And Finally, The Bubble Bursted
It has been very obvious that this is an unsustainable trend. Too much vaporware and inflated numbers, too much optimism not fueled by any hard facts, too much greed.
It was inevitable.
And so, the bubble bursted.
I mean, the Dow Jones index lost 1,175 points yesterday, the biggest single-day drop ever.
I'm talking about the stock market bubble, what would you think :) It's that bubble that bursted, not "ours".
The crypto world, although heavily correcting and battered by FUD news from old establishment, is doing quite well. Bitcoin is still 6.5 times more valuable than it was in this exact day last year.
As for STEEM, it grew 18.3 times last year, from $0.16 to $2.94.
So we're all good, folks.
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
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I know the feeling. That's why I created steem.supply, an easy to use and accurate tool for calculating your Steemit rewards |
According to Bloomberg: Warren Buffett, Jeff Bezos, others lose $114 billion post market rout..The rout followed more modest declines that erased $68.5 billion in wealth from the world’s 500 richest people... Indeed we are doing very well....
The BTC in 2011 cost 0.33 cents and see what the price is now, who could imagine in 2011 that the btc would reach 20k, I really believe that the market will correct and begin to rise soon.
On the steem although the price seems low, its fall has not been as strong as other cryptos. The truth surprises me how stable the steem is
Haha oh you. You got me there.
He got us all, this naughty boy, good move @dragosroua :-)
:))
The correction will lead to the diversification and steem has big chance to be on the top 10 in 2018.
I joined the crypto world first of all for freedom and to take position against financial institutions, red days will never stop our walking.
Cheers.
It won't if people keep cashing their Steem and SBD out the minute they get it. The trader's mindset will not help Steemit in the long run.
HODL, I'm in Dow Jones for the long term, because I believe in technology.
I laughed.
Lol. This is nice. You definitely got me with the heading and opening paragraph! Lol. We're coming back stronger!
Wow. Did't realise that drop was the biggest single-day drop ever. Glad to hear you're still optimistic about crypto and Steem though. Thanks for the update! 😊
:))
I hope the end in crypto drop is near...
So say we all!
Praise be!
:))
_
HAHAHAHHAHAHAHA!!!
but still a mere 4.6% drop in a day? That's every 2 days in the crypto world...
Not really a bursted bubble yet for stocks, simply a correction. Not even a bear market yet (defined as a drop of 20% from recent highs).
Yesterday introduced a lot of uncertainty to the market, hence the flight to safety. Jerome Powell was sworn in as the new Fed chairman just as it appears infaltion could be heating up...and oh yeah, Janet Yellen on her way out offhandedly mentioned that she thought stock valuations were excessive.
A common adage: "Bull markets don’t die of old age, but rather they’re killed by the Federal Reserve."
Brilliant :)