I focus more on the value of the assets rather than the prices. I think most of the cryptocurrencies have still a ways to go to increase their value due to low adoption. Bitcoin has gone farther than most in creating value for traders and stores of value but has not achieved the adoption as much as is needed for a $20k price tag. Given that, I am prepared for either move as way and will buy and sell accordingly. I think it is good we are experiencing these price changes so that we can learn from the market cycles to prepare to make smart decisions.
Hey Louis, the first time I see you and I think it's funny what you say about the price of bitcoin.
I think that we are already experiencing this bear market with what happened in December - January of this year with the crash of btc, I really hope for the best and get out of this prediction.
Well it is the delicate of the crypto currency that you do not know what direction they can take, I happened with a project called Avinoc I bought tokens in $ 0.5 presale hoping that it would raise the price in the first week because it looked pretty solid your project but to my surprise It collapsed to 0.01 $.
I already believe that I am mentally prepared if the BTC falls, lol.
The crypto market is still looking for direction, because of the fundamental news that is detecting the price of Bitcoin. But I don't think the bearish market will makes Bitcoin to fall sharply in price this year, Bitcoin will finish this year on a bullish run because of the massive adoption of Bitcoin by various countries and the masses to their daily transactions
:) Your advice caught me a bit by surprise. I've been trying to raise my stake in Steem for a few months and I'm still investing more and more time in earning cryptocurrency. At least they're way more stable than the Venezuelan bolivar which is falling at more than a million per cent inflation yearly.
Are you from Australia, by the way?
And what do you recommend we do to prepare for more bear market if it doesn't go bullish this year?
What a view 😮! I bet right after the video you jumped in. It’s one of the most important aspects to be prepared to loose your money when it comes to any investment. Once you are prepared for any case scenario, your patience will pay off eventually. I personally am more and more convinced we won’t have to worry about bitcoin going that low. The adaption has already gotten sooo big, too many people won’t sell at levels such as $5k. Instead more buyers will jump in. But you never know in panic situations. One is for sure, I’m staying in crypto no matter what and if we dip down below, I’m a buyer. Bitcoin and blockchain technology “is” the future, there is no doubt in my mind.
Unfortunatily crypto market is unstable from last 2 months. I have seen steem decreasing rate. Many of people waiting for steem rise. Btc is also looking unstable. But I don't think the bearish market will makes Bitcoin to fall sharply in price this year, Bitcoin will finish this year on a bullish run.
Wow, that is a somewhat realistic approach. I guess for the typical investor this might be true. I have never seen myself as such and rather as someone who is constantly earning cryptos and trying not to spend too much of them in the bear market. Waiting until 2021 or beyond would really test my patience though. Endurance seems to be a precious trait for crypto enthusiasts.
In life, in investment... hope for the best and be prepared fo the worst. That’s how everyone’s mind should be set in any situation. From what I keep hearing in alternative medias is that we are not heading for any bright future. Look around what’s happening. Venezuela, Greece, Turkey, Argentina... that’s enough for me to have a good reason to be buying any dip in bitcoin we have had so far. It’s spreading and more people are looking for safety.
Great video. I think most people just assume BTC will reach new heights but haven't considered the possibility of BTC reaching lower lows. Either way there is nothing that the investor can do except to position themselves in a way where they can take financial advantage of both potential outcomes, or as you say at least be mentally prepared for both potential outcomes.
Thanks Louis for the great thoughts. I agree the #1 objective is not to capitulate and be prepared for the worse. In theory if someone has planned in advance correctly should be happy to see btc drop to 1.3k as it would be a good buy opportunity!
My mindset is that I'll just hodl, even if it all goes to zero. Might be a waste of time and money but if you believe in something, don't give up on it. It would of been wise to get out and buy back in at a much lower price but I don't want to go back to fiat, or something linked to it. I'm not risking money I can't afford to lose, so there's zero fear. I'm not putting more money in, there's enough ways to increase my cryptto pot, steemit is one of them.
