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8 years ago by rok-sivante (75)
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Today my Steemit feed was full of stories about the crypto currency crash - it's all over they said...
And a few hours later it's all nearly back to normal.
That crash was about as severe as "global warming"
Pump and dump is good business...
This is what my portfolio looks like after a day of devastation in the context of 30 days:
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Nice graph! hope the markets recover from the market crash
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I think they just did - they jumped up above the trend line for a few days and are now recovering back to where they are ready to be.
This is the future trend I'm hoping for!
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haha. nice update on the graph :D
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Lol :-)
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Well put.
I think one way to think of the long term price increases/valuations is as a series of bubbles one after another. Only the very macro trends will reveal the true value. See my old post below for more thoughts on the current crypto bubble.
https://steemit.com/bitcoin/@kyle.anderson/what-it-is-like-riding-bitcoin-bubbles-an-adventure-through-the-present-cryptocurrency-explosion
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Very nice article. We are living in a new age, so we need new ways of thinking, like...
Are we in a crypto bubble?
In my opinion: yes and no, simultaneously.
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Good information! Thanks.
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Lot's of good points here. But is Ethereum really an alt coin?
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Pump/ dump OR Moon/ Doom such hype cycles are expected, and are common occurrences in every commodity/currency/equity that is traded... important thing is to hold on to your nerve and follow your gut feelings.
Don't get trapped, study the business model where you put your money in, then invest and forget...
Follow law of averages while investing:
Everything that goes up, must come down - Everything that goes down must come up..
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Well-stated.
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This upward move had to correct and we all like to tell the tail.
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Working through the worthless coins to reveal the true coins with investing in I agree with you point of view 100% @rok-sivante
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If you've been involved in this space since 2013 and earlier then you know the cycle and the routine. We always get a bubble right after the Bitcoin block reward halving. It always reaches an obscenely high market cap. Altcoins always flourish during this time with high ICOs and good funding, and this typically lasts 1-2 years before the recession hits.
We have boom and bust cycles but it's not any more of a bubble than the last few cycles were. In fact it is less of a bubble actually, because the rise from $13 to $1000 was a lot bigger than the current. If we look at the total market cap then the rise across currencies is big but not unrealistic.
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Great article. You are definately right. History teaches us that bubble bursts will in the long term be good for the crypto space. My God! There are so many shit coins... we need a purge
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Crypto-lax... lol
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Very good post :)
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Back to life back to reality we must carry on. Great article @rok-sivante I will upvote and follow
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saw an article the other day saying it was a bubble, thanks for addressing
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Long live CRYPTO!!!!
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The best articel
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So interesting to watch this whole bubbly world 😜
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This has been one of the best articles I have read on steemit about the crypto space. Finding a way to create value within the crypto space is what its all about. How can each and everyone of use bring something to the table. Like you said @rok-sivante, "we are in the driver seat here," lets ride this ship to the dam moon!
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;-)
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I very much agree with your post, I also think it is beneficial if people are smart enough. It could be a bubble but I'm sure it wont burst now, but in the future maybe.
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