MR. MARKET HAD A DEPRESSION YESTERDAY - WONDERFUL OPPORTUNITY FOR HODL'ERS
Dear Steemit friends,
WOW! many went nuts yesterday after the news from China hit the stage. All ICO's (initial coin offerings) were banned by the Central Bank of China and immediately all cryptocurrencies took double digit hits in price with Bitcoin the leader in front. It was a bloodbath or heaven for traders!
Following see my watchlist of assets and currencies i'm interested in.
Yesterday i welcomed the fear in the market and added to my holdings or bought new one, thanks Bank of China!
Neo is not on the buying list but look what a impressive dip from $30 to $18.60 which is about -38%! Many say it's like Ethereum but for the huge market of China designed and that could be a catalyst. If you're not familiar with different cultures, many companies from the West struggled in China because they simply don't understand the sentiment and ideology of that huge country. But there are high potentials also for western investors.
Wonderful opportunity for me was IOTA. The price declined from $0.75 to $0.41. That's a -45% dip. I bought in the downpeak. In my opinion the technology behind is great and IOTA has the potential to be a disruptor in the cryptoscene. Their tangle approach is very smart and just a proof of concept which has to further proof it's applicability, but i'm quite optimistic whether they do it self or will be bought by a big company. Currently it's at $0.58 also not bad after alltime highs of nearly $1.
EOS fell under $1 and that was my upper limit. I bought in at $0.90 but it declined up to $0.71. I see a bright future for EOS, but there are also some doubts because of the lenghty ICO and currently no visible products. The price may further decline due the dilution by new EOS currency with the ongoing ICO. On the positive i see prior products like Steemit and Bitshares which are already running and show the capabilities of the team behind Dan Larimer.
STEEM tanked from $1.59 to $1.06. That's a -33% decline in price. I bought already in at $1.33 regardless of the further price dip. I think STEEM will rise long term with mass adoption of STEEMIT but will also in a continous decline because of the inflation. Steemit will see soon strong improvement of UI/UX to be more user friendly and appeal to users of known social platforms.
Trueflip successfull collected about $8.5 million within in the crowdsale and now bring the blockchain lottery to the top. New lotteries, bigger jackpot, adjusted ticket pricing, marketing campaigns should drive the ticket sales til the end of the year. Trueflip tokens have great incentive with 10-15% from revenue of each sold ticket. The price of tokens tanked under $1. I added at $1.10.
Bitcoin is the leader of all cryptocurrencies and stand for Gold 2.0 even if there are no physical shining thing you can touch. With the split of Bitcoin Cash it hits the $5.000 mark. Now we are back on $4.200 which is still high. I use Bitcoin mostly for buying other currencies but hold a small amount for long term.
Ethereum is currently in his Metropolis phase with a lot of improvements. They are off schedule and some said they probable finish penultimate phase just in 2018. Currently Ethereum is heavily used in all the ICO's which were now temporarily banned in China. The price of ETH tanked from $390 to $271 a 30% drop. I added at the $300 price mark. I use Ethereum mostly to buy other currencies or for participation in ICO's in the past.
Bitcoin Cash has great marketing appeal and some technical advantages over Bitcoin. I bought at $505 and hold a small amount for long term.
TenX is fast growing in team size and customers currently. They have roadworks, like Comit, US market start, add new currencies and so on. They are committed to highest standards. Price tanked from $6.21 now thanks to China further to $2.69. That a -56% slash in less than a month. I think they have good chances to be leaders in their sector in a few years.
I think we're still in a bubble, but long term it should not matter. For me it was yesterday like Warren Buffett said (btw: he sees no value in cryptocurrencies currently)
“Be Fearful When Others Are Greedy and Greedy When Others Are Fearful”
important note: I'm personally invested in some of the listed cryptocurrencies and assets. This is no financial advice just my opinion. You're responsible to decide for yourself in what you invest and how much you can afford to lose!
If you like the read please follow me and vote me up! Thank you!
see also my other posts
MAGIC CAPABILITIES WE ALL HAVE AND HOW YOU CAN UNLEASH THEM!
CRYPTOCURRENCIES IN A BUBBLE? - WHERE ARE WE NOW? - WHAT LIES AHEAD OF US?
FAST GROWING INTEREST IN CRYPTOCURRENCIES - HOW REGULATORS TRY TO GET CONTROL OVER THE NEW MARKET
Exciting times ahead steemit friends!
3D logo steemit recreated by author
Please click my referral link to Steemfollower
Thank you!
unmarked pictures/animation from giphy.com, pixabay.com![]
Good insights, @onetin84.
I have a similar strategy with BTC/ETH. Hold some, buy altcoins with some. Definitely a smart move buying in at lower market rates.
As for EOS, I see it dropping much further in price before it spikes with further development and towards the end of the ICO. I would definitely hold on that one too.
I'm switching my investment strategy from some fiat to all crypto as well. When banks are looking into private distributed ledger technology (even the Federal Reserve), you know it's a safer bet long term.
Thank you for your longer comment, saw it just now. Long term i think the FED has no choice and uses the blockchain in their own favor. I thought about switching many times in the last months. Which share should i put into cryptocurrencies? Currently i'm in with about 20% and think about increasing the share maybe up to 50%.
I would definitely go with what you're comfortable, as far as what percentage to invest. Cryptos, while lucrative are still fairly high risk. I put a little more into those I feel have longevity, like bitcoin, steem and a couple others.
I also look at the trends for smaller cryptos, check out their white papers, how they're using blockchain, roadmaps, development teams and potential before considering a smaller investment.
Really, it's a matter of personal preference.
As for the Fed and banks. Its smart looking into open ledgers and I think can only mean more security for cryptocurrencies long term.
pocketsend:100@onetin84
Successful Send of 100
Sending Account: tunnelrat
Receiving Account: onetin84
New sending account balance: 999900
New receiving account balance: 99
Fee: 1
Steem trxid: a3c3740ee2a87a45638373289527679f8bb68682
Thanks for using POCKET! I am small bot and right now I am running this code.
Great post @onetin84 - Love the Buffet quote btw - I think this applies even more so in the cryptoverse than anywhere else at the moment :)
Thanks man! I heard many saying that the rules by Buffett can't be applied in the cryptoverse. I think it's hard to evaluate by the classic metrics like in the stock market. But for me the simple principles remain the same. If a well known and established currency or asset drops -20%, -30% or -40% then it's always not bad for HODL even if we are in a bubble the risk of loss is lower. We'll see what's up at Xmas, i'm curious ;) .. how many bloodbaths we'll see.. exciting times ahead!
True - Buffet's a 'dirty word' for some round here, probably because he's not a crypto-fan. But like you said, "the principles remain the same."
This post was resteemed by @resteembot!
Good Luck!
Learn more about the @resteembot project in the introduction post.
Check out the other content resteemed by @resteembot.
Some of it is really cool!
@onetin84 got you a $3.11 @minnowbooster upgoat, nice! (Image: pixabay.com)
Want a boost? Click here to read more!
This post was resteemed by @reblogger!
Good Luck!
Learn more about the @reblogger project in the introduction post.