EVERYBODY PANIC!!!!! or not...

in #steem6 years ago

So, it sucks out there. Crypto is down. Steem is down. Chicken little just knocked on my door and kicked me in my balls. This happens here. Crypto prices are either seriously manipulated, the pendulum of a free market can sway wildly and/or both.

If you've been able to earn some fiat over the last little while I'd encourage you to think of this as a fantastic sale. I'd like to say it's the sale of a lifetime, but honestly, I think we'll see ball breaking crypto prices again just over the next ATH. That's how it works. 2 massive steps forward. One massive step back. This is like the 8th cycle of this for crypto. Maybe this one is different, but probably not. If you have some cash handy this will likely make you rich later. If you don't it's likely going to cause a deep upset and likely panic. Keep that in mind when we reach the next ATH so you remember to cash some or a lot out!

The Crypto cycle seems to go back and forth between outlandish bullish eupohoria on the way up and then ball busting, life-destrying suicide inducing stress on the way down. Welcome to Crypto.

Food for thought

One thing I like to keep in mind as I watch my net worth drop is a few things. 1. I came here primarily to have a voice and later to build a home and a spread a mission. Any of the money that I've made here is gravy. The voice, home, and mission carry on. We're just reloading. Look around. The people still here are the ones to watch this coming year. They're the people supporting this place and keeping the lights on while the normies get roped into crypto 1 by 1.

While it's hard to consider it now a year from now when we're back at all time highs you won't care if the price hit 100, 1000, 3000, or 4000. Did you care that we started this last rally from like $120? No... well you won't care a year from now either. It's gonna go down. It may go down more. Crypto isn't dead. You can't kill it. 10 years from now through all these boom and bust cycles anything that can be on a blockchain will be. that's the future. Just gotta keep some healthy perspective now before you panic sell all your shit at the low and panic buy it all back at the highs!

  1. When does the bull market start? When the bear market is over. The recent capitulation is part of the cycle. Pretty soon you'll be calling anyone that buys into the next rally an idiot after you sold all your crypto... then you're wondering why it keeps going up, and then you're trying to cram all your life savings in right before it busts again. This is the cycle. There's lots of memes and images about it.

read this about the psychology of asset bubbles

Try not to panic and lose all your shit. Make informed decisions. If you didnt' think you could wait this out you should have sold before it had a chance to capitulate. If you didn't know then don't panic. Look at how these markets tend to function.

The track that btc is on even while we touch this low end of the support would put us at 70k btc by 2021. It's a shitty feeling now, but won't be forever. My main suggestion is DON'T PANIC! Make informed and conscious decisions. Don't just freak the fuck out. Consider what you need to survive and pay your bills

  1. Steem isn't dead. We still have 50k active community members all over the world. They're pretty sticky to this place. We've lost some weak hands and fools that only wanted money. The people that get that this is a life changing thing are still here. When this is over we'll have a host of new business and apps popping up, we have SMTs on the way that will let new businesses pool money and tap into our ecosystem. We have more rebuilding and some shit in front of us. But I'd urge you to stick tight. If you have some fiat around or get some for Christmas consider giving yourself the gift of Steem.

  2. Steem Monsters is a good fucking investment. So, I have watched basically all of my crypto assets get slammed, but one that's holding up extremely well is Steem Monsters cards. I'm grateful to the hardcore community that knows just how awesome this game is and will be. We'll be implementing some changes after Thanksgiving that are simple and make it 10x more fun than it already is. Tournaments are around the corner and we'll start giving out money on the daily and putting out some marketing for the game. As you're thinking about how to get back into the market, or how to HODL through it I'd strongly recommend getting monsters. You can thank me later.

Anyway, it's hard to keep your head about you when everyone else is losing theirs. Make calm decisions. This too shall pass and if you play your cards right there's some great shit on the other side for you!

Disclaimer: I don't make financial decisions for you. You are responsible. This isn't financial advice as I don't know you or your financial situation. I can't tell if selling all of your belongings to purchase Steem Monsters cards is right for you. You have to do your own due diligence. This is for entertainment and my own edification and hopefully it's food for thought to consider along with all the other sentiments that are out there.

