A word of advice during panicking hours
I see a lot of people freaking out about the price of Bitcoin and other cryptocurrencies, and why wouldn’t they, looking at the redness of coinmarketcap can be a scary feeling.
However, I wanted to put things into perspective and give a word of advice that can hopefully help you remain calm:
- This time last year the price of Bitcoin was 737 USD, which means we are still 1662% up!
- Nothing goes up forever, every asset must go down from time to time, its call profit taking and its healthy.
- Bitcoin is still a scarce asset; price will tend to go up in the long term.
- People spend a lot of money during the holidays, which means they need to sell their cryptocurrencies.
- Everybody wants to buy the dip, but they tend to panic when the dip finally arrives. In other words, THIS IS YOUR TIME TO BUY!
But most importantly, if you believe in the technology behind cryptocurrencies and what it can do to change the world, the price is irrelevant.
Now, let’s have some fun and guess what the bottom will be? I am going with 10.500k
This is exactly what I have in mind , positivity . Buy buy buy should be right now to all of the red marks . What goes up always comes down . LTC was just $350 yesterday and came down about $150. Steem itself went half in price . The whole market is down, but we shouldn’t panic , it will eventually rise again
if it breaks 10k we can see 6 :)
@chitty - Sir you provided us a good advise... We should not be panic... This is the gift comes from Santa... Christmas sales of crypto... That's how I feel it...
Merry Christmas Sir...
+W+ [UpVoted & ReSteemed]
Up and downs are normal behaviour in any kind of market we just have to keep some patience and it will back to normal.
bdw nicely explained ... @chitty
Thanks, I guess it will be 10K,.. for sure not 10.500K ;-)
And YES WE HAVE TO BUY !!! this is the moment.
This was expected, I don't think we'll see the price go lower than 10,000 though. I'm thinking about picking up some bitshares in the dip!
@chitty,
Dude in your last article, you talked about SBD and you talked about the PEG! AT that day I decided to convert my SBD to STEEM! Now I could understand what you said at that day and by following what you said, I made a nice move there!
So as you said, yeah BTC can't climb in that way forever! Now it's X'mas Sale of BTC! Better collect and get ready for the 2018!
Thanks for sharing your great view about current market prices! Really appreciate it!
Cheers~
Thank you for reading me bro, I am glad you made some profits selling SBDs. But remeber that is better to sell SBDs on exchanges and not convert them via Steemit.com, that way you get more, much more.
@chitty,
Thanks for the advice bro, I think you are talking about Bittrex! Yeah I am using it too!
Cheers~
Yes, one like Bittrex.. good to know!
@chitty,
Really appreciate your response! Thank you!
Cheers~
Thanks for sharing. The chart is looking like the consolidation is coming to an end. Could be a good time to pick some up. Good luck!
Indeed - a wise man once gave me the same advice. Buy into the crashes. If you believe in the underlying tech it'll swell again. Now I don't panic when the board's red. I salivate 😂
sound words from a veteran. I see it as a Pre Christmas Sale, buy one - get one free