Pressure Building On The Correction - It's About To Blow
The past week in cryptocurrency might have seemed unexciting to newcomers like myself. I'm beginning to see now that it has been anything than dull.
Why Are Corrections Healthy?
The more info I consume, the more things start to make sense. Of all the reasons this correction has been a blessing, one stands out.
Yes, BTC, and even the majority of alt-coins have taken a hit. But cryptocurrency has hardly collapsed as so many said it would.
The fact that cryptocurrency can take these corrections and be ready to launch, no surge ahead, helps dismiss the bubble theory.
The Correction Cannot Hold With The Rising Rate Of Demand!
Sure, there are other factors in play like the incident last week in South Korea. Fear will likely continue to play a role in the value of cryptocurrency as governments struggle to adapt.
But Peek Over At The Exchanges...
By all accounts, exchanges like Bittrex, Poloniex, and Kraken (to name a few) cannot keep up with the demand of new user registration.
On the last check a couple days ago, Bittrex was still closed to new registrants and Poloniex was warning 6 week delays.
Binance in particular is reporting astronomical amounts of new investors. After a short closure of services, they reopened Wednesday and added 240,000 investors in a single hour!
Study Up On Those Altcoins
As more and more interested parties continue to invest in cryptocurrency, one thing is becoming clear. BTC may be the standard, but it's not where people are putting all their resources these days.
For myself, alt-coins was the way to get invested. Steem & SBD came first, but I needed some direction. Somewhere to cast my gaze for a place to cast some coin.
Where Did I Begin?
Many thanks to @public-eye and @devonwayne for helping shed some light. I headed over to Dogechain, set up a wallet, and made my first investment.
Doge was sitting at about $0.0031 USD at the time. Now it's floating just over a cent, and almost hit 2 cents a few days back. If you bought or traded a lot of Doge, that's a fantastic return.
On top of having some Doge, I've been exchanging SBD for BitShares. Honestly, with all the demand on the exchanges, I'm surprised more people aren't turning to BTS. I believe, along with other forecasts, that BTS will seeing some nice gains ahead.
What Else Is On The Horizon?
I have to admit, I do enjoy jumping over to @haejin lately for some ideas. When it comes to cryptocurrency, he may not always be right. He certainly has the experience though, and knows what he's talking about. There's alot for me to learn in doing so.
One coin I saw that looks promising is VOISE. Not just for the investment value, but for the service it's providing to musicians. Click that link and check it out!
Unfortunately, VOISE was tough to get because I didn't have the cash. Nor was I willing to exchange Doge or BTS for ETH to get it. Not yesterday. VOISE dropped a bit, so I'm keeping a close eye for now.
Wrap Up
If you are new like me, you can't claim to be an expert. You can, however, begin to absorb the info that's pouring in each day.
I don't see how this correction can continue, or even hold for long. The rise of incredible platforms powered by alt-coins, and the sheer number of new investors entering the market each day say otherwise.
Disclaimer: I am not an expert. None of the above info should be construed as trading or investment advice.
All Images Courtesy Of Pixabay.com
Hope You Enjoyed The Blog - See You All @inalittlewhile!
Hope You Enjoyed The Blog - See You All @inalittlewhile!
Correction are healthy and a good opportunity to buy more.
Gold price is increasing as well. Maybe we see a crash at the stock market 2018.
Nobody knows how much gold is in the ground, but Btc is now by 80% of total supply.
Regulations/bans/FUD will hit the market hardly, but only to accelerate the rise of decentralized exchanges and platforms like Openledger and #Komodo
Hello @joewilder. Thanks for stopping by. Wouldn't that be crazy to see the stockmarket crash, but crypto hold firm or surge? Everybody not in would be scrambling for sure. :)
I think we will witness that event. It will be huge and definitely a game changer, but until than: everything is possible.
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Indeed, corrections are healthy and there's nothing to fear at all. A lot of new people who enter the "crypto world" get scared when they see the prices drop. I've been watching cryptos rise and drop so many times over 7 months now, that I don't even care when I see a price drop. Actually, when prices drop, it's the best time to invest into cryptos. It's like a discount!
Thanks for jumping in here @trendo. I have the new shine. It's exciting when they rise or fall. :)
Thanks for your post! I too, am new to the whole crypto world, although I've been on steemit over a year. I'm really starting to get into trading now (or learning about it!!) Right as the correction is happening, of course! Haha. Good luck with your investments!
Oh wow, I'm surprised you were able to make it so long. It could be one of the best times to get in. We'll see what happens. Good luck on your coins as well. :)
As much as I hate seeing multiple big dips with only the one rise, I know they will all bounce back and hopefully even stronger, providing a worthwhile wait after maybe a couple more days when it i finished correcting and rising.
Jeesh, I sure did pick the correct feature image for the day's events. I'm feeling you about being ready to finish this correction. :)
I enjoyed your article! I agree that pressure is building.. these corrections have been an awesome opportunity to accumulate.
Thanks for sharing @chasegapo. Glad to hear you've been able to take advantage. :)
I agree- empirical evidence shows that the demand for cryptocurrency is booming. I'm highly optimistic because governments, banks, and commercial industries are all working on their own infrastructure.
On top of that, the UN is changing the world's economy to reflect massive wealth redistribution and breaking down social and geographical barriers to wealth creation and distribution. I'm not a fan of the UN by any stretch of the imagination, but I can see how blockchain and cryptocurrencies can be useful to meet their Agenda 2030 goals.
Thank you for posting this information. You've dropped names of exchanges I didn't know about yet and given us other coins to check out. Many thanks!
Hey there @poimenpost. Thanks for adding all those valid points to the discussion here. So glad you were able to grab a couple tid bits from the info I'm passing along. :)