CRYPTO BLOODBATH
Last days Crypto market is dropping really hard and guys who do technical analyses (I'm not a fan of TA) say that if BTC support line of 8400$ is broken, we will revisit 6000$. Altcoins are dropping even more and if BTC really revisit 6000$ than we will see some incredibly cheap altcoins. Like every market, Crypto market has Ups and Downs and all this what is happening is normal.
What is not normal for me in this situation is human nature and how we behave when market is dropping.
When market is Up and prices of all coins are high, people regret why they didn't bought when prices were low. Now when we have low prices, almost everybody are afraid to buy.
For me, it is very hard to find real reason why people are selling their coins when market start dropping.
Only thing that is understandable is margin call but in my opinion you should never buy with borrowed money.
For example, EOS is at 5$ and STEEM is around 2$. It is really hard to find reason to sell this coins at this prices. STEEM already have important use case and Steemit is growing its users every month.
WHY would somebody SELL STEEM at 2$?
EOS is my favorite token and I believe that it will have huge usage. I don't wanna talk now about it's use case.There are lot of articles and videos about it, if somebody doesn't know what EOS will be used for.
My point again is, if you have invested in EOS than you probably know what will EOS be used for and how huge potential is in it.
If that is the case then again WHY would somebody SELL EOS at 5$?
Sometimes is really hard for me to understand human nature and behavior in market drops. On the other side, that is good for me and I will use this prices to buy more EOS and STEEM.
There is few more quality coins out there ( in my opinion 90% are shitcoins without any current or future use case) at good prices and if you believe in its potential, maybe this prices are good for you like current EOS and STEEM prices are good for me.
I would like to here your opinions about current crypto market situation.
This is not investment advice, if you wont to invest you should do your own research.
I have only one advice during such messy days:
HODL
it is HODL
HAHAHAHA this is the greatest video ever made! HODL!!!
agree ahaha HODL to the MOOON!! HAHAHA
@doomsdaychassis - excellent vid! HODL the line... the Spartans will be the backstop for BTC. IMO volatility in the Cryptomarkets is increasing- just like volatility in the stock and bond markets in the US and world exchanges. It's really a supply and demand thing, although when some big traders sell it can move the market & that's what we are seeing I think.
LOL
LMAO...nice one!
Hodl!!! Fino alla fine
Oh, man, I had a laugh : ))
That was awesome!
we are all in this together so we gotta HODL and resist the urge to panic sell.
video of the month
you spelled it wrong....it's spelled "HOLD"!!!
https://steemit.com/hodl/@thewolfofcrypto/what-does-hodl-mean-where-did-it-originate
If you read as English then it’s wrong but some how it’s gets popular and people in crypto world always use term ‘hodl’ instead ‘hold’ that meant to be hold.
You are correct, and the full form of that word "HODL" is "Hold On Dear Life"!
Which essentially means buy and hold for longer period.
HODL isn't an abbreviation, it was a typo (for HOLD) that stuck as a meme in the early days (like "magic internet money").
Could have sworn it was HODL
No, he has it right. Hold is a very basic statement. Hold on For Dear Life is something very different.
In the crypto world it is spelled HODL !! It looks wrong but to crypto enthusiasts , its spelled right ! lol! 😊👍
In traditional asset ecosystem: you HOLD,
but this is next generation of assets, money, currency and next generation of Democracy as a whole. that's why you: HODL there!
Thanks, very good post !!!!
Awesome Work!
Keep it up!!!
@cryptoinvestinfo
What is your favorite Hardware Wallet?
Only the LEDGER NANO-S. Don't even think of TREZOR
yeah keep up good work
Yer hodl and buy buy buy... do not sell..
lol its hodl meaning 'hold on for dear life' lol. but in answer to the post of why would people sell at a low price if people need the money now then they will sell some people dont have the luxury of holding invested money there are bills to pay lol! please upvote for visibility please thanks =]
Nice
It funny how people are eager to sell their entire life when btc is on a bull run because of FOMO but behave like a baby when the market is tanking out of FUD. In my own perspective people like these got into crypto selling their mortage or through bank loan. As any reasonable person would advice, "always use your personal money you can afford to lose into crypto investment", but believe it or not.
CRYPTO IS HERE TO STAY
Thanks for the great write up. You are totally correct about people's thinking they should have bought when it was lower and now they are scared to actually buy the dip. It's all because of the FUD. FUD caused the dip but keeps many from buying the dip even if they had planned or hoped to. The governmental FUD has caused many to sell and kept many from buying.
Thanks for the great write up. You are totally correct about people's thinking they should have bought when it was lower and now they are scared to actually buy the dip. It's all because of the FUD. FUD caused the dip but keeps many from buying the dip even if they had planned or hoped to. The governmental FUD has caused many to sell and kept many from buying.
)
and then have its course be decided by a slow and old giant?
Would be nice if we could buy directly STEEM...
The most important thing here is to have aproper mindset. People who see crypto as a magic opportunity to become rich are in panic now. People who see it as a complex business that require a lot of work and expirience understand that losses are a vital part of it. Now is a good time to read more, get yourself educated on technology, marked conditions and etc.
Yes, I agree. I'm hearing calm voices and some are in panic mode.
A couple of saying that help me in the past.. "This too shall pass" and remember the famous words of Joe Dirt, "Keep On, Keepin' On". That's exactly what we should do. Better days ahead.
Every time I buy I'm prepared to hold. I'd like to sell some to make more to buy more, but I'm not there yet so I'm following the when people are scared, they run and this is where I get bargains. Also learning about all the back stories and social media that comes with this.