Time to panic (once again)
Today was for sure the toughest day for bitcoin holders since I started investing on crypto. Because of these, I just wanted to share with you this tweet from John McAfee:
https://twitter.com/officialmcafee/status/960589832853643264
Looking at this we can understand that even when this has been the hardest fall for bitcoin in the last couple of years, it's been quite normal to see bitcoin reach high prices just before the end of the year just to see a hard pullback in the first few weeks of the new year. And then again, after those few weeks it has been it's usual behavior to rally back up to it's previous levels (and sometimes even higher. Way higher).
If you got into bitcoin just to speculate and make a quick return and bought at near ATH price, I can understand why are you selling (if you didn't already). But if you came here because you believe in the possibilities that BTC and all of the other altcoins mean for real economic freedom and because of the technology, sell only if you think you will be able to buy again at a lower price. If that's not the case is just time to be calm and hold your investments. You'll only lose if you sell.
And then, when you sell and watch in a few months the price go higher than ever, you'll buy again just to sell again when it goes down, taking you into a vicious circle of failed investments.
This is the time to trust your judgement and keep the same strategy. This is the time to be patient. This is the time to hold.
I don't ever see BTC coming back. The excessive fees and transaction backlog will never be able to be corrected. It's dead. Get out while you can.
Jejeje, I'm pretty sure this is what many people thought every time BTC crashed. And every time it came back stronger than ever
Feeling optimistic here. I bought 3 BTC with fiat today.
I've mostly moved out of BTC. Onto other coins.
Damn it. I wish I had the money right now to do the same
not only do you have no money )))
Same here, but 0.05 BTC :))))
It's totally right to be optimistic! As I am always trying to explain in my articles there is just no reason to fear that the crash is coming.... It seems like people are beginning to understand it! :)
Damn friend, you got the money. I just sent some £ to Bitstamp to buy BTC, but that will take a day or two to arrive. I'm looking forward to RobinHood coming to Europe (or similar). It'll boost the adoption of BTC and Cryptos to the mass market as it'll be the fastest and easiest (arguably safest) way to buy BTC from fiats. Looking forward to the Feb/March Rise!
same, bought some more at $6750... unfortunately started a bit too early at about $10k, but live and learn :)
red market
Buy when there's blood in the streets. Its a second chance to anyone who thought they missed the boat.
Very well said. If you got in this a year ago with mindset of long term investment then you should be calm and let the long term come to frutition. If you only invested what you were willing to lose then again you should be ok now. If you invested your life savings at near ATH that’s another story. Rule #1 Don’t invest more than you are willing to lose. Steem On !
No reason for panic ( if you didn't invested borrowed money :-) )
Buying something as volatile as Bitcoin or any other crypto with borrowed money sounds like a really bad plan :P
It would explain a lot of the panic selling, though.
Hehe, yeah, maybe that's why people end up with panic selling their crypto..
Or maybe it’s the best plan anyone has ever had.
It’s bound to be one of the two.
Do you really think it is a good idea to buy crypto with loans? Even if the cryptos rise in value, the people would need to sell pretty fast in order to not get insanely high intrests, so they can't really hodl either.
No I’m definitely just kidding lol but if you got a loan at prime time and got 100 percent gains, one could get lucky.
Ah, it makes a lot more sense now that I realize that you were joking ;)
I hear this all the time people using credit cards to purchase crypto. I have even heard of some people putting a second mortgage on their homes. This is a terrible idea, please only invest what you can afford to loose. Feel free to uplike and follow, I tend to return the favor.
Yeah, that's a terrible idea! This is one of the problems with crypto these days; people still think it is a get-rich-quick scheme, and attitudes like the ones you describe can easily ruin lives :(
Well said my friend
My friends are begging me that I am going to invest their money into cryptos :D
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The blockchain technology is the important factor!
That's true. The real potential is in Blockchain indeed.
Without a bitcoin there wouldn't be a blockchain
My understanding is that bitcoins were created to reward miners for keeping the network up and running. The blockchain is the main idea, bitcoins are simply a tool to incentivize people to run mining nodes and keep the network intact. I could be wrong though.
Only the bitcoin block-chain. That's for bitcoin and Counterparty assets
It's the oposite, Satoshi Nakamoto wanted to create digital P2P money. And then, as a solution to solve the double spending problem he came up with the idea of the blockchain as suplement of bitcoin, as the force behind it. But again we would not have a blockchain without bitcoin
I love these visualizations
hopefully it will turn around once the people that want out has gotten out. Feeling optimistic that buyers will stabilize it eventually.
Just wait till China softens its stance. The flood will be epic.