Fear and Loathing in Los Cryptos
I've had intelligent people tell me that Bitcoin's run is over, and that the crypto market is facing a long decline - they compared the situation to what happened in 2013, and later. But then, what the market does depends on the people who're watching it, talking about it, panicking along with it like a stampeding herd - and there's lots more than earlier this year, and many more than in 2013... and they decide. On the other hand, most of them believe in illusory concepts like "free will," and therefore they keep making the wrong decisions ;)
If they all talk each other into a "we're so done!" scenario and run, then they'll be done and I suggest you change your funds into fiat now, and be done with it ! But I don't think you're done... I'm certainly not.
They all withdrew their money from Bitcoin, put it into Ripple and now the're astonished at what happened, they marvel at how good Ripple is and how bad Bitcoin has become, fascinatedly staring at the charts, waiting for it to (not) start climbing again because of the lack of volume that they are causing... once enough of us agree BTC has reached its bottom, it will certainly start rising again.
Humans believe in gods and markets, while they are actually the only "force" able to cause destruction, or construction. Decide yourselves, oh ye of the free will ! Am I saying, "think positive" ? Not me - and if I do, then that's only because I'm paranoid enough to see what might be coming if you think negative - so, the fuck think positive !
But seriously : it's going to work, and you know it, just watch what positive thinking achieved this year.
Crypto is good, we all know that - however the value of crypto is the amount of money people actually put INTO it, and keep in it, the market being a house of solid cards glued together by confidence and shaken by fear and greed...
The "New Ripple", Stellar Lumens (XML), is comparatively little known - initiated by the same people, it's decentralized (which Ripple is not), peer-to-peer... not a banker's coin (Ripple is obviously aimed at and being marketed to the banks) but one for private and business people, there's partnerships already blooming and the future looks great.
I would also watch Bitshares (BTS), which is a complete self-dependent exchange and trading platform where you can actually even trade Bitcoins, Gold and Apple stock as derivatives !
I could imagine a global crypto network consisting of Bitcoin, Stellar and Bitshares covering all the world's financial demands without a bank in sight, with Bitcoin as a mere value store for people who, in a long-forgotten past, used to buy gold...
But that's not going to happen easily, as the demand for confusion will likely be higher than that for functionality.
In a different vein, hope you'll survive the Truck-of -Peace, rocket and alcohol attacks of New Year's Eve, and that we can achieve something really constructive, high-powered ad utterly virtual in 2018. Like, earning a lot of money and saving the planet ;))
*Stellar Lumens can be acquired at Bitttrex, Biirfinex, Poloniex, Binance and Kraken
)
I used to hold a tiny amount of BTC, but since moving it to Alts, it rose by a huge amount thanks to alts, now I try to buy BTC based on skimming off other coins profits to pile up some BTC every now and then, but for now I have no BTC, just a bunch of other alts that are making my day :D I would not put more than 15% of my portfolio in BTC, just my two cents. Thank you
Just two cents ? That's so very fickle of you ;)
The general opinion (which is what eventually congelates into "God's will" over several weeks) now seems to be, "before all the new people entered the market and Bitcoin became parabolic, it was at $8000 - so it might sink back to that level once all the weak hands are gone" - and some are still there now, though there's less and less, as we can see in the sideways movement - no need for Elliott Waves to determine that. Everybody is talking the market even more down at this time, I also did my part - so I'll stop now ;)
When I got out of Bitcoin, I changed part into Lumens, thinking "better to hodle this, as an experiment."
I'm not into anything else at the moment, I took the ripple train but it almost burned me when the servers froze. Too much psychology these days, all the herd animals thinking they're highly individualistic, acting like one in ballet-like movements, us moving along with them... Still, there's money in day-trading Bitcoin as it goes sideways - but only if you're in the mood for it ;)
Yes, psychology is ruining so much, I lost so much when I first got into cryptos because of panics and weird tweets by some crypto celebs, which was only 5 months ago, I am planning to go back to sideways trading as soon as my portfolio reaches a certain target and when I feel im skilled enough, I will trade in amounts i can afford to lose, but now I cannot afford to lose anything :D
You need a bit of confidence that it's going to keep going up in the long run... as long as that's the case, in a stable upwards trend as we were used from bitcoin, you can buy the small dips and sell the small lows several times a day and if there's a dip that goes deeper, you just wait till it goes up again. Nothing else can happen. In times like this, you can never be sure, so you only buy when there's much corroborative that an up is real. As long as that's not the case, you stay out.
XLM has been a great performer. I sold around 20% a few days after buying it, to pull out my initial investment and a bit of profit, and have held onto the rest ever since, basically for free.
Happy New Year, m'dear!
Yes - it tends to move along with Bitcoin right now, the way most alts do - hasn't yet been able to cut loose the way ripple did. It lacks public exposure so far.
But I should be more likely for a new run than Ripple actually is at the moment.
Health and all the Best ;))
LOVE your title, by the way...
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