What's happening now is by far the worst portfolio damage (in dollars) I ever experienced.
Keeping a straight head in these markets is not easy.
What's happening now is by far the worst portfolio damage (in dollars) I ever experienced.
I'm feeling it and I'm sure I'm not the only one.
It's funny how fast the euphoria of Dec/Jan has made place for utter depression rather quickly :)
Right now, it's beginning to look like this could last a long while longer.
I'm mentally preparing for it atleast.
The longest downtrend in Bitcoin I have ever been in was from the end of 2013 to around the end of 2016.
Around 3 years.
I hope it won't happen of course but it's best to get that mindset right.
That small blip on the left was the all time high for a long time
You might think that in those 3 years no opportunities were to be made.
You would be wrong.
In those 3 years a lot of other blockchain projects were being developed and for the people with the right mindset, vision and patience there was a lot of good shopping to be done.
Ethereum at ICO was 1 BTC = 2000ETH for instance. Not a bad deal in hindsight!
Of course the markets are not the same anymore as the were back then.
Making parallels is therefor hard.
Personally, I believe more people are looking to buy in this time.
I think with Steem this is certainly the case from what I read on all the frontends.
The space is also more known than ever before.
But I just don't know for sure what will happen and I doubt anyone does.
Therefor I often call this space lonely.
And it is especially when it comes to investment decisions in these times.
Nobody can really help you, you have to do it on your own.
I therefor made a plan and I'm carrying it out.
I sold in dec/jan with the idea that I could use that money if the markets would turn. (and if not I would have made less profit).
But turned they have and I have waited.
I'm incredible grateful I sold into fiat and now have some cash to look for buy in points.
I'm in no rush but I have bought my first crypto with fiat yesterday since a while.
From now on I will check how the markets develop.
If they go lower I'm a buyer.
If they go up from here I'm content with what I have.
I'm 100% not a seller.
What are you :)
I am a witness with our developer group @blockbrothers for the Steem blockchain. If you want to support us I would appreciate your vote here.
We build Steemify a notification app for your Steemit account for iOS.
Get it Here:
The timing is great for buyer.
It has to do it thing before going crazy.
It feels like we are heading to a $5000+ BTC.
Hopefully the cryptomarket will and should sustain
this new trend in the market.
Hang in there. Personally, I think it is rather funny. I am down over 70% without accounting for the fact that I added more STEEM through earnings since the first of the year (plus bought some other tokens using fiat).
Just the ebb and flow of crypto. I am comfortable with my tokens....I believe I am involved with solid projects (STEEM and BTS being my top ones). The tide will turn at some point.
By the way, Wall Street institutions are gearing up for ETF and a host of other ways to sell crypto to their clients. Look for that to start before the end of the year.
That should make the end of 2017 look like a mild run up.
Hmmm ...
or
These seem like mutually exclusive statements to me. Please let us who are following you know which it is, as this is confusing.
Thank you for writing @exyle!
On the move ... Posted using Partiko Android
Apologies.
I sold in dec/jan to fiat.
I'm not a seller right now. I'm a buyer.
There is a difference between selling once and leaving forever and selling to buy again in the future. Good decision to sell in januari :) Now it is time to slowly chip back in!
What goes up must come down most of the time. Am just wondering where the bottom is and how long will this bear market persist. You are right - lets buy and hodl some of the good coins- we shall sell in the coming bull market, this time bitcoin will hit over $20K for sure :)
I know no one knows what will happen but I don't think we will see a three year bear market like we did in the past. Like you said, so many more people know about it and institutions are setting up shop in the space, or at least planning on it in the next 12 months. All it will take now is some of this institutional money to start pouring in (something we didn't see in 2013)and I believe the market will turn back around.
I am also wanting for a project to come around that makes blockchain easy to use and understand so that we can see more adoption from the public.
It is similar to the internet, things took off when the search engine was created, it was then easily adopted by the masses. Something along those lines needs to happen in this space and I think that there will be a few companies that figure it out in the near future.
But I get it with the hit on the portfolio... I had to turn everything off and lock away my ledgers so I don't check... Steem is the only one that I am looking at because everything else is depressing... But I have faith that it will all turn around and this shitty few months will be nothing more than a story we can tell our kids in the future hahah
Cheers!
Another good thing about Steem is that you can add to your SP while it goes down (blogging or other means). You still lose account value but mitigating a bit of that loss by adding a little bit of SP.
First and foremost: Love the new app. It has made me want to use Steem so much more.
Secondly: In your opinion, is this the time to buy if you have not yet made an investment?
thanks a bunch,
Curt
I know I have nothing to do with this question but if you want some random outsider's opinion... absolutely! Whenever the market turns around (and I believe it will) the prices that we see right now may never come again. Trying to guess the true bottom of a market is insanely difficult, it is easier just to spot a discount and compared to ATH most things are a steal! :)
Just hoping it IS a discount. Thanks for your $.02 I like hearing from any and all viewpoints.
-Curt
It is a scary time and I get it! acquiring as many viewpoints as you can is a great idea!
I am going to buy in some more as well... It could be a big mistake, but I don't think so. I am too confident in this technology.
I truly believe that it is not a mistake! There are plenty of projects that are here to stay, as long as you invest in those, I think it is just a waiting game for you to turn a profit.
Totally. I will put in what I can now and I believe, sooner rather than later, I will double or qunituple what I put in.
We had a huge drop so thinking about it is not a bad idea.
But nobody knows for sure wether it will get worse. (I don't).
To mitigate that risk I have always bought gradually.
It is a lonely space, you're right about that. I think i'm the same right now, i'm in to buy at the moment and during market lows. Thanks for sharing this. Made my lonely place a bit less lonely!
There are some great projects at discounts! Those that stick with it and can wait this out will have the stomach to trade in any market! haha
I too am in for the long haul. I did not get into this to make a quick buck. Slow and easy is my MO. And I am able to sleep at night without worrying if I did the right thing or not or worse...did the market fall again?
I'm no seller either, not that I have a lot invested. But at the moment I have some small amounts of other coins but most Steem. And what I earn with steem I put directly back into the platform by powering up. Although it is attempting to buy some Steem I'm not sure if I will...
Thanks @exyle. Yeah Iam a Buyer as I did last night with some more Steem. I even wrote my recent blog post why I decided to Buy more Steem last night and Powered on Up.
Mark, I think what you're doing is very prudent investing. I think you are Spot on. Unless of course you're not :) But that is for anybody not matter how prudent they are. In the end though you are t putting the odds in your favor and that's the best anyone can expect.