Are you suffering from the current cryptocurrency market retrace?
This post is for everyone who’s feeling down about the current dip in crypto prices and/or is potentially experiencing some financial problems as a result of losses in cryptocurrency investments made when prices were higher. Let’s talk about this for a moment. We will cover three points as seen below.
The recent history of crypto-prices
So if we look at how cryptocurrency prices behave today. We will see the market cap of all cryptos as a whole: They are of course markedly lower than what they were like 90 days ago. Four months might feel like a big whopping time-span but we will see that it is the current level of the market cap we’re at nowadays. That’s right! We’re at about the same level about four months ago. If we look at it from another perspective, we might get scared because a lot of people probably feel like it is the end of the crypto-world! But it will help if we look further into the past.
Looking back farther into the past of crypto-prices
It is entirely possible that we are headed into another dark-age in crypto-history. If you have been around the crypto-space for just three months, it’s but natural to be afraid now. The last time that it happened was towards the end of 2013 and it lasted for nearly a year. If our expectations are influenced by only the more recent upward trend, we might feel quite frustrated, broke or at least it’s been a nerve-racking experience. But as I said earlier, we’re just at the same level as it was about four months ago.
It could get even lower! In-line with historical expectations, we can expect it to stay as it is for a year. It makes me think: This is a long game! Indeed! It really is I think that investing in cryptocurrency in the year 2018 is just about the longest game that a human could hope to play in the world. The only longer finance games I could think of are like life-plan/insurance and retirement investments made in early adulthood.
My story and what I learned from my past experience
Most people, when they started playing around with cryptocurrency, trading or whatever, most people buy high and sell low. I know I did, right? That’s how I found out that I’m not suitable for the day-trading game. If that’s you, don’t feel bad! Overcoming those tendencies to buy high and sell low involved overcoming like a part of your primal instinct, if I can call it that, that gets really excited about shiny things and then becomes sad or bored when they're not anymore new and exciting.
Ok, so that's fine. You can overcome that through practice or better yet, preparing for a longer game. In terms of the prices of things that you may be invested in right now. Let’s say you only entered the market in the last three months. You’re definitely down! Let’s talk about that. -I totally know what that feels like.
That’s what happened to me and of course many others. We were at the end of a spike, a few years ago, and then suffered a major crash (as they called it). Let me tell you about my response to that. So, around that time when you know, the retrench was steep and really fast, I had a major expense come up. Nearly everyone I knew advised me to pay this expense and I seriously considered it. -But I knew I could only pay it if I sold off a significant portion of my cryptocurrency savings. I remember contemplating it for hours, at times, looking at the sky, asking for guidance. If I were to pay this expense, I would have to sell off a significant chunk of what I considered part of my future. And so with much thought and deliberation, I eventually decided to hold it. I decided to forego the expense and these are things that you can do to safeguard your future.
Sacrifice
People generally don’t like to sacrifice right? I mean people search the web and watch videos for instructions on how to make things easier, not harder! so I don't expect this post to be popular. A more recent example I want to give you is when I started investing in some altcoins, about a year ago.
My wife and I made our expenses so low, a lot lower than before. After I resigned from my job and decided to earn on my own time, It was quite scary, so I watched all the money going out. For some people, it’s quite normal to go to coffee shops everyday, but I prepare my own drinks and we cooked food home (even now). I just don’t need to eat out that often since I no longer work in the office. We hardly ever had vacations and I have been spending a huge chunk of my time studying ICOs and new coins to see where there’s a good future waiting. Letting go of an 8-hour job meant having to learn more and working smarter.
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Your future is in your hands.
Now, this is not financial advice and as usual, please do your own research and make your own decisions on what to do with your money. In my opinion, and based on my experience, if I feel that I believe in a coin or project, and I feel like I’m selling part of my future by selling a huge portion of it, I won’t do it. What I do is just look for ways on how to cut down costs more and be more careful (even stingy) when eating the grains that we stored for the rainy days. I won’t ever sell all of my cryptos to people who wish to buy them at a low price.
Please upvote, resteem and follow me. Thank you.
In the first place, it don't matter actually , if you're a long term investor it's always a good news to you, and if you're a short term investor it's a bad news for you. thanks for sharing though :)
I believed in crypto in early 2013 when my journey began. This part of the game is no different then except the public is JUST NOW getting involved. Wait til the public truly ADOPTS crypto for application in real society, THAT is when you will see it blow up
My thoughts...EXACTLY
Please please do an upvote, please, brother, please give me an upvote post
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That is what I should do . NOT SELL MY FUTURE 😊😊😊😊
Definitely
Please please do an upvote, please, brother, please give me an upvote post...
NEVER SELL.
