Last days Crypto market is dropping really hard and guys who do technical analyses (I'm not a fan of TA) say that if BTC support line of 8400$ is broken, we will revisit 6000$. Altcoins are dropping even more and if BTC really revisit 6000$ than we will see some incredibly cheap altcoins. Like every market, Crypto market has Ups and Downs and all this what is happening is normal.
What is not normal for me in this situation is human nature and how we behave when market is dropping.
When market is Up and prices of all coins are high, people regret why they didn't bought when prices were low. Now when we have low prices, almost everybody are afraid to buy.
For me, it is very hard to find real reason why people are selling their coins when market start dropping.
Only thing that is understandable is margin call but in my opinion you should never buy with borrowed money.
For example, EOS is at 5$ and STEEM is around 2$. It is really hard to find reason to sell this coins at this prices. STEEM already have important use case and Steemit is growing its users every month.
WHY would somebody SELL STEEM at 2$?
EOS is my favorite token and I believe that it will have huge usage. I don't wanna talk now about it's use case.There are lot of articles and videos about it, if somebody doesn't know what EOS will be used for.
My point again is, if you have invested in EOS than you probably know what will EOS be used for and how huge potential is in it.
If that is the case then again WHY would somebody SELL EOS at 5$?
Sometimes is really hard for me to understand human nature and behavior in market drops. On the other side, that is good for me and I will use this prices to buy more EOS and STEEM.
There is few more quality coins out there ( in my opinion 90% are shitcoins without any current or future use case) at good prices and if you believe in its potential, maybe this prices are good for you like current EOS and STEEM prices are good for me.
I would like to here your opinions about current crypto market situation.
This is not investment advice, if you wont to invest you should do your own research.
I have only one advice during such messy days:
HODL
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it is HODL
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HAHAHAHA this is the greatest video ever made! HODL!!!
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agree ahaha HODL to the MOOON!! HAHAHA
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@doomsdaychassis - excellent vid! HODL the line... the Spartans will be the backstop for BTC. IMO volatility in the Cryptomarkets is increasing- just like volatility in the stock and bond markets in the US and world exchanges. It's really a supply and demand thing, although when some big traders sell it can move the market & that's what we are seeing I think.
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LOL
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LMAO...nice one!
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Hodl!!! Fino alla fine
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Oh, man, I had a laugh : ))
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That was awesome!
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we are all in this together so we gotta HODL and resist the urge to panic sell.
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video of the month
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you spelled it wrong....it's spelled "HOLD"!!!
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https://steemit.com/hodl/@thewolfofcrypto/what-does-hodl-mean-where-did-it-originate
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If you read as English then it’s wrong but some how it’s gets popular and people in crypto world always use term ‘hodl’ instead ‘hold’ that meant to be hold.
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You are correct, and the full form of that word "HODL" is "Hold On Dear Life"!
Which essentially means buy and hold for longer period.
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HODL isn't an abbreviation, it was a typo (for HOLD) that stuck as a meme in the early days (like "magic internet money").
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Could have sworn it was HODL
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No, he has it right. Hold is a very basic statement. Hold on For Dear Life is something very different.
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In the crypto world it is spelled HODL !! It looks wrong but to crypto enthusiasts , its spelled right ! lol! 😊👍
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In traditional asset ecosystem: you HOLD,
but this is next generation of assets, money, currency and next generation of Democracy as a whole. that's why you: HODL there!
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Thanks, very good post !!!!
Awesome Work!
Keep it up!!!
@cryptoinvestinfo
What is your favorite Hardware Wallet?
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Only the LEDGER NANO-S. Don't even think of TREZOR
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yeah keep up good work
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Yer hodl and buy buy buy... do not sell..
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lol its hodl meaning 'hold on for dear life' lol. but in answer to the post of why would people sell at a low price if people need the money now then they will sell some people dont have the luxury of holding invested money there are bills to pay lol! please upvote for visibility please thanks =]
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Nice
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It funny how people are eager to sell their entire life when btc is on a bull run because of FOMO but behave like a baby when the market is tanking out of FUD. In my own perspective people like these got into crypto selling their mortage or through bank loan. As any reasonable person would advice, "always use your personal money you can afford to lose into crypto investment", but believe it or not.
CRYPTO IS HERE TO STAY
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Thanks for the great write up. You are totally correct about people's thinking they should have bought when it was lower and now they are scared to actually buy the dip. It's all because of the FUD. FUD caused the dip but keeps many from buying the dip even if they had planned or hoped to. The governmental FUD has caused many to sell and kept many from buying.
