Are you worried about this huge correction in the crypto market? You shouldn't be....
Baron Rothschild (an 18th-century British nobleman and member of the Rothschild banking family) is credited with saying
"the time to buy is when there's blood in the streets."
I'm sure he knows. The Rothschild family made a fortune buying in the panic that followed the Battle of Waterloo against Napoleon amongst to many other examples to name.
What he meant by that is the best time to buy is when all the stocks are in the red. When people are dying to give away their fortunes at a fraction of the price because they are scared they are going to loose it all. Don't be the fool and give away your fortune. I know it looks bad, but now is the best time to buy! All I see is sale, Sale, SALE! :)
I know many of you are still rather new to the cryptocurrency market and have never seen a correction like this. Let me assure you it is completely normal! I have seen quite a few of these corrections in the crypto market since I've started trading and I know how nerve racking it can be, especially a big one like this. But do not think that everything thing is going to fall apart because it won't. Everything is fine. Don't get me wrong maybe some bad coins might fall apart, but for the most part everything will be just fine so just HODL or do what I'm doing and buy the dip.
The problem is the market went up way to fast without a good healthy correction, so this is now what is happening now. Don't let the Fear Uncertainty and Doubt (also known as F.U.D.) from all the negative media scare you away from cryptos. Now is literally the best time to buy. Just do your research, buy good coins that you have faith in and you won't have anything to worry about on a good correction like this.
Look at these 24hour low prices! 30%, 40%, 50% and some even more than 60% off! What a steal of a deal! I can't remember the last time I saw a sale this good on cryptos ;) Retrain your mind how you see this market and you will be fine. If you don't have faith in the crypto market as a whole you probably shouldn't be trading because the stress will eat you up. Remember, healthy corrections are not only normal but also good for the market.
Do you remember when the market cap was close to a trillion dollars? It is about 415 billion at the time of this post and I saw it at 350 billion early this morning. Like I said before this is normal so sit tight and ride out the storm. Or do what I'm doing and take advantage of this red (blood) market and buy Buy BUY!
(This is not investment advice)
"Peace, love and all that hippie shit"
I wish it wasn't so, but Rothschild's statement is true. Those who bought real estate during the financial crisis in 2008, made out like bandits when the bubble re-inflated. Same with stocks!
Agreed. But now its the peoples turn to make some money with cryptos! ;)
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I made the mistake of selling my cryptos when I first got into this "crypto world" when I saw the prices going down. But since then, I've learnt my lesson and I would never sell when everything is red. It's indeed the best time and opportunity to buy, because everything bounces back all the time.
Absolutely! And dont feel bad, I think we all make that stupid mistake once lol.. as long as u learned from it, u will be just fine. 😉
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Cool read @moderndayhippie! You showed the bigger perspective. It's easy to get emotionally wrecked with these ups and downs so it's nice to read something reassuring like your post. I'm following you for more. Thank you and till the next post,
Klaudia
Thanks! thats actually why i post articles like this everytime there is a long/hard correction.. lol.. last time i called it "the sale of a lifetime!" Just to try to ease peoples minds.. i remember my first hard correction and i made a lot of terrible mistakes, so i try to help others from doing the same 😉
I completely agree!
Once people have been through these dips a few times like us veterans have, they will learn to hodl and start buying during these dips!
Yeah, i think there is definitely a learning curve for people on their first hard correction.. I know the people who bought bitcoin at $20,000 are freaking out that they lost all their money, when the truth is all they have to do is wait a month or two and they will be doing just fine.. its a hard lesson to learn, but once you understand it.... "your golden pony boy" lol.. just gotta have faith in cryptos ;)
It's so true man. If you believe in crypto then you believe in the long game. I wont sell and am truly excited about the huge discounts. This means more of the coins I have always wanted to buy up are at a more reasonable price.
Exactly! I missed a few good coins when they came out and now I get a chance to pick them up at or below the initial price! I can't be mad at that at all.. :)
My only regret in choosing to HODL right now is that I don't have enough disposable income to BUY BUY BUY more! People who are wise enough to fight through the panic will be extremely rewarded for their faithfulness. Thanks for sharing some wisdom with people who may be panicking right now.