I focus more on the value of the assets rather than the prices. I think most of the cryptocurrencies have still a ways to go to increase their value due to low adoption. Bitcoin has gone farther than most in creating value for traders and stores of value but has not achieved the adoption as much as is needed for a $20k price tag. Given that, I am prepared for either move as way and will buy and sell accordingly. I think it is good we are experiencing these price changes so that we can learn from the market cycles to prepare to make smart decisions.
Hey Louis, the first time I see you and I think it's funny what you say about the price of bitcoin.
I think that we are already experiencing this bear market with what happened in December - January of this year with the crash of btc, I really hope for the best and get out of this prediction.
Well it is the delicate of the crypto currency that you do not know what direction they can take, I happened with a project called Avinoc I bought tokens in $ 0.5 presale hoping that it would raise the price in the first week because it looked pretty solid your project but to my surprise It collapsed to 0.01 $.
I already believe that I am mentally prepared if the BTC falls, lol.
The crypto market is still looking for direction, because of the fundamental news that is detecting the price of Bitcoin. But I don't think the bearish market will makes Bitcoin to fall sharply in price this year, Bitcoin will finish this year on a bullish run because of the massive adoption of Bitcoin by various countries and the masses to their daily transactions
:) Your advice caught me a bit by surprise. I've been trying to raise my stake in Steem for a few months and I'm still investing more and more time in earning cryptocurrency. At least they're way more stable than the Venezuelan bolivar which is falling at more than a million per cent inflation yearly.
Are you from Australia, by the way?
And what do you recommend we do to prepare for more bear market if it doesn't go bullish this year?
What a view 😮! I bet right after the video you jumped in. It’s one of the most important aspects to be prepared to loose your money when it comes to any investment. Once you are prepared for any case scenario, your patience will pay off eventually. I personally am more and more convinced we won’t have to worry about bitcoin going that low. The adaption has already gotten sooo big, too many people won’t sell at levels such as $5k. Instead more buyers will jump in. But you never know in panic situations. One is for sure, I’m staying in crypto no matter what and if we dip down below, I’m a buyer. Bitcoin and blockchain technology “is” the future, there is no doubt in my mind.
Unfortunatily crypto market is unstable from last 2 months. I have seen steem decreasing rate. Many of people waiting for steem rise. Btc is also looking unstable. But I don't think the bearish market will makes Bitcoin to fall sharply in price this year, Bitcoin will finish this year on a bullish run.
Wow, that is a somewhat realistic approach. I guess for the typical investor this might be true. I have never seen myself as such and rather as someone who is constantly earning cryptos and trying not to spend too much of them in the bear market. Waiting until 2021 or beyond would really test my patience though. Endurance seems to be a precious trait for crypto enthusiasts.
In life, in investment... hope for the best and be prepared fo the worst. That’s how everyone’s mind should be set in any situation. From what I keep hearing in alternative medias is that we are not heading for any bright future. Look around what’s happening. Venezuela, Greece, Turkey, Argentina... that’s enough for me to have a good reason to be buying any dip in bitcoin we have had so far. It’s spreading and more people are looking for safety.
true mentally prepared
Bitcoin will rule the world.
Great video. I think most people just assume BTC will reach new heights but haven't considered the possibility of BTC reaching lower lows. Either way there is nothing that the investor can do except to position themselves in a way where they can take financial advantage of both potential outcomes, or as you say at least be mentally prepared for both potential outcomes.
Thanks Louis for the great thoughts. I agree the #1 objective is not to capitulate and be prepared for the worse. In theory if someone has planned in advance correctly should be happy to see btc drop to 1.3k as it would be a good buy opportunity!
@louisthomas prices do not bother me frankly at this point. Am more focused on positioning myself for 5 years from today
My mindset is that I'll just hodl, even if it all goes to zero. Might be a waste of time and money but if you believe in something, don't give up on it. It would of been wise to get out and buy back in at a much lower price but I don't want to go back to fiat, or something linked to it. I'm not risking money I can't afford to lose, so there's zero fear. I'm not putting more money in, there's enough ways to increase my cryptto pot, steemit is one of them.