Everybody who is freaking out of cryptocurrency market
“Be Fearful When Others Are Greedy and Greedy When Others Are Fearful”
― Warren Buffett
This is how it is supposed to go with most markets. Especially with high volatility markets like this. Keep calm and don't sell! This is more of a time to buy, not the time to sell.
Be brave,
Robert
those are words of good advice.....most of the time. Even Warren has said that he himself has made some bad investment decisions, that he has been lucky in most of them to get out before he lost too much. You have to know that not all negative sentiment is worthy of investing in.... i can give you a case in which a lot of financial investors put large investment in and lost their butts on.... Xybernaut(XYBR) , this was a company that had made one of the first wearable tablets for industry.... their stock was somewhere around $4 a share when it announced it's new product set to revolutionize the field in wearable computing. almost overnight their stock went to about $12 a share.. then Both Amazon, and Apple announced they too were developing a portable tablet in PC format... XYBR's stock dropped right back to around $4 a share like literally overnight...in part because of the Amazon,Apple announcements, and also because the CEO was being investigated for mishandling of the company's money.. the stock was delisted shortly after renaming a new CEO a few weeks later.... Afterall, investing is nothing more than speculation. There are just safer investments which tend to be consistent with a payoff, and there are those investments which are high risk, and may never payoff...but when they do they usually payoff big to those who were in it from the start.. That is kinda how i feel about crypto's .... they are currently a relative high risk/reward investment...currently the only crypto currency that has a relatively stable value is BitCoin.. everything else fluctuates wildly, and cannot be traded with any confidence that you are going to make anything on the trade... That's not saying you CAN'T make money on them, just that the risk is definitely higher than say, trading the Yuan...or AUD...
Hey, thanks for kicking in. You got some good points! Here is not really the same case. Obviously the blockchain = huge low cost database technology will be used and will survive. Buying currencies (they are not shares most of the time) are like kindof betting that someone in the long run will use this product with this currency, so it will be a huge demand for it, if not you loose. Now all the market trend is down for a few days, and maybe will be for a few weeks more, who knows. This doesn't matter in the long run, who buys stuffs should more or less invest in the technology with a big risk / reward ratio, and shouldn't be freaking out when prices drop like 50% :) (after a month of huge gains, it should go down at some point)
I must disagree with your comparison here about Xybernaut. Firstly, those big companies (Amazon, Apple) have way more capital to simply dominate any smaller company. Secondly it's a different market, companies value like Amazon and Apply are based partly on assets which cryptos usually don't have (Bitcoin for example has no intrinsic value). Lastly the market volume is smaller, which means whales can have more direct influence on basically any price of a coin they want.
Just hodl man.
dude.... you so missed the point. my point is that, as with any investment there are inherant risks involved. As bitcoin is not as well established as a currency yet, it is a more volitile and riskier investment. for that reason the rewards are greater for those who ride it out and buy on the dips... you may not agree with my statement, but as it relates to investing it is correct. were i holding any BTC today i would be holding, and might even be tempted to buy more...as it appears to simply be a pullback on profits, if it were to continue down below it's last known support level then i might be a little worried...
Oh no, I completely agree with your point! I just believe your comparison to companies as Amazon and Apple is wrong and brings other people in a wrong reasoning. The market's value/price work differently.
i am not comparing BTC to Apple/Amazon... they are only used as a reference to why investing in what seems like a sure thing isn't always a good thing. at the time when XYBR announced, it looked like a sure thing until Apple/Amazon announced a few weeks later.... you are correct in that currencies trade differently than equities. you're reading too much emphasis into the Apple/Amazon/XYBR reference... Currently Crypto-currencies are a risk/reward trade and due to their high volatility should be traded as such. add to the mix that most BTC exchange transfers are not in real time and you have an even higher risk to reward ratio.... I'm not saying people shouldn't buy Crypto's...only that they should be careful and trade them with caution.
Of course this is a time buy, short and medium term investors are gradually running out of time and long time investors are kicking in for the long term benefit after the bearish market time phase is over.
Just chill everyone. Get tether or something if the volatile market bothers you.