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Thanks for the great write up. You are totally correct about people's thinking they should have bought when it was lower and now they are scared to actually buy the dip. It's all because of the FUD. FUD caused the dip but keeps many from buying the dip even if they had planned or hoped to. The governmental FUD has caused many to sell and kept many from buying.
)
and then have its course be decided by a slow and old giant?
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Would be nice if we could buy directly STEEM...
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The most important thing here is to have aproper mindset. People who see crypto as a magic opportunity to become rich are in panic now. People who see it as a complex business that require a lot of work and expirience understand that losses are a vital part of it. Now is a good time to read more, get yourself educated on technology, marked conditions and etc.
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Yes, I agree. I'm hearing calm voices and some are in panic mode.
A couple of saying that help me in the past.. "This too shall pass" and remember the famous words of Joe Dirt, "Keep On, Keepin' On". That's exactly what we should do. Better days ahead.
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Every time I buy I'm prepared to hold. I'd like to sell some to make more to buy more, but I'm not there yet so I'm following the when people are scared, they run and this is where I get bargains. Also learning about all the back stories and social media that comes with this.
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people sell steem at $2 because poloniex won't let them withdraw it, so the price there is in freefall and other exchanges follow
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Never hold your tokens on the exchanges if they are not DEX.
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Most of the people invested into alts during the highs are people margin trading their bitcoin and buying into alts. When bitcoin starts to drop, everyone must sell their alt coins to put back into bitcoin so that they don't get margin called. At the same time people are taking their money out of Bitcoin and into fiat or fiat-pegged assets. Alt coins almost always drop to a certain point because all that are left are the long term investors. This is why I think BTC and alts rise and fall simultaneously.
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Or maybe because Trump and Kim Jong will be having a meeting and everyone is taking their money out of cryptos and into ammunition stocks? lol
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That is why I have said that never buy with borrowed money and then there is no margin call...
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use your spare money is the word but many dont heed to it that is why there is always panick sell when bitcoin drops. but am so holding
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I agree partially however Alts are only cheap if you think prices will recover to Dec 17 levels. If they continue to fall this price could prove expensive.
I also like EOS and wo t be selling. I may revisit my total holdings of other coins though.
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Good article
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Thanks :-)
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People are just scared now with regulation coming into play but that will take us to the next level
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I am new to cryptocurrency, but I admit it makes me nervous. Every time I think I bought at the lowest price , it has been going even lower. I am glad to see that you have a positive outlook. I have not thought about EOS, but will look into it......Thanks for you post
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Read this tell me what you think
https://steemit.com/bitcoin/@richatvns/reality-for-cryptocurrency-market-volatility-why-it-will-continue-this-year-simple-and-clear-reasons
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I'm new, and sometimes I feel a little nervous but I take that time to take another look at what I'm holding make sure I'm where I want to be. I hold EOS, Steem, Ether and Bitcoin. A few other Alts. Definitely had FOMO at the beginning and lost money with stupid coins. BUT I have to have skin in the game to learn!
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Thanks 😁
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Well done! :)
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I warned about this almost 2 weeks ago and it was ignored by everyone.
"Is Crypto another Dot com bubble waiting to pop" is the title you can't vote on it as it is 15 days old as of today but you can still read it.
I likend the crypto bubble to the Dot com bubble of the 1990's the truth is as you stated morre and more ALT/SHIT coins are being made daily and people that have no idea of how crypto works, and what it is used for.
People are seeing big gains in BTC and thinking everything will keep going up well the truth of the matter is BTC and a few ofthers like ESO have a value because they are used and 99% of ALT coins have little to no value because they are either not needed as the gap is already covered or simply because they are scam coins to take advantage of peoples lack of knowlage and greed.
Feel free to keep selling your BTC STEEM ESO ETH and so on for 2 reasons
I can then pick up some cheap coins and hold onto them for a few years and make a killing (yes years I brought my house 25 years ago for 35k now it's worth 175k.) hold if not for you then for your kids and grand kids
SHIT Coins will seem less and less of an investment to people and they will start to vanish (also great for real crypto that has a use) with less ALT/SHIT coins real investers can invest without some Fly by night ICO making Y.A.C (Yet Another Crypto) thats only there to spur peoples greed and leach as much out of them as possible before the bubble pops.
