Why hello there Mr. Bear. I wasn't around for the 2014 bear market, but I was around for the June-July 2017 dump. That was a bit frightening, but it was a great learning experience in the art of HODL.
Let's have a look at some of the reasons why I am confident we'll be looking back at this time as one of the best buying opportunities of 2018.
1.Major business getting into mining & crypto.
- Two days ago it was reported that Samsung is producing ASIC chips for an unnamed Chinese firm and possibly Baikal.
- GMO, Japanese Internet Giant is making it's own ASIC chips, shooting for 7nm.
- CME & Cboe have launched their own futures for bitcoin and CME will not be introducing other crypto futures in the short term.
These very large business are just the latest to get it and get into bitcoin and crypto. These decisions aren't made without confidence in the market for the long term.
2. Developments
- Lightning Network is being built with even one version being implemented on main net.
- While most alt coins are shit coins, there are several with good tech and good devs working on them, Filecoin & SIA, Golem and Augur to name a few.
- KYC & Regulation. Like them or hate them, they legitimize the technology. More and more countries are following Japan's lead and coming up with regulations to make bitcoin & crypto legal.
3. What people are saying
- The Monte Carlo Method, this is a good read!
- Bitcoin to double it's price in 2018.
- Healthy Correction, Growing Pains, Step In The Right Direction
Bitcoin is the most secure crypto out there thanks to the network. There will only ever be 21 million, minus those lost forever on hard drives in the dump, etc. The monied interests will do anything to get your bitcoin, don't let them!
I am currently HODLing for a great correction right now :)
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Is that you in the front seat on that rollercoaster? 🤣 I believe this correction, while it sucks, will lead to bigger gains and greater adoption.
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It seems that has been the process for BTC since about 2012 to shake off mostly the skeptics and non-believers.
It is a great time to buy right now.
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Ohh yea, in this kind of rollercoaster, I am in the front seat :P
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As long as you're not over invested, so less than 10-20% of your total portfolio is in crypto, you should be ok. I only have 2% of my total assets in crypto so I'm not really bothered by the drop.
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True, but a lot of people into crypto only have crypto as an investment. Think of all the steemit users whose only onramp to crypto is steemit. They must be extremely stressed out even though the price of Steem is actually doing quite good over the past year.
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True. They should take it as a lesson to diversify over asset classes as well such as stocks and bonds, but also savings deposits for example. Crypto is an extremely risky asset class, so you shouldn't have a 100% of your portfolio allocated to crypto.
Steemit users shouldn't be too much concerned, since they're basically getting free money from their posts. What's their alternative? Facebook? Reddit? Medium? They all give you nothing in return for your contributions. Sure, posts value might go down since STEEM price has suffered a bit, but it's still a lot more than $0!
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Great write up! Its so crazy the tech firms now are gearing towards mining crypto. @derekrichardson and i came up with a new term for HODL, something upbeat......"Hold On Dont Loose"
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Yes, look for indicators other than price. The fact that these huge businesses are throwing resources at crypto speaks volumes.
lol, when are you guys releasing the tune?
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i didn't figure it to be much of a tune as an upbeat meme that could be made. I honestly thought HODL meant that until Derek told me otherwise. I liked my version as it didn't sound so cataclysmic
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Today was also a jet-coaster market.....
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Yes and we survived! I think by April we will be out of this bear market and back into a bull market.
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Bears don't scare me. Bears are cute and cuddly.
But I guess most people are still afraid of bears. Prices keep dipping because bears are scaring people and they are forgetting to hodl. Perhaps now would be a good day to panic buy help these fools and their money part. But whatever you do, do keep hodling yourself, all.
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Bears are fine until they rip your arms off and shit all over your portfolio. But ya, no need to worry if you just stay calm and hodl. Bears can't hurt ya unless you panic sell.
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I've never had a bear rip my arms off, so I'm not convinced that it could ever happen.
Also, by this logic, I will never die.
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Nice to meet you, my friend.
I will always support you.
I hope you can support me.
Let's focus on each other.
thank you
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Good post hopefully the lighting network saves bitcoin. I own a little Golem
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I honestly don't know how well Golem will do, but they are doing something different and that is key.
Lightning Network will succeed. I am looking to use it for a project in a few months. Downloaded the testnet version, but I haven't set up a main net version yet. 2018 is going to be very exciting.
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You got a 0.79% upvote from @postpromoter courtesy of @rt395!
Want to promote your posts too? Check out the Steem Bot Tracker website for more info. If you would like to support the development of @postpromoter and the bot tracker please vote for @yabapmatt for witness!
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Thank you rt395 for making a transfer to me for an upvote of 2.01% on this post!
Half of your bid goes to @budgets which funds growth projects for Steem like our top 25 posts on Steem!
The other half helps holders of Steem power earn about 60% APR on a delegation to me!
For help, will you please visit https://jerrybanfield.com/contact/ because I check my discord server daily?
To learn more about Steem, will you please use http://steem.guide/ because this URL forwards to my most recently updated complete Steem tutorial?
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When in doubt HODL.
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