Watching btc and steem loosing a lot in value is catching my interest, but its not really making me nervous.Why?I will share my view. Let me know if you agree or not or if you can add something to this topic.
Nervous market by nature
The cryptocurrency market has always been a nervous and highly speculative market. This might change in the future , but for the last years it was high variance.
Investors and daytrader are looking for fast shortterm profits. Pump and dump plays a big role. Others like you and me are looking for a longterm investing , because we believe that the blockchain technology will play a big part in the most areas of life, finance and society. If you are new or depend on your invested bucks i totally understand you getting nervous. And i admit it is crazy seeing steem loosing 50% in value in 1-2 weeks.
Trust in Bitcoin plays dominant role
Steem is not a stand-alone-cryptocurrency. It is highly related to the whole cryptomarket. If bitcoin falls, everything falls. Bitcoin is like the big brother of cryptocurrencies and the one with the most trust. If Bitcoin looses trust as the one with the biggest community and history, the overall trust is shrinking and alco’s (alternative coins) will loose value as well.
What is steems perspective?
Steem /SP lost significantly in value. For someone being new to steemit, this feels scary.
Simple question: Do you believe Steemit will be big? Yes or no?
If yes, you are doing the right thing. Be stable, stay on line, don’t loose your focus and instead focus on your goals. Don’t waste time on useless insecurities and be positive and productive instead. If no, can you put in some rational arguments without fears or emotions?
Maybe you just invested too much and the loss is painful. That is something i understand. Some guys are more the gambling type and take greater risk. If you’re not that type of guy go down with your %. I mean if steemit will be the next facebook, reddit etc even 5% of your invested money will make you rich. It doesnt have to be 30% or more.
Personal view
I invested 7k $ 2 weeks ago ( read it here : https://steemit.com/steem/@steemboys/why-i-invested-7000usd-in-steempower )There are always chances even if steem would reach lows as 10 or 20cents. I would continue my steemit journey. You should read some stories of the guys that started one year ago, when it was hard to even make your upvote worth a cent a more. These guys were consistent. There wallet wasn’t worth a lot and know its worth 10,20k 50k or even more. I am gonna enjoy what i do, and i like to help you as well on your journey. Consider following, i try my best to support you guys with good content.
A month is not a long enough time to evaluate the staying power of any crypto, especially when you are just looking at the coin and not the tech/platform/ideas behind the coin/token.
BTC - 5k in 2018
ETH - 500 ny EoY
My fav projects to date (only listed if i understand the project not the hype)
ETH
BTC
LTC
XRP
SIA
To Donate :)
BTC Wallet - 1KmQv2oDbnGMwZG1Wcxy9P216Te8jLm6QW
ETH Wallet - 0xDd464328A8dB6424C3C09E21c767c086245F0145
Nice post, I picked up some more BTC yesterday when it hit $1800. Looking good so far.
Check out my coinclub post, would love your opinion on the coins we picked -
https://steemit.com/introduceyourself/@cryptocoinclub/my-first-crypto-coin-club-trade
It is a rollecoaster indeed. I hope that after August 1st everything will stabilize a bit.
crypto world is full of uncertainty you never knows whats coming next
This post received a 3.7% upvote from @randowhale thanks to @steemboys! For more information, click here!
A wonderful re-affirmation of my sentiment toward crypto markets - and my Steemit venture in particular.
Focus - indeed. I have set myself rulz which, when followed, are not only going to build up self-discipline - it will invariably lead to success. I published them early this week.
Followed - Upvoted.
Amen! 🙏
Good knowledge !!! upvoted
I think that steemit will be the first social network in the world because it has the potential to be, it is a new concept different in the world in the social networks, it is time to invest a deep money And time
Thank you for this post,
Hello, I agree with you. I am new on Steemit (July 2017) and I have not invested much because I can not afford. 200 or 250 dollars in 1 month for months is huge, but I do because I really believe in Steemit. I do not want my investment to bring me money I just want my money to increase Steem's marketcap to give him more visibility in the world of cryptomonies. If everyone puts a few hundred dollars into Steemit it will already be a huge step for the network and its currency. What I want is that Steemit grow and become the leader in his field. So if I make a small place and I can win a few dollars, it's wonderful for me. So here is ok I have not invested much, but for me it is a lot and if I had to lose everything it does not matter because I love this adventure. See people working hard every day to grow the network by bringing their time and money. So far Steemit makes it good, my post that paid the most does not exceed $ 4 but it does not matter. After 1 month only on the platform I find it already enormous. So here is the opinion of a beginner I am sorry for English but I am French and the translation is made from Google Translate 😉! See you soon!
Please follow and upvote.. Thanks
https://steemit.com/@uangdatang
hey, it will not make me nervous cause I see it as a hobby :)
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STOPBitcoin today exceeded $ 3800, what do you think?
Yes, I will follow you and produce good content. But first I need to know what Im doing on here. It seems that I post and never get a reply and Im spending all my money and getting nothing in return. How can I change this? I need to know how to pay the upvote etc. Any help from you would be appreciated.