Crypto Investing - Price is Irrelevant in the Short Term?
Cedric Dahl says "Crypto price moves don't mean anything short term and aren't related to the fundamental value any coin has actually captured".
Here's my response!
And here's the link to Cedric's video that was mentioned:
🧠 Want to get smart about crypto investing? Download my brain here:
https://louisthomas.co.uk/download-my-brain/
▶️ 3Speak
In regard to Cedric's video, for bitcoin to go up that much, it pretty much requires LN adoption. Without it, on chain transactions will be so slow that to get one into a block, you're probably looking at $1,000 USD transaction fees. We saw a bit of this problem in late 2017, but it will happen again if on chain congestion comes back which is certain if we get the levels of adoption that Cedric talks about.
I agree with you. Price is not important, everyday fluctuation is moving prices. So, the only important thing is to continue investing, with more investors, the price could be up better in future for sure...!!
I think the price for now is very cool, many people can invest now, because if the cost changes for a high cost, new steemians can’t get it...
So, fluctuation always will be moving the prices for a better one or just to stable it ...!!!
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I’m guilty as well, I would like to see steem doing a bit better though. Cheers mike
Hello @louisthomas, how are you doing? Yes ... I agree with Cedric's opinion that the Cryptocurency price is not very influential in the short term because the price fluctuations are only a little. Enjoy your day, sir.
I definitely want to conform, the reason is that I think any coin we're holdling or having now haven't even shown any elasticity because they're truest potential is yet to be felt, actually I syollt think in ten years time Bitcoin may become a million dollars. That's the elasticity.
DCA only useful if it doesn't go to zero. Fingers crossed.
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Price is just demand and supply while value is so much more as it incorporates future flows as well.
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We should celebrate each day we don’t look at crypto prices 🙈
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In regard to Cedric's video too, In crypto or stock market everybody wants to become millionaire over night but it's slow rich process that works 100%.
When i was watching videos, I was remembering this. . .
Jeff Bezos (Amazon CEO) : Your trading strategy is so simple, Why nobody follow the same?
Warren Buffet (Stocks King) : Because nobody wants to get rich slowly.