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.
Wanna know when you're getting paid?
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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.
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! 😊
Lol. This is nice. You definitely got me with the heading and opening paragraph! Lol. We're coming back stronger!
:))
I hope the end in crypto drop is near...
So say we all!
Praise be!
:))
So good. Well played, sir. Well played.
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 :)
HAHAHAHHAHAHAHA!!!
but still a mere 4.6% drop in a day? That's every 2 days in the crypto world...
I was ready to make some motivational comments about the crypto crash, but then you were actually referring to the stock market. haha. The lower the price goes the higher will it rebound for crypto. For Dow Jones, I don't know. :)
Haha I love it @dragosroua! It was a crazy day for the stock market, which makes a change for once. Regarding cryptocurrencies, I'm holding strong.
I'm currently starting a porject called the "Steemit Success Initiative" in which I am trying to get advice and delegated SP to help with advertising campaigns that increase the amount of users on Steemit, as well as increase the amount of daily active users through curation. I would love to talk to you about this more if you have the chance!
But but..Paul Krugman says that we are crazy sect-members!
:)) let's not forget about Nouriel Roubini here...
Thanks as always for your insight. It had to correct at some point.
Hahaha this thing isn't crashing for awhile! Steem will go back up pretty soon I think.
It sure seemed sth else but yeah glad to go through the post ,hope we are !
Bonds are selling off and spiking interest rates. I imagine a lot of the "BITCOIN BUBBLE" nonsense was more about more conventional investors chasing gains in the crypto sector. If you look around, there are not a lot of places to stick your money where it will start paying off right away. So we got a bunch of people chasing gains in crypto, blowing the same kind of bubble they blew in the more "conventional" sectors. Then they took profits. Cue the sell-off in crypto, cue the sell off in equities. IMHO equities race higher from here, crypto continues to get monkeyhammered. Everything falls apart in a few years. Blockchain lives on. We rebuild. WOOT WOOT!!!
Saludos excelente análisis de coyuntura económica entre los dos mundos. La economía real encabezada por dow jones y el mundo cripto liderizado por el bitcoin.
Lo extraño y te confieso es ver por primea vez no si ya ocurrió que las dos burbujas financieras cayeran en un tiempo similar. Yo entendía que cuando uno subía el otro bajaba. Era lo que me habían dicho antes de entrar a este mundo steeem... Pero veo que no es así.
Tambien pienso que en los dos mundos económicos hay muchos interés y el poder de china o de asía pesa enormemente en inflar dichas burbujas.
Por otro lado leyendo tu análisis me tranquiliza saber que a pesar de la crisis por inflación de la moneda líder la nuestra(steem) este fortalecida hasta la fecha.
Significa que las cosas se han ido haciendo bien. Crecemos según las posibilidades y
thanks for the positivity :) i liked the statemnet that bitcoin is 6.5 times more valuable than it was last year, so we are all good! haha i also didnt know that you created steem supply! someone recommended it to me!! I see that you made price updates on that as well which is great! so the value we see on there is correct and taken out 25% curration? but we only get half of that sum in our wallets is that correct?
What you see in steem.supply, the value in USD, is what you get in your wallet, liquid, at the market place. So that's the whole amount, after all deductions, calculated in USD.
Twas nice seeing you in London, although we didn't have time to talk :)
yes i know, i only recognised it now that you were at the meet up! but we didnt get a chance to talk! next time :) x
Oh my gosh!!!!!!! I was just reading through comments and I just made your recipe on the internet the other day!!!!! Lololol I didn't even know you were on steemit! I was just looking for a recipe and saw your video on YouTube and watched it (along with about ten others cuz I was nervous!!! Lololol)
Small world! Haha!!!
Crazy!!! 😂 And I posted it and it looked almost exactly like yours... So success!!!! (I jokingly called it furry fish... Instead of herring under fur coat 😂😂😂)
Have a great day!
The underlying tech of the cryptosphere is still strong, and only gonna get better with time. The stock market however, seems over-valued considering the state of the global economy.
I dive a bit deeper in my latest post if you fancy sounding out my take on the future!
Haha, that was a clever title
I am sure no one knew what was actually coming when they opened this post
Funny
And with the Dow Jones suddenly becoming volatile, maybe the crypto market is looking a little more appetizing.
Maybe investors will shift to new pastures...
I've said it before and I'll say it again, 2018 will be a very interesting year ;-)
Wall Street vs Crypto, in the future 🔮 we will see where is safer. A lot of burned hands may come to CryptoLand.
In crypto anyone can invest. In wall street only big pockets
After the crash of 1987...everyone in the stock market got even richer.
Nah, I can share your optimism, but comparing a day drop to the year-long increase of Steem isn't fair.
Quick, we need another quantitative easing! The Dow is too big to fail.
:)))
Optimistic mindset is the way to go dragosroua! I agree with you keep up the good work. In a matter of fact there is good news today for crypto lovers.
: [ BITCOIN should SOAR again THIS WEEK! ] according to CNBC... for more info check out my blog: https://steemit.com/news/@thecryptocrazies/good-morning-we-ve-got-some-great-news-in-the-crypto-world-bitcoin-should-soar-again-this-week
Excellent points! I think the crypto world will fall a lot farther and then have a rebound.
Dragos, buenos días. Excelente análisis de escenarios del mundocripto. Coincido contigo contigo con la burbuja quizás fue una estrategia para atraer a china por los rumores que saldría del Mundo cripto y también otros paises.
Con esos niveles de ganancia experimentados en diciembre lo pensaría dos veces el sistema financiero más ávido de dinero que es el chino. En cuanto a steem roporcionas información muy valiosa de sus desempeño reciente. Eso nos ayuda a comprender que estamos ante un buen negocio y qu debemos todos apoyar escuchando a personas como Ud que con su experticia puede bajar los nieles de anciedad que inflan calquier burbuja...
Des ayer estoy leyendo lo de la caída de don jones pero realmente es dificil comprender las consecuencias de esta caída de la economía real y su influencia en lo cripto..
Entendía yo que cuando la economúa real caia el cripto mundo crecía pero lo que ha pasado en estas últimas horas es lo contrario,, el bitcoin arrastró a los dos y es que según entiendo los principales accionista del dowjones tambien estan jugando en el mundo cript.... Gracias por publicar.....por lo bueno de tu escrito y con tu permiso voy a reestemear
It sure is getting hairy on the stock markets, it's spreading to the others on different continents too..
not yet not yet. It needs to be a bit worst.
Yeah, we are good, and I believe that Steem will recover soon and so will do all the market.
These are the times that makes us stronger :)
wow...wonderful post @dragosroua . i like your And Finally, The Bubble Bursted post. thanks for sharing the post.
A very interesting story thanks for sharing
let me undestand this
I agree with you, we are fine, this is a passenger, and it is part of the risk that is run, but the adaptation is inevitable, the cryptoactives are the future today
we are all good no doubt about it still going strongly :)
This is exactly me ^ ... and I'm okay with that. But I just accept that the idea situations I believe in aren't always possible so that makes it hurt less.
It was a great ride... so excited for the next bubble in 6 months or so~
Wait... what?
Haha... You got me!!
Very good point of view; sailing with stability in a big storm
Man, you can’t do that to us 😬😬😬😬. Apart of that, it is a great news that the cryptos are going up again
I am sure and very confident steem will definitely improve and interesting as it already exists