For those of us that have been in crypto for a while we noticed a trend this year when bitcoin took a massive nose dive down to the $6,000 level. But we realized that just 6 months before that bitcoin was valued at $900 massive gains!
We literally went through nearly two months where nothing but bad news and every government was so called going to close down bitcoin and it was illegal.
Remember headlines such as...
China clamping down on bitcoin miners
South Korea bans bitcoin
Massive fee transactions on bitcoins platform
To this week...
South Korea wont ban cryptocurency trading after all
All time low fees and working on building a faster bitcoin blockchain and even lower fees
Bitcoin trades up 30% from last week
The thing is there is so much support and backing for bitcoin now its started a firestorm where people now stand up for their rights and tell their government what they want instead of their government and a select few people trying to tell them what they must obey!
I freakin love this! and it shows how clearly people are starting to gain power over their governments again. Those who have clearly just had enough and bitcoin along with other cryptocurrencies are paying the way for this to happen.
I learned my lesson years ago when bitcoin would take yearly nose dives. When everyone else panics and it seems like the end it makes a perfect buy in time ;)
The best thing I did was walk away from the charts in January. I'm reminded of someone telling me that no one ever says on their deathbed, "Man, I wished I'd paid more attention to the daily news." Either you believe in the long term viability, or you don't. From there, if you scale your bets appropriately and don't have too much money on the line -- you'll sleep fine at night and be able to ignore the noise.
Hodling supports these systems.
Being early adopters supports these systems.
Educating ourselves supports these systems.
Educating others supports these systems.
Worrying about the charts does nothing.
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If you truly believe in the long term viability, you put more on the line. Buy the dips.
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Blockchain technology represents the emergent complexity of advanced free-market economies. It is evolution, and it is unstoppable. It is the gold rush of our time, and the question is...
...do you dig for gold, or do you sell the shovels?
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Really this is the good news who has invested money in bitcoin. This is also good news for all steemians. I have also inspired getting this information that some country is giving importance to bitcoin. I hope Gradually it will be spread out to all over the world. Thank you very much for sharing this post with us.
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Plus, there's upcoming news of (rogue) nations issuing their own cryptocurrencies, making Bitcoin and all the alt-coins even more legitimate. The one I'm watching now is the Venezuelan Petro, pegged to the price of Venezuelan crude oil. As they say, the genie is out of the bottle now, and the regulators can't force it back in...
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yes i am totally agree with you.
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Thank you for the encouragement and sharing your views. I have posted my rules:
https://steemit.com/trading-rules/@freedomshift/7-rules-for-trading-investing-hodl-virtual-assets-aka-crypto-currencies
If you follow it, then, each of these corrections would have been a buying opportunity - Rule #3 and Rule #4.
Rule #5 will also assure you that no one can time the market and to ignore the news and so-called experts.
All the best!
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Bitcoin is due for a bull run after all this FUD. The Crypto community is here to stay!
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Wow, good to hear that bitcoin and other cryptocurrencies are here to stay. I am new to these, hope go learn more and tap into the opportunities it presents. Thanks for the info
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Thanks for this cryptocurrency news providing..... i appreciate this bitcoin. keep it up resteemit
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Besides, markets go up and down. Doing nothing but going strait up is a sure sign of a bubble that will pop at some point.
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