What is ESO
Couldn't have said it better myself
media source https://www.quora.com/What-is-EOS-cryptocurrency
For peope that have been hit by the 100's of shit coin and made the mistake of buying them I say sell them while they have any value and move it into ETH BTC ESO STEEM.
I know most of you think well whats the point i can't aford 1 bit coin.
0.00011 right now is $1 and the price of BTC will not may will reach over $100k or more may take 1 years may even take 2 but that $1 or 0.00011 BTC will be worth over $10 and if the people in the know are right who think BTC could climb to over $1m then your 0.00011 is worth $100 all for thats from just $1 and a bit of waiting while your Y.A.C is worth less then the electros it's made from.
Damn i would have just posted my own but o well lol.
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I follow the simple rule " Buy the fear and sell the greed" , Indeed I'm not a fan of TA and mostly make my trades depending upon the updates . Really market started moving down , may be we could see another blood bath , but the glad thing is that I could sell my Alts getting some profits in recent times . Whatever may be the game always crypto is the love , no panicking :)
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That's a great philosophy, I like my TA just to find good buy ins and sells. but things just seem to work nicely when you see the market is up and you are in profit, look to sell, when the market is down, you are gonna want that cash spare to buy in. I follow a similar rule, If i am liking what I see, sell at resistance, if i see a bargain, buy at support.
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There can't be much more to be had can there? I'm hoping it will settle down today and continue the same on the weekend like it usually does but what do I know?
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So many people are in crypto for quick gains, without understanding the crypto. So weak hands. That's the reason.
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Some ppl that got in very early may be taking some profits. Should run out of sellers eventually.
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i dont think most of the Cryptos will reach the value they had in dec2017 again.....people have started losing interest again well most of people right now who are holding CryptoCurrencies right now are new people who have seen alot of growth in market and bought and after seeing whats happening right now this people are getting desperate for selling their Cryptos.
I really do not think the Crypto Market can be stable for at least next 4-5 months sad thing but i think thats exactly whats going to happen.
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I am sure that only high quality cryptos will revisit previous highs and that is exactly what we need. To separate good and bad projects...
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RESTEEMED | UPVOTED | FOLLOWED | THANK YOU
This is nothing new. We have been here before, numerous times. Just have patience because this is just fud and healthy consolidation. If you do not know what to do the best thing to do is "Do Nothing." just hold, put you phone away and enjoy the weekend. If you have the funds to add the this market the you should be all up in this mother...
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My advice is to follow the surname of one of England's most cultured midfielders:
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Im old enough to have been working through 5 big corrections / crashes in the stock markets....The situation there was that there were older investors who understood what was going on...For me I kinda know what to look for and do...And I'm salivating to take advantage of it all....
Arbitrage, flights to quality, purchase of artificially undervalued coins, leveraging and riding the bounce backs, reverse correlations, and simple risk analysis... All things to do...
But the wild west of the Cryptocurrency has many many low income young investors in it who obly made money because a bubble boon. And they are going to lose their shirts this year. Because its going to be very volatile
Here's my thoughts chime in and let me know what you think of it please:
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price of steem which is now really broke people heart
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Congratulations cicbar. Hope you will reach soon.
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I see this year as being bad for crypto.
I see all these posts.. bitcoin will hit 50k this year, blah blah blah.
Now we are in the third month of this year.. and prices have still fallen.
Last year we has a huge amount of new money coming into the crypto markets, from large investors - The Saudis for example.
For the price to continue to rise, we will need to see more investments.
Another problem i see is all these new altcoins.
While i do like altcoins.. i can see these new coins diluting the market. There is only so much money available to be invested.. so the more coins available the less amount of investment each coin will receive.
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I agree, more money needs to come in. Volume seems low and it has been.
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Thanks for the great write up. You are totally correct about people's thinking they should have bought when it was lower and now they are scared to actually buy the dip. It's all because of the FUD. FUD caused the dip but keeps many from buying the dip even if they had planned or hoped to. The governmental FUD has caused many to sell and kept many from buying.
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If I also think the same as you, I'll follow you
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People sell for various reasons. Currently my belief is there are three types of people selling. The biggest being the MtGox Bitcoin holders which want to liquidate no matter what. Next you have people who have too much of their money in crypto and due to upcoming bills need to get out soon. These people panic sell sometimes for valid reasons for instance maybe at sub $9k bitcoin prices they couldn’t pay taxes on last years profit. Finally you have the weak hands who see the first two people selling and lose their faith.
