I see a lot of people freaking out about the price of Bitcoin and other cryptocurrencies, and why wouldn’t they, looking at the redness of coinmarketcap can be a scary feeling.
However, I wanted to put things into perspective and give a word of advice that can hopefully help you remain calm:
- This time last year the price of Bitcoin was 737 USD, which means we are still 1662% up!
- Nothing goes up forever, every asset must go down from time to time, its call profit taking and its healthy.
- Bitcoin is still a scarce asset; price will tend to go up in the long term.
- People spend a lot of money during the holidays, which means they need to sell their cryptocurrencies.
- Everybody wants to buy the dip, but they tend to panic when the dip finally arrives. In other words, THIS IS YOUR TIME TO BUY!
But most importantly, if you believe in the technology behind cryptocurrencies and what it can do to change the world, the price is irrelevant.
Now, let’s have some fun and guess what the bottom will be? I am going with 10.500k
This is exactly what I have in mind , positivity . Buy buy buy should be right now to all of the red marks . What goes up always comes down . LTC was just $350 yesterday and came down about $150. Steem itself went half in price . The whole market is down, but we shouldn’t panic , it will eventually rise again
if it breaks 10k we can see 6 :)
@chitty - Sir you provided us a good advise... We should not be panic... This is the gift comes from Santa... Christmas sales of crypto... That's how I feel it...
Merry Christmas Sir...
+W+ [UpVoted & ReSteemed]
Up and downs are normal behaviour in any kind of market we just have to keep some patience and it will back to normal.
bdw nicely explained ... @chitty
Thanks, I guess it will be 10K,.. for sure not 10.500K ;-)
And YES WE HAVE TO BUY !!! this is the moment.
Indeed - a wise man once gave me the same advice. Buy into the crashes. If you believe in the underlying tech it'll swell again. Now I don't panic when the board's red. I salivate 😂
Thanks for sharing. The chart is looking like the consolidation is coming to an end. Could be a good time to pick some up. Good luck!
sound words from a veteran. I see it as a Pre Christmas Sale, buy one - get one free
This was expected, I don't think we'll see the price go lower than 10,000 though. I'm thinking about picking up some bitshares in the dip!
@chitty,
Dude in your last article, you talked about SBD and you talked about the PEG! AT that day I decided to convert my SBD to STEEM! Now I could understand what you said at that day and by following what you said, I made a nice move there!
So as you said, yeah BTC can't climb in that way forever! Now it's X'mas Sale of BTC! Better collect and get ready for the 2018!
Thanks for sharing your great view about current market prices! Really appreciate it!
Cheers~
Thank you for reading me bro, I am glad you made some profits selling SBDs. But remeber that is better to sell SBDs on exchanges and not convert them via Steemit.com, that way you get more, much more.
@chitty,
Thanks for the advice bro, I think you are talking about Bittrex! Yeah I am using it too!
Cheers~
Yes, one like Bittrex.. good to know!
@chitty,
Really appreciate your response! Thank you!
Cheers~
I think the best thing you said is how low Bitcoin was last year. Even if it drops to $10,000 it is still an incredible jump from >quote
HODL and buy low
Keep Calm & BUY THE DIP!
The way I see it...
If you were planning on making QUICK profit off cryptos, your panicking right now.
If you were planning on making profit years from now, your enjoying the sale right now.
If you were investing in the technology because you believe in it and don't care about the fiat price, your laughing right now.
While we agree there's a buy-the-dip opportunity, we think it's not today and here's our reasoning which you might find interesting...
https://steemit.com/cryptocurrency/@harpooninvestor/buy-the-dip-not-yet-here-s-why
Good post,,
Very informative and useful post.i have a lot of learn trading.thanks for sharing.
upvoted and resteem
It's crazy, crypto market is so volatile I wouldn't be surprised if we hear someday in news that a person died of heart attack after huge raise or fall of bitcoin's price.
I did not expect litecoin to go down so much that I invested additional cash in it. Now looks like losing money. I think I can only hold if not use my litecoin to buy steem instead at least can use steem power to earn and upvote.
Buy the crash!
Exactly. f you are long term investor and you believe in this asset you should not panic. I guess that we already hit the bottom, I am also going whit 10.5k:).
Funny story: my colleagues at work just STARTED to buy some Bitcoin Cash and Bitcoins and dabble into it last week, while I have been into it for more than a year thanks to Steemit - and had remained completely silent about it. They felt pretty smug after seeing Bitcoin Cash soar last week. You should see their face this morning ^^
you deserve my 100% upvote.
Keep calm and HOLD ALWAYS
When you look at the price charts on the front page of CoinMarketCap, most altcoins are flat or rising for the past 7 days. This is not even a big correction yet.
Yes...1000% agree with U sir @chitty
Such a useful article to me...I'm new comer to crypto world and steemit platform...I'm always try learn something with every posts...
I think that is good time for buy some coins...and hold increase prise...
I realy know and trust btc and steem can change my future life...
I'm become ur fan...and I'm always try followed ur blog everyday...bcz...I'm realy know I can learn something with ur posts about crypto...
Thanks sir..
Good luck....
which altcoin is best at the moment ...tell me please..
I wish to take some position in altcoins
You are very very true dear @chitty ...being calm and having patience is virtue during such moments.
Thanks
This is really necessary...
Those who are emotionally attached should stay away during such hours...
Being cool and calm is the ultimate way to resist such situations.
Thanks @chitty ...steem on and stay blissful...
Time to invest into Steem, that is all I am going to say to all Steemians who are trading with other coins/tokens.
The sooner Steem and SBD get onto the USD market the better for all of us!
Totally agree with you .this time is for buying crypto not for panic.this can be a great opportunity for you because of very less/discounted price of currencies, if you have missed las time.it's a great time to go with your favourite crypto.
By the way i think bitcoin bottom will be $10700-$11000 . Let's see what happen.
it's going back up pretty quick too ;)
Thanks for sharing
I just say -Merry Christmas- :D !