You still have to sell at some point. Else what's the point of accumulating them. "Our precious" has to be turned into profit at some point. Just don't let'em go when low. Hold on to them like James Bond on the side of a flying helicopter.
Doesn't make sense. What if you desperately need the money for some reason? Like hospital fees, food, etc? Smh.
Sell some stuff you have laying around your house.
Buy/get scrap metal/old computers and sell it to scrap dealers.
always have stuff laying around to sell if needed, keep the crypto and wait for it to go up high enough.
Something like that.
Buy seriously...any crypto with an actual product now that you sell....you will be selling your future...
Please please do an upvote, please, brother, please give me an upvote post
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I agree, hold everything in your bag. I firmly believe that BTC is going to come back to it's glory days of $20k and move even farther beyond that. As it does so, all my altcoins are going to also go up in value. Now, depending on my goals, I may cash out once I've reached a certain amount.
We are early in this. So we do have to bear this volatility, but because we are early, we can see it gain massively as well, the moment it crosses half a billion mkt cap again moving towards a trillion and more. Excited to be at the forefront of seeing the banking dynasty collapse.
Please please do an upvote, please, brother, please give me an upvote post
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Don't spam people...won't work out in your favor.
Another good reason to never sell...if you had Verge today, it just jumped up 77%
HODL!!!
Please please do an upvote, please, brother, please give me an upvote post
Somethings the expense is required to be paid so no other choice. To those who are able enough to get the expenses paid while holding their crypto is a rag to riches story. Everyone who is invested in crypto is dreaming that will happen to them. With hard work and dedication like you hopeful more can follow in your footsteps. Thanks.
The history of Weimar Germany is unknown to most people because the knowledge of its injustice leads them to a complete understanding of the rise of Hitler and National Socialism. This naturally evolves into a "full-circle" understanding of cause and effect - which then leads inevitably to the (((cancerous root))) of all of our woes.
I leave it to you, dear reader, to figure out the rest.
Just HODL!
Thanks for this. I am NOT going to sell my coins after I read this.
I’m spending a lot of time with the colleagues that I introduced in crypto world to convince them about hodling. Some of them just quit, the rest are becoming stronger.
Good post
That is also a reason why rich people is different from normal one. They tend to do what anybody has want to
I believe downturns in the market are necessary to clear out the ponzi schemes and useless tokens that are naturally pumped during the mania phases. As the newcomers who invested solely based on hype are driven out, we build a solid foundation for a new runup. Many forget that we are still up hundreds of percent year over year. While it is definitely possible we are entering a longer bear market, my view is that we have already bottomed. Over the counter and institutional demand has been rising over the past several days.
Regardless of the short term price trends, holding long term is very rewarding, particularly because a majority of gains are concentrated over a short period of time. Holding is the only way to ensure exposure during the few days where the majority of gains are seen. It has been demonstrated the average retail investor in the stock market earns only 4.2% per year (before taxes and inflation), far below the average market return...the same phenomenon may be seen in the crypto market.
Really wonderful words a little patience will rise
We do not want Elias now
I am Saber and I will achieve a lot of gain in the next time
Love you 😍 @roseliver !
Good post
If we would sell our holding to cheap, we are just making somebody else richer! Not planning to do this. Thx for reminding us!
Great
very well said.
Yess, thank you a lot, may i send this post to one chat of the project where i invested in? ;D cuz people are so impatient there, no words how much, and this is annoying. Thanks alot for your sharing!
The market is transferring of wealth from impatient to the patient people
Good post.
I'm not worried about today's falling market. I also hold all my crypto. The current situation is a great opportunity to study the cryptocurrency market better, to find interesting projects.
Once i found crypto SmartCash, and now, when the whole market is down, I see great news from the development team. I see that the work is going on, despite all the falls.
And I'm sure that soon we will see the growth of the cryptocurrency market, probably in a few weeks.
This is an important part of my present and future.
many people believe this is the bottom, lots are buying up very cheaply SmartCash is on sale now. Lots more innovation to come watch that space.
Thank you so much for this amazing post ..I was about to sell my future but this post helped me to do better in steemit ..Now I think I can do more on steemit ..thank again for your informations I'm impressed with you 👌👌👏👏
Looking further into the past only makes me feel worse because it shows how much further it could drop. Putting things "in perspective" only works for those that bought at much lower levels are still positive, if you are down 60% then hearing about how much lower crypto was in the past doesn't help. Basically if you bought in December (like me) it was a horrible time to buy, in fact the worst time to buy in the history of crypto.
You are looking at the past three months - that is a very short timescale for any investment. Hold for several years, and I believe your investment will yield handsome rewards.
Thanks for sharing. I've smashed the upvote button for you!
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Get perspectives on things !