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a forth type of people selling at dips: Those forseeing the dip to go further, and making their plan of selling now and buying latter at a more cheap price, a way of collecting some profit this way.
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True, traders will always exist :)
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The best (and for me only) technical analyse methode is creating trend lines as much as possible on the graphic chart.
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This dip has been a tough one :( OH well, it will go back up!!
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Добар текст @cicbar, било би лепо да га пошаљеш и на српском за онај део популације који не говори енглески.
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Hvala :-) Nisam siguran koliko ljudi koji ne govori engleski koristi Steemit. Naravno da bih sve svoje tekstove pisao i na srpskom kad bi to imalo smisla ali ne znam koliko ljudi bi to čitalo i pod kojim tagom to da postavim. Ako imaš predlog, vrlo rado ću te poslušati...
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Има их, не брини. Тренутно само на мојој листи има преко 150 људи:
https://steemit.com/bitcoin/@lighteye/bitkoin-rudarenje-shirom-sveta
а на следећој листи биће још десетак нових имена међу којима ће бити и твоје :)
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I just bought some steem today. In a few months people will regret not buying
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Agree. Did same...
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Me too. Seemed crazy not too. I bought Ether cheap and turned it into steem. How would you two do it?
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I bought litecoin at the atm with cash and turned it into steem and a little sbd too
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Should I buy a little SBD with steem? You have a LITECOIN ATM?? Where do you live? I want one.
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Yeah Calgary Canada litecoin and bitcoin its like 3 minute walk
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OMG! My virtual assistant lives in Calgary and got me into this in the first place! I have to tell her she won't believe it. She's Indian, her husband is Canadian so they were living in Nepal where they have property but moved permanently back to Calgary, this will make her very happy. :)
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I am not a fan of technical analyse either but must admit that TA has prevented my losses for a couple of times... TA works very good especially when the market is not so volatile.
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You raise some interesting questions here.
I agree why people would sell steem at $2?
It could be that so many people who have bought into crypto just don't know the first thing about investing.
Before anyone sells their crypto they should ask themselves:
why is someone willing to buy my crypto at this moment in time and what do you think they aim to gain from buying my crypto?
Another reason for the bear market in crypto since the new year can be linked to some degree to the dumping of over $400 million worth of bitcoins on to the market by the bankruptcy trustee for Mt.Gox between December 2017 and February 2018.
The trustee has a further 165,000 bitcoins worth over a billion and BCH worth over $150 million to dispose of.
Not surprisingly, many crypto investors are accusing the trustee of just dumping the coins on to the market instead of looking at other ways raise money from them such as an auction.
I am concerned, like many people who had bitcoins stolen from their Mt.Gox accounts, that we will not be fully reimbursed for our losses.
The bankruptcy proceedings have dragged on over 4 years with no sign of the much promised compensation.
You can read the trustee's recent report to the court in Tokyo here:
https://www.mtgox.com/img/pdf/20180307_report.pdf
Press reports on this are below:
https://www.trustnodes.com/2018/03/07/mt-gox-trustee-sold-half-billion-dollars-worth-bitcoin-bitcoin-cash
https://www.coindesk.com/mt-gox-trustee-sells-400-million-bitcoin-bitcoin-cash/
http://uk.businessinsider.com/bitcoin-price-traders-angry-over-mt-gox-trustees-bitcoin-sales-2018-3
https://www.bloomberg.com/news/articles/2018-03-08/bitcoin-s-latest-rub-is-overhang-ghost-from-mt-gox-bankruptcy
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If trustee keep selling then we will have cheap coins for longer period but long term it is just small bump...
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thanks for sharing my friend...
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I am proud to be able to read every post your best 😊
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thats the mistake all the newbies do, thats where we make our profits from. if i make a 50 dollars profit that means that 50 newbies lost a dollar each.
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good point
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EOS will explode to the upside once their mainnet launches and ico's start launching. In this myopic market, people are too scared to take advantage of the opportunity
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People do not panic this is just a correction the market will not sink all the time and no the bubble is not bursting
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A great post and an eye opener.
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I think the quality coin will be deserved the amount of its worth. I also agree with your opinion regarding EOS. Because BTC is dropping now, the Altcoins follow the BTC's, but at the end, I expect that they will be de-coupling. If I have more money, then now I will invest! BUT I AM NOT and THIS IS ONLY MY OPINION. DO NOT FOLLOW, but FOLLOW YOURS.
