Media loves these moments when the crypto markets are red, they write in big bold letters; " Bitcoin Is Freefalling." They gloat and enjoy seeing the crypto blood as they themselves where "too late" to invest they now want to prove that crypto is all in a bubble.
What they don't understand is that nothing has changed, the blockchain technology and cryptocurrency is here to stay, this is just a correction at a very early stage. More importantly they don't understand that crypto is not a bubble, it's the needle, and it it's poking more and more holes in the real bubble - the fiat bubble.
Placing some of the money in crypto is very smart move as the fiat currencies are inching closer and closer to their true values which is ZERO. While many claim that cryptocurrency is increasing crazily fast in value the argument could be made that it's actually the fiat currencies that are loosing their values.
It is the fiat bubbles that are bursting that are inflating the cryptocurrency markets.
Considering that the crypto market cap doesn't even constitutes 1 percent of the value of the stock market. More importantly if all the fiat currency spinning around out there only a small tiny fraction of it has entered the crypto world. Only 0,05-0,1% of the worlds people is invested in Bitcoin at the moment and then you can imagine what the number is for Steem !
You reap what you saw and I am going to let my crypto grow a lot more before I am ready to harvest any big amounts. Patience is a virtue and corrections like the current one should be expected and are necessary to gain new momentum! So fasten your seat belts because 2018 is going to be a spectacular year !
Merry Steemas everyone !
Right? I keep trying to ignore the news, But it seems that now that people know I invest in crypto keep telling me whats going on. Every Time
I've followed the advice of the "news" I ended up getting burned. It's better to just do the opposite of what they are saying.
And yes that USD is dropping everyday. I would much rather put my money into Bitcoin over USD. At least it will go up more.
It's hard to ignore the news as we are many times used to accepting what they say as reality. I also feel the affect because they are good at putting a scare in you.
I totally agree sometimes doing the opposite is the best
Thank you so much for stopping by my page and giving me so many upvotes I really appreciate it :)
I will memorize that title. Good one, Dan.
Thanks buddy :) I was very happy when I came up with the title because I think it's the correct perspective to look at it. Of course bankers and such will continue and be in denial - but we know better than to sit and wait for all fiat to become even more worthless
Agreed with @flauwy, great title. The shared ledger technology of the blockchain will make central banks reckon with shadowy monetary policy.
Technology is a double edged sword but it sure feels that cryptocurrency and the blockchain has resulted in the elite finally getting the short end of the stick
nice analogy Dan, we're a prick up their collective butts :D
I bought some more Steem between 1.97 and 2.16 yesterday, and some SBD, and some other crypto, but I miss BTC at 10.xK damn it!
Up-voted, will also upvote anyone I see who upvotes this post to support ya!
Thanks a lot bro ! I appreciate it :)
Made some nice buys there ! The windows are really short here so it's definitely necessary to jump fast at such an opportunity!
You are right i'm agree with you
I totally agree! We knocked at the door with Steem the other day and it was still locked, but as soon as the Steem price vs. USD pushes that door open to hit new all-time highs, then I don't expect it to slow down much before the $8-10 range. From there it will probably slow down but the average will continue up until wherever it is going to peak, then it may flatten somewhat and fluctuate with the overall market for a while. Some scoff at the idea and that's okay, these blooming things are hard to predict.
The key is mass adoption, will it occur or not? I have only one small doubt about blockchain as a whole, and that is the advent of a rival technology that performs the same function only better. But for Steem there are a lot more variables and it is hard to say with certainty, but I do have a fairly high level of confidence.
In my opinion this kind of technology revolutions only comes by once every few decades, if you consider for example internet being one of them and that this can be internet 2.0 I think we are amidst something so fantastic !
I know you are planning for this to be part of your retirement plan and I think it will allow you to have a very nice retirement indeed
The media will only print or write what people want to read. I totally agree with you, not selling my btc just yet, i will wait till when i feel the time is right
I think unless we are day traders, which is extremely hard, to hodl is a very good option, and of course take some profits occasionally
Yes, sure. what do you reckon about other coins?
Completely agree. Corrections are part of growth, and BTC still has a lot of growing to do. It's a chance to stack up and prepare for your future gains.
It might as well start going up just as fast as it fell so I think it's a good opportunity for sure
This is true that 2018 will be an amazing year, you need the patience to reap the benefit in the long run.
Seat belt fastened
Hehe
Well, ya know- mainstream anything is heavy on ignorance but I say let them have their cake and enjoy. Meanwhile, I'm shopping for some fresh dip.
Like the way you think !
good business friends and hope friends more successful again.
We do hope so! Have you seen "The Big short" movie?
well said dear friend.. crypto isn't a bubble its needl which will destroy empire of wolf of wallt street.... I think things happen in crypto world every time when big whales willling to cash their earnings and start to buy BTC and other crypto at low price.. its best way fr them to earn more.. so stay postive like you sad and save your crypto and hope crypto will change the world and make it better place for living.
read my opinion about the bubble https://steemit.com/blockchain/@unum/if-there-is-a-bubble-on-the-current-cryptocurrency-market-then-when-will-it-burst
I agree with your general reasoning, However you also should think about the fact that the market cap doesn't just represent a company it's a currency. The value of a company and a currency are two completely different things.
Will there be 90 % of ICOs that won't produce anything of what the promised? Yes probably and even more.
That's why I look more at projects with long term life spans such as Steem, bitshares and EOS etc