YES sir HODL HODL
check out my post i made about making quick gains if your interested
https://steemit.com/life/@ychaudrys/how-to-get-10-to-20-percent-gains-in-one-day
amazing post sir...👍
totally hold future is bright
long term i think
HODL... Let the profits run and live financially free and indepedant:)
Thank you for sharing your experience with us @hiroyamagishi
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Yeah i am holding all of my cryptocurrency
Thank you @hiroyamagishi
I am hodler
Crypto is not dead.
I literally just posted an article on reasons why - https://steemit.com/cryptocurrency/@localcoinswap/no-cryptocurrency-is-not-dead-here-s-5-reasons-why
Is any body holding Vechain here? Im still hodling on this one.
Challenge, where you can win up to 100s $SD!
If you want to, you can try it here:
i have allmost 200$ BTC&XRP :(
Its super important not to sell!
We are just around the corner from some massive gains!
Always HODL
I can't understand some people getting away from their crypto right now. How something of so clearly futureproof could go away suddenly? It's not, it is just growing and developing further. Industries, companies and people need crypto to make their lifes more efficient. I know big money is playing big games in front of us, but this is exactly why: to get us to sell cheap. This is one of the biggest opportunities for average people to get rich in the whole of history, don't you dare losing your position in it now, when it is about to start.
I agree, i've cut all my expenses out, and investing all that I have. You'll survive with less for a few years in return of a chance to do whatever you wish afterwards.
Now is the time my friends, to make it or break it:)
slowly but surely, i will convert most of my wealth in crypto. maybe hold some real world money for daily use. aint gonna sell my future for current convenience.
If everyone decided to hold, we would all be screwed. HODL!
Yep 😊! Thanks for sharing this
I agree and despite the current state of the market, which could get worse before it gets better, I think a panicked sell-off could be a big mistake that I'd end-up regretting for the rest of my life.
The market hasn't matured yet and Hedge Fund managers are saying that the bull run will return and we know they have access to all sorts of inside information. Institutional money will begin to flood in, especially after Circle's acquisition of Poloniex.
We've got the Lightning Network just around the corner, Schnorr signatures and Nimblewimble. There are strong rumours that a central bank will put its currency on the Stellar blockchain, We've got some big news coming from Verge on the 17th, that could transform the crypto market in a positive way;
https://steemit.com/cryptocurrency/@sandwichbill/will-verge-moon-soon
You are excellent! Your post is very helpful for our stay on the steemit platform
Great post!
I just bought in this dip... lost at the mo cause I didn't buy at the bottom of the dip but... I am excited... I know in 5 years I'll have good profit..
and I totally agree... I wouldn't sell it if I 'had to' this year!
Thanks for this :)
With Love
Hart Floe Poet
♥
I buy and sit on it. I am not concerned with the value today, tomorrow, or a year from now. I am more concerned with the value in 10 to 20 years. If it is nothing and the crypto failed then that is life but I have a feeling that, with some smart buys, that I won't have that problem across all of my crypto investments.
The price on Bitcoin has dropped more in the last 24 hours. Great. When I buy in, I just get that much more for my regular investment than I do when it is super high. It is an old investors trick - I believe it is referred to as "leveled investing" or something. I put the same amount in each month (due to fees I had to abandon weekly investments) regardless of price. Now, as the price goes down, I get more per investment. Obviously the reverse as the value climbs. Over a few years though, I end up with a nice nest egg worth of crypto.
Just remember, don't invest more than you can afford to lose. Just to be safe.
My recommendation is select a percentage to invest, a percentage to buy and the other is to safe.
Even though I had lost more than 50% wealth, I still refuse to sell off. I am always looking forward to blockchain technology.
it is the truth dont sell. Keep the money in crypto and you will be rewarded. if you ever get a chance have a look at @smartcash , great rewards for HODLing
Must see my analysis..(if you will) you won't be disappointed.
I am new to steemit kindly check out my introductory post
You comment are welcome
https://steemit.com/introduceyourself/@mclongman/steemit-have-a-brief-introduction-about-mr
Down? Hell no, i’ve been waiting for this dip! Finally affordable buying poits and months of time to really get a grasp of which projects I most support and think will succeed longterm. Your words of solidarity are not unheard though. In fact I’m glad the sentiment of change is still in the spring air!!@hiroyamagishi
Hey great post. Have any of you heard of the polymath network? I think the future for it is very bright. Let me know. 👍
Many people are feeling down. Weak hands are selling. I feel strong about crypto as a future currency or virtual asset. Greetings from Osaka.
Good morning, your post is very interesting, although it took me a while to translate and read it since I do not speak English and it was difficult for me. I hope you can take into account my humble comment, a greeting from Venezuela