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Find your own voice, unleash the power within!
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Human nature is is indeed a strange thing but I can imagine if you did buy steem way below the current prices you are tempting to take some profit while you stil can!
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Agreed.
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I cant even sell right now even if i want to cos my alt coins are really low. however i don't even want to sell. Rather positioning to buy more coins.. what i do in other to save myself from the heart drop is not to open my portfolio at all rather i keep checking coinmarketcap to know how low..lolzz
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If you believe in use case of token that you have invested then you have no problem at all...
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I AGREE WITH YOU ,.,.,.,
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HOLD! HOLD! HOLD! HOLD! HOLD! and BUY! BUY! BUY! BUY! BUY! BUY! BUY!
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Just another day in the Crypto World I guess!
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It's going to go back up so hodl
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Well said. Thanks for sharing the thoughts.
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Thanks a informasion
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The market is a living breathing beast, there are millions of players now, all with their own game plan, some are veteran traders, some are FOMOers who bought in Decemeber 2017. Everyone has a different reason for buying or selling. A lot of people have limits on when they will sell, so they wont sell at 9k or 8k but when it gets to 7k they sell. Some people will never sell until their portfolio reaches a point where they can retire. People digest the news and FUD differently, so they act according the their perspectives. It's a crazy game.
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makes you wonder
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Keep spirit to bitcoin ...
Thank for sharing my freinds..
Good information
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I wish I had money to buy in because it really is low and getting lower, but all I can do is hold and hope it goes back up big time soonish...
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One must first decide if he wants to invest or he wants to trade. If you are trading then of course you will lose some times and win sometimes. but if you are invested only time will tell. So it is best not to start selling at every price fluctuation.
My feeling is that most everyone getting into Bitcoin and other cryptos should understand that the huge profits the early investors got will never be possible to replicate within the next 5 years even with the "infant" cryptos. This is only my opinion.
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My thoughts are that a lot of people that don't understand the fundamentals of the underlying technolgy and those are the people that got burnt.
The people that invested over December are thinking to themselves that they want to put their tail between their legs and high tail it out of here...
The people that do understand the technology and how it benefits us are investing on the dips...
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Agree. Some people follow technical analysis without thinking about tech behind coin and in crypto TA is still far away from correct... there is no TA if Mt.Gox start selling...
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Definitely a combo of both this, and FUD or news. I think it's thinking about all things together. People have NO patience. It's been 3 months? Barely. I have a mutual fund from 2000. It's made 25% in 18 years.
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Yeah exactly if he wanted to drop the other $1.9 Billion it could be some damage, but I don't think he will do that.
News Articles like this on CNN don't help the FUD:
https://www.ccn.com/people-selling-mtgox-bitcoins-discounted-rates/
In the long run, it is all about the technology and how it will improve our daily lives...
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I called it a month ago ;)
https://steemit.com/steem/@multi4g/sbd-update-2-50usd-crash
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Because they feel like this
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Haha true
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For all the XVG (Verge) hodlers and lovers! We are in the buy zone to a expected 400% profit, very soon. Read my T.A, feedbacks are appreciated! XVG TO THE MOON!
https://steemit.com/cryptocurrency/@lucasfonseca/xvg-btc-ta-verge-is-forming-an-aggressive-9-perfect-time-to-buy-expect-400-profit
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I think that there might be a issue with the system when you have good posts that make .001 and mirror posts that make 400. The time invested to get to a higher profit for a new comer is way to slow. Only way I can see to have value is if you can get someone to give you 10000 power. Meanwhile the day one miners are powering down for profit..
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Warren Buffet once said "Be greedy when others are fearful and be fearful when others are greedy" or in other words "Buy crypto at the dips and sell crypto at the aths"
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dunno how long i can HODL if continue dropping :(
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Give it a month before you do if you can.
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I am sure the Currency is gonna rise soon
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I fully believe that btc and the block-chain will be an integral part of every forward thinking society in the years to come. This is about more than $$$, its about a consciousness shift into a new paradigm . Time is our friend,,,, HODL !
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yep agree here too. There will be a day where our "real" currencies will be in trouble.
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Think, that bitkoin — pervaya kriptovalyuta, sposobnaya izmenit' world.Your post-modernism pleased me :)
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This is how it feels when you buy the dip but it just keeps dipping
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lmao, yes that's irritating as HELL. Only once since I've been doing this have a bought at the right time and it's gone up and within a week, I'd made some good profits. Every other time, buy, SINK. But usually within a few days, it will get better. Hodling is my only option there.
