Buy when there's blood in the streets

If the old saying's are true " Buy when there's blood on the streets" and  “Be Fearful When Others Are Greedy and Greedy When Others Are Fearful” than shouldn't we be buying right now? Bitcoin dropped from approx $19700 in December to a low of $7700 yesterday. After seeing one after another negative article from the mainstream media and reading all the fud on every forum, I think we can agree that there is blood in the streets! Sure, it might fall a bit further but it has so much more upside potential that the risk of waiting for a further decline to buy seems ridiculous to me. How much more of a drop do investors want to feel good about buying up all these cheap bitcoin?

Here are the top bitcoin news results on google today, the fud is incredible!

Below are some of the recent reason's why bitcoin is falling

• Concerns of bitfinex's Tether manipulation has been brewing for weeks.
• Facebook bans ICO ads to prevent it's users from ponzi schemes.
• India's Finance Minister Arun Jaitley spreads fear across the entire market with harsh comments of cryptocurrency.  “The government does not recognize cryptocurrency as legal tender or  coin and will take all measures to eliminate the use of these  crypto-assets in financing illegitimate activities or as part of the  payment system,” 
• Bitcoins futures market continues to pile on short positions indicating that the crash isn't over.
• Regulations for bitcoin and cryptocurrencies trading/mining in China.
• Over regulation of bitcoin and cryptocurrencies in South Korea.
• And least but not last, the parabolic move from approx $7500 - 20000 was too much for the market to sustain.

Market Cap Correction 

I believe what we are really witnessing here is an entire cryptocurrency Market cap re-balancing, one that should have happened a long time ago but because of the series of events from bitcoin forks (free money) and the futures market, bitcoin was sent way too far in to the overbought region. Although I do believe bitcoin will make a full recover soon and a new ATH will be here sooner than most think, I also recognize that there are many other coins that have much better technology and an even brighter future than bitcoin, at least in terms of an investment opportunity. Steem and EOS to name a couple have much more potential in terms of ROI in the short, mid and long term and that's why I'm buying both right now, it's likely the lowest price we will ever see again for both! 

Although I typically keep most of my crypto investments in the Top 20 coins, I do leave some room for one or two small caps and right now I see some potential in SmartCash.

 Key factors that make SmartCash a great investment  

• SmartHive is a POS community that rewards its holders.
• Renew is a feature which provides blockchain privacy.
• Smart rewards helps to ensure a more stable economy.
• Instantpay gives the community near instant transactions (Ive tested it, and it does transact very fast).
• ASICless mining using the Keccak mining algorithm for more diverse mining and less centralized.
• SmartNodes are required to have 10,000 SMART  and are rewarded 10% on every block.
• SmartHive Voting is a place where holders can vote on projects to be funded.

SmartCash address  SSBxUUmd4Xt4W3pM3KfbsXy9NyxDVH6Mg4 

This is not financial advice, please do your own research before investing ;)

My weekly Friday minnow support picks are:

  @simply.syd 

https://steemit.com/vegan/@simply.syd/my-1-month-vegan-anniverary

 @otterbeme 

https://steemit.com/colourfulphotography/@otterbeme/colourful-photography-entry-colourful-jars

 @thehappycamper 

https://steemit.com/portraitphotography/@thehappycamper/a-walk-through-ken-reid-conservation-area-with-diego

They've been creating great content so lets show them some support! :)

My recent blogs

https://steemit.com/smartcash/@cyberblock/smartcash

https://steemit.com/cryptocurrency/@cyberblock/lisk-explosion-just-added-to-bitflyer

https://steemit.com/steem/@yonny/weiss-steemit-ranking-is-a-big-deal

https://steemit.com/bitcoin/@cyberblock/lightning-network-is-here