RE: Panic and fear during price corrections
I agree 1000%.
Personally, I am a HODL. A 30% correction in the cryptoworld is nothing, especially after a 3x increase in a month. This is not like the stock market where a 5% move is traumatic. In this sector, a 5% move is a coffee break.
Each time it pulls back fiercely, it usually corrects in a day or two. The underlying development is the same as it was yesterday. There are thousands upon thousands of developers banging away on their keyboards creating new apps. Blockchain is changing the world.
My suggestion mirrors your...buy and ignore. Focus upon making this blockchain the best it can be and forget about the price action. It will take care of itself. For STEEM, it is going to be a wonderful Q1 when we eventually get the next fork. That is really going to blast things to another level in a big way.
As for the end of crypto, dont buy it. Wall Street still isnt here and it will soon reverse. Like stated, pullbacks are healthy. Markets need to reset after such long runs.
All the crypto moved in the last 24 hours is in stronger hands than it was a day ago.
This is simply how markets work.
So true... get some coffee and check back later... LOL :)
I did...my holding are down another 5% LOL.
Big money is made in cryptos by HODLing. It really is that simple. We can look back over the history of bitcoin and see some major pullback....over 60%.
Heck even STEEM dropped to under 10 cents...that had to be hard to take. Nevertheless, the ones who have a ton of SP now are the ones who didnt bail but hung in there (and even added if they could).
This is a multi-year deal for me. I do not fret too much about a couple days whacking a ton off the prices...this is going to happen. If I didnt want volatility, something like Treasuries might be a better play for me.
We all love the 40% jumps, need to expect 40% pullbacks at times.
I am a bit upset that I bought a decent amount before this correction, the reason I am upset is because I just bought more and I wish I had the money from the first buy to buy even more right now. HODL.
It's good time to just hold now after solid consolidating of prices. Im very satisfied of my holds in couple of weeks. IOTA is going crazy and got also some BTC when the price was 12k USD!