Home of the brave

Yes, a few days of 'panic'. Not really for me but for all the newbies out there, just jumping in into the cryptomarket. Yes, it was a tough one, it went deep and seeing a market cap go from 830 to 428 billion USD in just a few days got my attention as well. Crazy how fragile an ‘industry’ like this is. But fragile is the wrong word here since it means POWER.

You and me
Ok, maybe you and I are not whales, buying up and trading like whales, but don’t forget, this market is influenced by us. Our behaviour, the choices we make every day to buy or sell, has impact on the market. Ok if you have 1000 USD/EUR in it’s just a drop in the huge ocean. However, this 1000 makes part of the market as well and is a small brick which is part of the wall which holds it up. However, with this great peak in the beginning of the year and sea of red yesterday, is mostly caused by panic seller settling for loses. ‘Oh my god, I’m going to lose all my money, I need to get out!!!’ instead of holding on to it and waiting it out.

Your part
If you start knowing and discovering your position in the market there is just one thing to do, HODL. Hold on to your assets and trust your instinct that things go better. We tend to absorb the messages, which we are getting fed online, and hold our dear life to it. It’s almost like a social experiment if one starts crying, well no problem. If it is picked up by others and the snowball effect happens, everyone panics. And there is no better example of this than yesterday. Sell, sell, sell instead of holding your breath. You knew it was going to be a bumpy ride, now the first bump is here and you jump out. Would you do that on a rollercoaster as well? As soon as the first loop comes your way, you get out. No, you sit it through and look at the past to see what the future will bring.

Charts and history lessons
I’ve learned from the people who have been in the front seats of this rollercoaster and to be honest, follow their lead, not blindly because I want to know what their predictions are based on. If you are want to learn something new, you want to get some expert advice right? And it’s advice, what you do with that, that’s up to you. Having said that, I was glad this chart popped up early:

So it was ‘completely normal’ and the panic was, well let’s call it a learning curve for many.

What did I do?
I went shopping! I bought in on things I missed out on previously and took some of my profits from my other currencies and invested them in UTRUST, INT, QSP and bought more VEN. Rock solid stuff and the best opportunity to get in. This was the ideal time peeps! Even if you were new to the cryptomarket, if you jumped in yesterday, you would already have made a profit of 20–30%, depending on what you chose of course. So your 1000 could have been 1300 this morning and still rising, since the market is stabilizing after yesterdays mega dip.

In deep shit
Some out there ate shit though…not because of the dip, but because of following blindly. You’ve probably read that BitConnect went down, down hard! And with it, it took a lot of investors with them. It went from 215 to 21 USD after the announcement that they were shutting down operations. Going down 90% is like the freaking Titanic and was I glad that I wasn’t on that boat…Judging by the talks, shouts out, tweets, Telegrams and other media out there, A LOT of people had A LOT of money invested in BitConnect. The reason for this is that they followed people like Trevon James on Youtube. Telling people that they will make a lot of money overnight by this and that. BitConnect will be ‘this’ in the future and BitConnect will be ‘that’ today! Based on nothing but eager people wanting to earn a fast buck. And people they believed it because he was telling them what they wanted to hear — “You are going to be rich if you this and that!”. He’s no authority, he can’t see what will happen in the future. Hell in an hour we can (most likely not) the market can drop back to the loses we had yesterday. But in Trevon James’s scheme, he not only earned money on the people signing up for him but he was preaching something which had no foundation. And I’m not talking about BitConnect itself, the project could have been great, but it was based on making money on talk, not the medium. So I have to give the guy credit, he definitely made some buck I’m sure, however, in the end, he took a lot of people down with him…
Messages like ‘I invested 200k and lost everything in the downfall of BitConnect’ and ‘I trusted Trevon’s words’ etc. gives you a good idea of what’s going in the cryptomarket. Yes, people are making money of others, and companies are as well. If you want to be part of it, you have to surf, surf between the lines, jump from wave to wave which you can handle. If the wave gets big or there is now swell at all, it’s up to you to stay there or not and not someone else telling you "you will be rich by tomorrow".

HODL and be brave
My advice is to use your power and your investment to your own needs and is comfortable with, but if you want to see it grow over time, you HODL. HODL like anything, learn more about the market, how it behaves, how people behave and what you should filter out during red-days like yesterday. As I said in my previous posts, I am on top of things every hour. I think it’s fun keeping track, being strategic and the thrill makes it worth it. Of course, I am very weary of the risk, but that’s part of of being in this market. So why not stay on top things to reduce your risk and play a bit safer when you can and take more risks when you see the opportunity. My shopping spree is on cryptos which I can HODL, and I will HODL them until I cash in, not tomorrow, not next week, not next month, maybe a portion at the end of year and let’s see what next year brings. HODL.
2018 is going to be great, more exciting than last year and don’t be surprised that the ride is going to be bumpier than you thought it would be, because it will.

The Cryptovorist

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