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Lol i have a meme for that too:
In all seriousness though good luck and lets hope it doesnt dip too low. Its sad seeing my steemit account value keep dropping
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For me I know what to do...And I'm salivating...Don't just hold read this!
https://steemit.com/bitcoin/@richatvns/reality-for-cryptocurrency-market-volatility-why-it-will-continue-this-year-simple-and-clear-reasons
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I studied the market, usually drops towards the end of the month, maybe it's still happening and it grows towards the middle of the month, I hope am correct about this opinion.
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nice
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a good post ,You only need a few hours to get it, It's different with me so it takes a very long time once a year to get it and even not necessarily I get.
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I suggest you look to NEM(XEM).This coin has good potential.
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Thanks. Never had XEM before. Will research about it.
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Great post. It's because people are paying thier taxes and need to cash out. Or they are cashing in on recent gains so they don't have to pay taxes on those until next year. But what do I know I'm just a cat 😸 So you think 90 percent of coins are shitcoins? What made you come up with that number? I sniff out 33 percent as shitcoins, 33 percent as poor teams going nowhere and the rest as having a chance but most will fail due to bad luck or competition. Yes probably less than 10 percent will succeed but not because all the others are shitcoins.
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Hey @cicbar, great post! I enjoyed your content. Keep up the good work! It's always nice to see good content here on Steemit! :)
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Perfect time for new investors who want to get their feet wet in the crypto market
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Close your eyes and hold EOS and STEEM. They both have good potential in future and most important is EOS airdrops which are going to happened in next 2-3 months. So it’s up to you to get it now or regret later.
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I still need to figure out how to do this.
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Paper money is now going to be pathetic
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Hello @cicbar: the truth I'm just beginning to get involved in this of the crypto market; But, I think you're absolutely right considering the ups and downs of this type of market ... The only justification I see to sell right now, is that you really need the money for a particular need ... Steemit seems to me a solid platform (a decentralized support) that makes it resistant to the swings of the market, so I really believe in steem recovery in a short or medium term.
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Here we go again, we are falling apart. A little perspective here. Bitcoin is up almost 700% over this time last year, Ethereum is up almost 4,000% and Litecoin up almost 5,000% over this day one year ago. Get it together folks, we are just getting started. And Steem? If it nears $1.00 that is your all in signal on Bitcoin, ala Omar at CryptO.....it works.
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The issue here is that the majority of people are buying (gambling) and not investing, they put in a little bit of money like they would on the horses, its just that they have the opportunity to opt out. These tyepes of people are good for investors because they provide the volatility we need to get cheap assets.
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I think that one of the best ways for bitcoin to solidify its gains is by clearly competing with established currencies for transactions of general interest goods and services.
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i always hodl. but i never gain profit because i though i buy the cheapest price in the market but still its going down,. should i quit or i just stay for this crypto world
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I think this is due to the recent mtgox sell of as the technical analysis is still pointing to a price breakout this month with the fundamentals still staying the same.
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Well said. Thanks for sharing the thoughts.
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As a Investor, this is my main strategy in order for me to not be much affected in the times like this, we must accept the fact that everything is not perfect, accept the reality that we lived in a cruel world of business, everything is unfair, some take advantage and some do not, to prevent all of this we must be aware and well informed in order for us to make strategy incase something bearish will happen around the market.
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I do watch TA and I also watch "gossip" incredible how these both line up to whatever is going on. We were setting up nicely but Binance, Mt. Gox and whatever else. I personally think Wall Street is watching and salivating. Someone else could dump and bring it lower and they HAVE to have a buy in point but what is it. How will they manipulate?
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To me it looks like 6.5k is as low as it can go without breaking the long term trend created by the drop to 6k. There will be huge support if it goes this low. If it breaks lower than that then there is some serious selling going on... cough Mt Gox cough.
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Isn't he done??? Yes now that you say that, I got really lucky in Las Vegas, (HA) bought at a nice low, BTC LTC and EtH. At the time I was hearing a lot about support at 6K to 6500. Who do you listen to? Ive been watching some Tone Vays. I like his background stuff as opposed to TA. What is TA going to tell you if it doesn't know GOX dumped coins galore? It's good in conjunction with other factors.
