Is it Safe to Say There is Now Blood on the Streets?
Watching as your crypto portfolio tank faster than a lead balloon will never be easy to look at. In fact, it can be downright horrifying! But that's exactly the state of play right now. Another absolute slaughter across the board today and nothing is safe. Even Ethereum! The crypto touted as the next big thing after Bitcoin is actually lower than it was one year ago to the day. Shocking, but true. So, is it time for us all to sink into a deep depression yet?
Well, if quick gains were your sole reason to invest into this space, then yes. You're probably sweating frantically with panic at this moment and so should be. This bear market is on the verge of breaking a huge support level which could see us enter another veritable "ice age" for crypto in general. And what am I gonna do? Dollar cost average from here on in, that's what. Of course, this is me treating my portfolio as a long term investment. There's no other way to see it if you wish to remain sane throughout these testing times. Patience and keeping calm are essential to pulling the trigger at the right time.
Steem is, of course, one such coin I'm keeping an eye on very closely indeed. As of now, it is below 90 cents. Below 90 cents! That is a damn steal. If ever people complained in the past about not being able to buy in because of the high price of the Steem token, now is the time to put their money where their mouth is. Remember that rational perspective is integral for logical thought. The facts are blatantly obvious. There is a hell of a lot going on with Steem in general, at the moment. Development-wise in addition to its undoubtedly impressive user-pulling popularity. Again I repeat, it is one of the only coins to boast having a real use case value attached to it. Therefore, as I wrote before, buying on the way down, especially from now, is a fantastic way to accumulate more. And easy does it. I don't recommend going "balls to the wall" and throwing everything but the kitchen sink into this blockchain, no matter how awesome it is. Reason being, we just don't know where the ultimate bottom support level will be.
I've also notice the FUD starting with the crypto Youtubers. Telling people not to panic, hold on to their investment, looking at the bigger picture. All the signs that point to an impending reversal. To be honest, I love hearing all that so-called "negative" talk. That's what we want. A blanket of FUD where even big corporate international media stations start calling out BTC for the scam that is always was. Trust me, I've seen this on numerous occasions in the past. The saying that goes "Be greedy when others are fearful"? That couldn't be more applicable than now. When this market turns around (and believe me, it will) the explosive nature of the bullish move will be the likes of which we've never seen before in the crypto space. And, as always, the more you've got invested, the greater the multipliers you'll see in your portfolio on the way up. Simple as.
Stay focused and "know" that all this selling off crap is just temporary. Treat this gift of an opportunity with the respect it deserves and maximize on it.
The problem is that everybody is waiting for "the bottom" before investing more money in cryptos, but nobody know where is the bottom.
Yep. "Catching a falling knife" as the saying goes...
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I feel that the time to buy aggressively will be when you start to see media headlines like "Crypto Is Dead", "Hedge Funds Exit Crypto At Fastest Pace Since Bitcoin's Inception", etc.
That is the point of capitulation.
One central investment tenet: "Buy when the sky is covered with dark clouds, sell when there is not a single cloud."
You just give me something to write about. ' winter is coming, brace thyself'
Man, I wish that was my title now! :)
@ ezzy these are good times to invest if there is power to save. and if you have made an investment in criptomoedas, the best thing you can do is sit up and wait for everything to return to normal.
Many thanks for sharing your reasoning and experience
I wish you a great day
Perfect advice from you, @jlufer. Have a great one. :)
Man, I wish I had a shelf with money so I could buy a shitload of Steem. Maybe sell my car will do🙄
...And then buy a Ferrari later. :)
I like the way you think!
Ever since I heard steem was dropping my gut has been telling me to buy, and I have been doing just that. I Hope to purchase atleast 100steem before the month ends.
like you said, there is no better time to buy then now.
Seeing as it's currently dropped over 80%, it makes sense, bud. :)
I think I have to get a job again
Lol, I hear ya, man. :)
No point in panicking. Plenty of good will come from the Steem Blockchain right now, in the near future, and in the long term. So much value is being created.....and as I've written about today as a perfect example a curation trail (@adollaraday) which means even small commitments of voting power improves peoples lives daily and globally!
Excellent "bigger picture" perspective... :)
"put your money where your mouth is"... we're in that easier said than done territory haha.
If we really believe in the future of this space and have spare funds to do so, then it shouldn't be a problem, right? :)
nothing to do now as TMC falling continually . I thing steem can go down 110 sat. still D1 chart showing over sold.