The Market Fluctuation and the Law of Conservation of Money

in #cryptocurrency7 years ago

Monday bloody Monday. Almost all the cryptocurrencies are in the red today, down by around 10-20%. Although greed brings joy when the market goes up, people daydream about their lambos when they see green across the board. But when (anticipated) days like that happen, doom shrouds the green sky and casts a gloomy shadow on those rich ambitions. However, for me it's just another sale day to enforce my positions; the good old adage of buy low, sell high never loses its meaning.

I also like to keep smiling because in my mind I always find comfort in the first law of thermodynamics, also known as the Law of Conservation of Energy. The same applies to money. When someone is panic selling, someone else is happily buying. Therefore, the money remains in the pot, it's just jumping around from one currency to another, including crypto or fiat currencies.

So what is the recipe for great profits? It's really simple: diversify your portfolio, hold the cryptos that you have studied, researched and believe in, keep stacking and HODL.


(click the image for its source)


DISCLAIMER: I'm not a financial nor a professional adviser. I formulate my opinions based on my research and interpretation of market news and chart analysis. If you're not a professional investor, please educate yourself before doing any market trading and don't risk more than you can afford to lose.

Follow

Available & Reliable. I am your Witness. I want to represent You.

🗳 If you like what I do, consider voting for me 🗳

Vote

If you never voted before, I wrote a detailed guide about Voting for Witnesses.

Go to https://steemit.com/~witnesses. My name is listed in the Top 50. Click once.

Alternative voting methods

https://v2.steemconnect.com/sign/account-witness-vote?witness=drakos&approve=1
cli_wallet: vote_for_witness "YOURACCOUNT" "drakos" true true
steem-python: steempy approvewitness drakos --account YOURACCOUNT

Sort:  

Well said, still holding strong here and not selling anything in the red, I was not selling in the green even.
Still waiting to see your top crypto choices, we demand a post on that!

Ok ok, I'll do that this week :)

You are truly one of my favorite bloggers on Steemit, Thank you!

Btw, do you still have some of that BTC from $1800? 🤑

Never bought any bitcoin at $1800, but bought many at 250-500 range. Sold some at 13k, 16k, and 19k but still hold 95% of my coins from Bitcoin, Eth, Litecoin, Dogecoin (a special one since it was my first investment) Nem (holding this since the ICO on NXT platform), Ripple, i need a page to finish the list i have, but will really want to see which are your favourites.

In days like today I am like, watching coinmarketcap:

Good advice @drakos just like the warren buffet always says “Be fearful when others are greedy and greedy when others are fearful!”

Very insightful post Drakos. Everyone investing in cryptos need to be levelheaded and not get carried away by the wild swings of the tide. Buying low and selling high is everyones dream but i wonder if many can manage this. Hence, profit booking from time to time is off essense and success. Whatever goes up has tp come down by law of economics :-) . 2018 should be a wonderful year for cryptos and hence i am fully invested at this time. Regards Nainaz.
#thealliance

I love this article.
Clear and short (I've got nothing against long posts though)

My take away from the article:

"When someone is panic selling, someone else is happily buying. "

Steem on

PS: I followed you. Mind following back?

Warren Buffet says:
Be scared when others are being greedy and be greedy when others are being scared.

So what is the recipe for great profits? It's really simple: diversify your portfolio, hold the cryptos that you have studied, researched and believe in, keep stacking and HODL

I concur to the above opinion because it is the key to acquiring great profit in cryptocurrency. With proper research and hodl you can acquire 1000% to 3000% and above profits, for example buying of verge and tron like two months ago and selling at early this year explains it all.

I got into Verge a bit late, in January. But there's still a lot to profit when it goes above $1.

I'm se relax I don't care if market bloody or boy huh I know oneday market will be green I'm waiting

If this Monday was bloody,next will be best for green

wuao what an incredible publication! vote please thank you very much

Okay, that last image of the traders spreading hearsay into a mania is pretty funny. Crazy as crypto, but in blog form.
Good article, always important to see opportunities through the fog of emotion.

Great advice! Like you said, I think a lot of people get caught up and sell, when in reality they should be holding and buying. I am okay with a little dip because I know that tomorrow it could be way in the green.

Buy the dip. I'm glad that we have red days because it makes it easier to stack my cryptos.

I'm willing to buy happily, only if I never spent all my bullets before this correction..

In my eyes, the most important question now, is how long will BTC correction take. Good to use for finding out the answer is Elliott Wave Patterns. Please check out my href="https://steemit.com/trading/@dkn/puzzle-of-the-week-what-is-the-next-move-of-bitcoin-let-s-find-out-together">post I am looking forward getting traders assistance to find the match with existing corrective patterns.

Thanks for your updates, @drakos! It is always cool to read your thoughts

This information is very nice to us, which deals with the fluctuations of the markets and how to protect our money from loss and reliance on the predictions and developments of the market and global conditions, and thanks so much for sharing this information.
Good lick my friend @drakos 👍,,, all the best for u
Good luck

When in doubt, refrain from being a muppet!

Lol. I got a good chuckle out of that comic. That pretty much sums it up. Wish I had some dry powder right about now.

Nothing to do but to hold and wish.

When you sell cryptos... what do you sell into?
Or, if you do not have a bank account, and won't trade the US$, what do you trade into when you feel a bloody monday coming?

There are many ways to trade. You can sell into bitcoin, and if you're unsure about bitcoin holding a high value, sell that into USDT. When bitcoin goes down, rebuy, and resume trading.

This long ass Jan month means I might have to cash out due to needing cash and not to panic selling still better than racking up fiat debt or is it possibly better to keep that fiat debt ?

forget about Monday, bloody Tuesday it is hahhaa
HODL

Indeed, I just woke and saw the bleeding continues!

smart strategy, we the new entrants in the cryptocurrency stock exchange market can get to maximise the opportunity at hand here

Really beautiful picture and beautiful sea I always follow you my dear friend