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Yeah absolutely, TA is not gospel, especially when there are fundamentals at play, but so many traders use it and many of the indicators and trends lines etc. I am certain there will be a big buy in at 6.5k but that doesn't mean it will hold that level, just a lot of people will buy in at that point because it touches the long term trend line, if it gets there.
I don't really watch anyone in particular for TA, I prefer to follow my own as then I get a better sense of what works and what doesn't and how it reacts to certain fundamentals.
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"What is not normal for me in this situation is human nature and how we behave when market is dropping."
This. Also amazing how human behavior can move this market so quickly. I also like EOS a lot. I also bought steem for the first time under $3. It's a sale!
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bit coin follow upvote resteemit.bit coin is allows better and golden coin
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You make an interesting observation. Perhaps people tend more easily toward pessimism. for instance, I've never had to remind someone the glass is half empty. I can't say I'd not have regrets if I'd bought BTC at 11,000 but I can say for sure I'd not be selling it during a dip. I'm one of the lucky ones who will buy pretty soon for the first time. A dip like this is the right time for me I think.
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your post is very good
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get started on how to trade cryptocurrency
http://2f4ff157u5nwdm9pq2hb451gwa.hop.clickbank.net/
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I agree, @cicbar. If we just keep our heads above the emotional panic waters by stepping back and remembering the fundamentals of the entire cryptosphere and especially those we believe in the most, it's a great buying opportunity right now to get in at decent prices. For anyone who remembers the feeling of wishing they had put more into it when Bitcoin spiked up past the 10k level for the first time and on to 20k in a matter of a month or so, where the price is at now is like turning back the clock to mid November just before that mega spike all over again. So even if it drops a bit more from here or not, in 6 months or a year from it will most likely be way up higher than now.
I'm don't particularly like TA (Technical Analysis) either for cryptocurrencies. It's often wrong and there's so much disagreement reading the charts. In the crypto world I find the more basics seem to have more weight. For example, looking at the bitcoin yearly chart, if you plot a support line from around March/April timeframe of last you to present, we are hitting up against what I view as a major rising support line. Here's a chart:
All the best
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I also noticed that when it really crashed down (with all the markets) in early Feb., it began when several negative comments were made at Davos where the elite were meeting. Note many of those same people are meeting this weekend (Fri.-Tue.) in Argentina for the G20 meeting, where some want to find a global consensus of regulating the cryptosphere. So I believe all whale eyes are on that meeting about to get underway and what will come out of it. In my view (not as any financial advice) that given so many central banks and nations are now looking into developing their own centralized cryptocurrencies, I believe the odds are still in our favor of seeing another growth wave for the rest of 2018 much like the one we saw last year.
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I consider your writing very interesting. I think it is understandable that people are afraid to buy, even though as you say the value of the currency is low. they will think that it will keep going down and if they buy now they are afraid that they will be stuck for a long time and will not go up and buy to lose, hence their fear. If I'm wrong, you let me know .. Thank you. You have my support.
I hope to continue counting on your help.
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I'm standing on the sidelines with EOS. It reminds me that the developer @dan is the owner of BTS. I want to see how the one will interact/impact the other. Right now EOS is ~6. and BTS ~fifteen cents. When I first entered crypto a few months ago, BTS was hyped to go to the moon. I bought in @ ~.44 before I learned to read the skew in numbers. Since then, I can say the numbers don't lie, and wonder what's going on behind the scenes...what caused the stall/descent? Because, @dan is esteemed in the community I'm optimistic that this is all part of an intertwining of sorts. I think it might be a good idea to buy in on a small scale to be part of any airdrops that may fall soon.
Best regards.
Peace.
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Im not worried about the price the real money is in arbitrage trading and automation along with staking and trading the earnings for calculated ROI ico leads
http://satoshipapi.io
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Obviously, everything hinges on the price point you got in at, but you can look at why people sell when the market is going down in a few ways. I won't get into them all, but there's nothing wrong or dumb about dipping out of a position if one of your 'indicators' are telling you to do so. I personally have my own indicators. If you see the writing on the wall and know about trends, you can pull out, take your profits and get back in later at a cheaper price if you believe in the token.
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One word FUD.
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Human nature is the most complex that exists. Therefore, predicting this variable is always a high percentage of divination. A model can be estimated, but it will always be the probability that a certain behavior will occur, there is a spectrum or a range of occurrence.
How to know what floor the steem will have?
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