Christmas – The market influencer
.jpg)
That time is here once again. The icon of consumerism. The time when people are able to spend their life savings for utter bullshit. The time that is supposed to bring us together, by why wouldn’t bunch of people make fortune out of it right?
Money does not grow on trees. There is significant pressure from all imaginable sides on most of us, be it tradition, enthusiasts in the family, spoiled kid, etc. “forcing” us to buy presents. Ultimately lot of people reach that stage when they themselves would feel badly if they didn’t adhere the tradition. And so they simply do. Now imagine that plenty of those had suddenly become very rich trough crypto. Maybe…just maybe this Christmas could be very different than the previous ones…
What was bound it happen
There were two aspects that struck me about the imminent “behaviour change” at the market. First of all lot of new people are joining crypto world, where A LOT of them don’t even know what Blockchain is, or what the crypto (mainly just BTC, ETH and LTC) is supposed to do. It’s just easy money right. In past few weeks the capitalization of crypto rose immensely. The time when early investors would want to take at least portion of the profit “to safety” had to happen. Luckily at the very same time Christmas was nearing. This year the trend of “selling crypto to buy presents” might have changed into something like “crypto seems like a good present”, but from my perspective it was too early for that to happen. Well and the investors that wanted to take the profit + Christmas – the time of buying tons of presents perfectly matched. As I described in my previous article I have been preparing for the dip for few days already, selling some of the Alts I had for BTC. Partial dip has happened right after that. Right now we are somewhere at the middle station between HYPE and FUD.
Strategy for upcoming days
I truly believe that the there is not going to be any real FUD anytime soon. Yes some of the noobs will have weak hands as the minor FUD showed yesterday. Tomorrow is the last day to buy presents and I expect very similar crash. It might go slightly lower than yesterday, or slightly higher. I for one increased the last BTC buy order (2 were eaten yesterday…finally!:D). I really want to buy in this dip and the last buy order missed the mark just barely. If there will be no significant dip tomorrow, I will strongly consider buying for the prize at hand (if the BTC will stagnate). I truly believe that the hype is not even close to an end. This is just a minor step back. I have bought some of the Alts that fell lower than the rest today back, just in case, but I actually expect even bigger Alt crash tomorrow. Until the end of the year the BTC will pump again and god knows what Alts will do. They will probably lose its value against BTC, but who knows at such a bullish market? Well after handling the Crypto sales quite well let me check the Steam ones now:).
What do you think about my market analysis? Is there anything I miss or don’t understand? What was your strategy during those wild times? Share your experience with me guys!
I haven't changed anything. Holding. I bought more LTC and besides that I'm swapping SBD's for steem then powering up just as fast as I can. I'm enjoying the idea of 2018 and 19 as I think the herd will be in after that so anything done now IMO is the early bird gettin' the worm. I however do not like the fact that Wall street has it's grubby hands on BTC and there are rumors of the rest of the alts being traded in a fund? This has me a bit worried but what can I do besides play the game...........
Why are you powering up right now when the prize is booming? Why not power up when the prize settles down and stagnates for a while? Can you share me the link to the "alts being traded in a fund? I havent heard it until now. Otherwise I have to agree!
I haven't been with the platform long enough to have enough of the prize that would make a difference to collect on. Besides the prize for me is saving up for the long haul and by that I mean in the next couple of years. We're still early in the crypto game IMO so I'm happy in that respect. As for the Alt trading fund check out broncnutz here on steemit he mentions the fund in his latest post while talking about smart cash "big crypto news plus smart cash prediction". I was baffled myself but what is one to do but play the game?
Well not so early anymore, but still somewhat early yea:P otherwise i agree and thanks for the tip.
You bet brother! We are a community here for one another! Merry Christmas to you and yours..............
wow .. and I thought I was the only one that felt that way! great rant - I look forward to reading more of your stuff
Thanks! its nice to see new "faces" around:)
I feel like most struggle just to make it all year long and right when they get to the end of the year , and they might have put a little something aside - instead of growing that and having more resources for the family - they are bilked out of the last of their money with gift buying obligations - just to continue some tradition. Having to buy gifts causes lots of stress and anxiety as you can see by any commercial for Christmas shopping - there is this obligation to "find the right gift" for all these people and everybody goes into debt just to participate in a commericalized holiday that doesn't even pretend to be about Christ anymore. And then all the after Christmas videos with all the ungrateful kids who hate their parents because they bought them the wrong color iPhone makes me sick. I always tell the kids to please not get me anything and pay off a bill instead... for God's sake if I want something , I will go to the store and if buy it- I don't need to wait for the Sun to go around the Earth another year before getting things. When I love someone and want to get them a gift , I just do it - doesn't matter what time if the year it is. I wish more people would catch on to this - the social stigma of having to participate in Christmas is tiresome...
alt is the way forward until the mess with Bitcoin gets ironed out
What do you mean when you talk about the "mess with Bitcoin"?