Remember when playing crypto to play the long game
Every time the STEEM price drops I write a post to remind people to keep Steeming. This is based on a couple of fundamental principles:
For reasons I will never understand, people stop posting on Steemit when the STEEM/SBD price drops.
Steemit pays out on posts after 1 week. Every time I have written a post like this, the price of STEEM and SBDs has recovered considerably by the time my post (ie this post, in this case) pays out.
Even if it doesn't recover in the next seven days, if you write a post a day, like me, you will catch the upturn whenever it hits. And it will hit.
Writing a post a day can become a habit, something you just do. If you stop, you will lose the habit.
But today, in the face of yet another serious crypto meltdown over the last couple of days, I'm expanding my post to include remarks about general crypto. And here it is worth remembering that at this time last year the total Market Capitalisation was USD $94Billion, and the all time high of $110B had only just happened.
Now today, at just under $300B at the time of writing, it is worth remembering not only this, but that six months later the total market cap was approaching USD $1 Trillion.
And remember too that cryptocurrency is a long game. Don't sell in down markets (and that's what this is - it will come back) unless you really have to.
The prize will be big, if and when it comes, so hold out and don't sell yourself short.
But don't trust me, I'm not a financial advisor - do your research! Check it out yourself!
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Good insights sir. I wish the wider crypto community would take some time to understand why the altcoin prices rise and fall with the foundational Satoshi.
If the day ever comes when altcoins can untether themselves from bitcoin, the entire market will stabilize and lower the volatility for sure. I personally think bitcoins price is manipulated by major players who can take advantage of the huge swings to strengthen their positions but I have no proof.
Loads of people here think that government regulation is necessarily bad (I don't). In this case it would stop (or at least minimise) market manipulation by big players.
Agreed, regulation will open the doors to institutional money which can only bring bigger profits to those holding now.
Keep calm and be patient!
Yep!
Lots of panic today, nice to hear from another who's in for the long haul. We'll see a rebound soon enough.
Sure will, if history's any judge!
Normalmente el bitcoin se desploma una vez por mes, y luego en las próximas tres semanas se recupera... Y al caer el bitcoin, se caen todas las otras crypto monedas. Así que a seguir publicando pero no canjeando
Exactly!
I am trying to make a post every day. I am doing it, for past few days. Hope, it will become habit. Also good to know about current market thought. Thanks
No worries!
Well done on writing posts too. It can be a bit hard at first, but trust yourself and it will be okay 🙃
I will try my best. Thanks for your encouragement words. That is something we newbies needs.
I agree with your article. we have to wait for a good day. Our good day is very near to us. At this moment patient is very essential to us. Thanks for your nice post.
Yep, exactly!
Wise words. What I wonder is how many people stop Steeming during the dips and dont come back again - bu they will be back when the price hits $10 and will regret not spending that time earning cheap Steem
Wow, $10 STEEM. That would be cool!
But I agree. When the price s cheap is the time to build up STEEM!
:) One day it will be $10 :)
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