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Its Black Friday for crypto :)

Weak hands are leaving, financial instruments are doing their job - liquidating those who bet on the short side of the fence.

I hope everyone reads this right now.

I love how you’re giving 10 percent back in Steem power to those who buy booster packs! . This will alllow new users enough RCs to play a bit and also incentive to buy more booster packs. Great work you guys are doing!

This right here; is a wealth transfer event.
Wealth is moving from those who don't understand what's being built here; to those who do, and each of us gets to decide which category to be in. It'll be too late later. Choose now.

Me too. ..No point in leaving now...

And you're soon to be in the positive too - 11 to - 2 since you wrote a post about it :-D ... perhaps your rep is the barometer (stranger things have happened). Let's see where Steem and you are in Jan!

Thanks @barge, it should be easier to climb up from here as the gradient gets less steep. I am hoping to hit the positive reputation numbers soon and then I can start doing videos and making longer blogs again.

I have some great plans, but it takes time to bring something to fruition. I am really excited about @steemclub-uk and the work @pennsif is doing for UK steemians.

If you go to a great restaurant, you've done your research, checked the reviews, studied the menu, you don't run out in tears if the food takes a bit longer to arrive.

My view is the fundamentals are sound, the market sentiment is mostly noise.

I am currently working to free up more time to invest in my crypto projects.

Bear or bull market, the actions needed to succeed are the same. Work, work and work.

I agree Kabir, market sentiment is noise and crypto and blockchains are here to stay, I've never really doubted that since I bought into the whole thing.

Frankly I dunno about the work work work thing - not for me anyway, success for me is not a result of effort, sweat and tears or forcing myself to do shit. Just speaking for me mind! Abundance and any notion of monetary 'success' are built into the system it seems. When crypto rockets, even a small holding of 500 SP will be a large amount IMO.

LOL at the restaurant analogy, very apt.

I've just dipped a toe in the steemclub-uk, keeping an eye and maybe see you at a meetup some day 🔆

Spending 230 steem on steem monster cards at 0.6 cent was the best decision I’ve ever made lol

Extremely addicted to your game! Can’t wait for the update!

Posted using Partiko iOS

everything that goes up has to go down. in my opinion its kind of the same thing that happened with the internet bubble in 2001. But we hope it stops now.

It's not going to stop any time soon... until the market matures and gets so much volume that whales can't manipulate it... only then will it settle... by which point the market cap might need to be at a trillion dollars.

Ya, a little similar. I’ve heard The dollar vigilante make that comparison several times

Yes, yes and yes. I have lights on, candles on, torches on, plus it's summer in Australia so it's pretty fucking bright. I'm kinda digging the drop. Feels like stuff is happening. And no way is this platflorm going anywhere. I'm also loving reading these informed, positive and detailed posts from the dolphins to be honest - you've got the most experience here so I'm keen to hear what you say, and you keep poppoing up in my feed with well written responses to what's going on. Yeah I don't see this platform going anywhere, even when things got a bit sad there post HF, they're not anymore and I just see communities BUILDING.

🙌🏼🙌🏼🙌🏼Let’s build baby build 🌿💎💚👍🏼

yeah i'm with you two, lets build away xxxxx

"Epic Answer On The Way", When does the bull market start? When the bear market is over. Yes, Blockchain Technology is hear to stay for the long and we have to move forward with the flow. And most importantly we should not have expectations inturn we have to create, same through Cryptocurrency and Blockchain Technology we are not expecting, inturn we are creating our reality.

Wishing you an great day and stay blessed. 🙂

Very good read! The basic rules of investing is not to panic and fall into euphoria. Money is made when there is blood on the streets. As much as we hope that price will keep climbing, market cycles still happen.

The crash is not just on crypto, it is also found in stocks. The key question to ask is whether there's any change to the fundamentals? I think, technology and adoption wise, we are in a much better position than before. So why quit now when things are fundamentally getting better?

Posted using Steeve