Hodling is always the best choice to be honest.. you can never guess the tops and bottoms of the market so most people miss the big day gains by jumping in and out.. I hold 75% of my portfolio and only play the market with 25%.. some months I do well playing, some months I do horrible.. After 8 months of this I honestly don't know which way is better but I will tell you that holding a good coin is a shit ton easier than day trading!
I can't believe I missed this. My fault! He obviously knew what he was talking about... smh
you haven't missed anything yet! Still a great time to buy. I am actually still hoping for one more down turn in the market.. I mean these are great prices as is, but you still have a little bit of time before this market really explodes!
Awesome! Thanks for sharing. I am still learning bout all this crypto thingy and your blog piece certainly helps
Glad i could help 😉
good post, great quotes, and i believe good advice too.
i bought some steem today :D
So did I! 😉 lol.. great minds think alike.
a great mind belittled by FUD (as far as I am concerned) :D
Yes my friend, this may be one of the last discount shopping events in history. Not sure though/ How low can you go?
I honestly think that we are right around the bottom of this correction.. I don't think bitcoin will drop below 7,500 and we got as low as 7,700 yesterday! As soon as some of this FUD goes away we will be heading to the moon again!
I see. I will look to go discount shopping and see what turns up.
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I've increased my portfolio by almost 50% doing day trades. I'm enjoying the blood bath because I've experienced before. Buy, Buy, Buy is right! It's Black Friday for the Crypto World. Great post!
Just wish I knew more about it so knew what to buy. All my spare time is currently spent on Steemit and that's more than enough learning at present so I don't have time to learn about which currencies are a good buy.
I'm tempted to buy Steem but I want to see what I can do here without buying in, as a kind of experiment.
Steem is amazing. I am doing the same thing as you, just building steem up with my blogging skills. I wrote an article last week about steem vs steemit that will tell you why its such an amazing crypto. Other than that, there are so many good ones, really the best thing to do is research. Read the white paper on any crypto you are interested in and see what the company is all about.. see who there team is, what they are trying to accomplish and if they have a working product or just an idea..
but i honestly wouldnt trade my steem for anything.. and all my sbd gets converted to steem cuz i think it will be a $100 coin by the end of this year.. :)
Thanks for the advice. I just don't have time to read white papers at the moment and I'm not about to trade my Steem for anything.
$100 coin by the end of the year? that would be amazing wouldn't it? 😁
No one has time to read them lol, they are painful to read.. But you should never rely on anyone elses opinion when it comes to investing, always do your own research.
Yes, $100 per coin would be amazing! The steem network is actually way faster and better (in my opinion) than the etherium network. I think people will start to realize that this year now that steem is finally ready for SMT's (smart media tokens) that are built on top of this network.. its all rather confusing, but if you want to know a bit more about why steem is so great (with a quick/easy read) check out this post of mine :)
https://steemit.com/steemit/@moderndayhippie/incase-you-are-confused
Thanks, now I finally know what FUD means! (yes I'm a noob) :)
Dont feel bad, we were all noobs to cryptos at one point or another. It took me a lil while to figure it out too! lol.. there is a lot of slang in the cryptosphere that you will learn about just from reading stuff on steemit.. :)
Any particular cryptos you favor during this panic?
There are soooo many! lol.. But I try not to give out to much advice because people suck and will blame me if they panic sell or make a stupid trade on the token I mention.
If you really are interested in a few tokens send me the names on discord and I will tell you if I have researched them (I have researched well over 100 tokens) and what I think about them, but I will never tell anyone what to buy.
Great information. I haven't started buying yet but I will take your advice.
Now is the time 😉 just make sure to do ur research and pick soild coins.
You need to have steel nerves and a cold head to buy when there's a blood bath around. Most often people are frightened and sold.
Yeah, thats the problem for most.. but for me i only buy cryptos i truly believe in, i know a correction doesnt actually hurt a good company. Thay already have the funding they need from the ico to get thru a few years of rough times.. if they arent worried their is no reason for me to be worried.. so i guess im saying just do ur homework and u will always be good 2 go.. 😉
Interesting... That’s a lot of red...
yes it is.. been that way for quite a while now.. we gotta be close to ending this bear market soon!
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Is amazing post about crypto currency.
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