How To Buy The Bottom
INTRO VOLUME IS LOW!
Why is it hard to buy the bottom?
THIS IS NOT FINANCIAL ADVICE; THIS IS MY JOURNEY. YOU ARE RESPONSIBLE FOR YOUR MONEY.
Watch at 1.25x speed for a better viewing pleasure!
Selling the top but missing the bottom was a buddy of mines biggest regret; hodling he would be a lot richer.
Have to be unemotional,
always check what you know, hard to be right.
The bottom is filled with catchers = easier to buy.
When the market reverses your buys raise the price much quicker.
When the seller's exhaust, it takes very little demand to raise a price quickly.
New paradigm shift:
People thought Amazon would fail because it didnt has a big warehouse and lots of assets.
People thought Facebook would fail because of no revenue model/history/assets.
People thought Fortnite would fail because it was free to play and no one was going to spend money on virtual clothes in a game.
People think crypto will fail because they are not backed by equity in a centralized company. Crypto will fail because there is no CEO. (decentralized cryptos)
Things like Steem/EOS will be stripped for every piece of resource that can be sold on a secondary market.
Too many think things should be free because they believe they have always gotten them for free. If its free you are the product being sold. IE nothing is free.
Nation states don't dictate what currency is. Bitcoin proves this is going from pennies to 20k per coin in ten years. Nation states will continue to make their own "tax crypto" because that is all it will be used for. However, when the nation states realize their tax crypto is worthless and no other nation-state will accept it, and decentralized cryptos are rising in value and accepted everywhere, it will be straightforward for the switch to flip and they start to take decentralized cryptos for taxes; once this happens, it is GG fiat tokens.
Voter Proxy Coming Soon.
I encourage all Steemians to use the following tools to reduce the size of videos/images:
I use https://handbrake.fr/ to shrink the size of my videos. (it's free)
I use https://compressjpeg.com/ to shrink the size of my thumbnails. (it's free)
- I use @onelovedtube IPFS package to store my @dtube videos so they stay online. (10$ a month)
▶️ DTube
▶️ IPFS
ǝɹǝɥ sɐʍ ɹoʇɐɹnƆ pɐW ǝɥ┴
@theycallmedan, everyone wants to buy at the bottom. But the question is: when the market is at the bottom? At the moment, in my view, we cannot say that the crypto market is at the bottom.
And, just to add some words. I've been working on the financial markets for the last almost 13 years. In the first 3-4 years of my journey on the financial markets I also used to buy "at the bottom", or "trying to catch the falling knifes". It turned out that this is the worst investment strategy on the financial markets. At the end it may turn out that you will accumulate trash that you will never be able to sell, simply the value of the assets bought may go to 0. So, for my 13 years of experience I have learnt that it is better to buy an asset when the prices or the market is increasing (Uptrend) rather than trying to buy an asset in a downtrend.
“if it’s free, you are the product being sold...”
this could be the most important point you made man. i don’t think people understand the ‘free’ front end that these major sites make billions on.
fantastic video. i showed this to my wife and told her to watch it. lol she asked me the other day why i believe in crypto and steem so much...this basically explains it lol
the masses are going one way, i’m making sure i head in the compete opposite direction!!
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I explained to my mom crypto, and she said, "well that makes sense!" - super bullish xD
Your mom sounds awesome! :D
For me I’ll make a decision when to buy but probably in stages. Thanks mike
I find that dealing with the emotional piece is by far the most difficult. I do the best when using tools that allow me to pre-decide, set a strategy, and forget it.
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For what concerns us, I trust that the future of crypto is great as nations will come to its rising.
The shift is coming! I will never know when the top or bottom is so I just buy every month! It has gotten me below a $1 average cost which was my dream when I started in 2018. The only thing that has changed is that it has gotten better as an ecosystem so I keep buying.
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speaking of bottoms nlc2 has gotta be close. I do wanna buy that bottom.
I definitely don't have problems buying at the bottom, just wish I had the funds for it.
Hi Dan,
Excellent post - Truly the moment nation states realize their tax crypto is worthless and no other nation-state will accept it will indeed be a major turning point for crypto! The Banks and federal reserves are SUCH obvious negative and even criminal forces on our lives that time cannot come soon enough!
Upvoted and resteemed :D