaks out no matter what the pricing does. It is being embraced across the spectrum. Many different industries are starting to figure out ways to apply this technology to their business models. The advantages are simply to great to ignore it.
Will this be reflected in the price?
At some point it will. Markets always get in line with what is occurring. The challenge is that there can be a disconnect for an extremely long time. We were seriously over priced at the beginning of January. At this point, one can make the case, with all the development that took place recently, we are looking at something that is under priced (as a whole). Again, we can go up or down from here, markets have a mind of their own.
I tell people to ignore the FUD and pricing action when things are going bad. On an up day, while it is a relief to many, the same suggestion holds true.
IGNORE PRICING ACTION!!!!
If the market takes off, great. On the other hand, if it does reverse, so be it. When we focus upon the technology, the companies (applications) that are forming, and the areas that we can contribute, we can guarantee a smooth upward progression. The growth curve in these areas is bullish. It is also exponential.
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I feel the market will remain bearish throughout the year. From loading coinmarketcap every 5 minutes I barely look at it once a week, maybe. I agree, this whole time the news and advances in the cryptospace have been huge and don't correspond with pricing. Lately what I've been thinking is about those people who invested in 2008 and now are reaping their rewards for remaining faithful about blockchain technology. I mean, that was a 10 year investment, we should not succumb to the FUD.
Agreed, I think this move up is temporary and we will continue to go sideways till Q4.
Exactly. I'm not too optimistic for this year, perhaps the next.
I think people should be focused now on how to utilize the technology rather than focusing more on the price. Blockchain technology is still at its infant stage now and this is the chance for many to get into the industry. A lot of us missed our chance with mobile technologies and internet, by the time we were ready for the industry it was were beyond us. There's another opportunity now, which is the blockchain. We shouldn't miss this one.
Great advice. At least half of the Steem community rides the emotional roller coaster on the daily. It goes up everyone cheers, it goes down everyone is complaining about bots and the death of Steem. We are playing right into MSM FUD and spreading it for them.
If anything we should complain about Steem when it is bullish and encourage people to not buy in. The hype of bullish crypto brings a new wave of users into the space and they get immediately burned for buying high.
I like your confidence / peace out !
No one really knows in the short term where we will go as technical analysis can only take you so far. The price ran ahead of the fundamentals given the FOMO at the ens of 2017 however the fundamentals behind the technology is quickly catching up. Given the price declines recently, value and price may have diverged and will spend time discovering a balance as other factors are clarified like regulation. Important strategy is to scale into positions no matter the price.
I believe we will see an expressive price action around June 2018, because of the Bilderberg group meeting.
If its a bear run, they decided to boycott.
If its a bull, oh boy, they will try to control it all.
Watch out for suspicious non-decentralized cryptocurrencies going too bullish.
Let's avoid supporting the dark side of the force.
Lets empower the whole society thru humbleness, not this culture of empowerment thru psychological control and manipulation.
Educate those around you and keep healthy fun and loving circles of friendship as family.
Don't watch tv, watch youtube or any other media you can choose what you see.
Positive vibrations.
https://steemit.com/bilderberg/@v4vapid/bilderberg-and-bitcoin
While you are correct it is sometimes hard to ignore the price action. This because you never know when you will have to extract some crypto moneyout of the market.
The last month we did get used to the fact that all prices where getting smashed time over time. So, I am a little but cautious with this jump. A could be another dead cat bounce but if so, it is a big bounce!
Banker minion going.
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Ah, great advice! Always thought it's cryto prices which should and will eventually align to the revolutionary applications of the blockchains. Of course, that also means many cryptos and tokens will probably disappear as the space matures.
Red or Green don´t mean much, especially for those who are here for the long term.
FUD will always be a factor when we talk about markets and exchanges, but the reality is that you only have to do the opposite and you will be making money.
Btw what happened to the markets today? such a big jump upwards, any reason behind it that I did not heard about?