The death of crypto

작년

Hello people

bitmoji-20180408101735.png

Its no news that the crypto market has been bad this year, we have been down by large margins, many altcoins having dropped as much as 80-90% from their all time high.

BTC still manages to stay above its 5800 low it experienced around June/july, but altcoins have continued to dip.

A few memebers of @africaunchained as well as some newbies have been asking me why the market is so down, what should they do, is this the end of crypto and so many questions.

And I understand, those who got into crypto around 2017 would be wondering what is going on.

Many new crypto enthusiasts are not knowledgeable in the way conventional markets work, whether forex, stock, real estate and the likes.

What many experienced in 2017 was a rather unusual bull market that meant almost anything you invested would pull a profit.

But the world does not work that way

No commodity continues to rise forever without experiencing a correction of some sort.

It happened with the dotcom bubble of the 2000s and real estate of the 2007-2008 era in America.

One thing I love about bubbles is that as long as it is backed by a technological asset, the commodity that experienced the bubble effect will continue to exist.

I have said it several times, technology and ideas canmot easily be destroyed.

When I think of all the infrastructures, companies, collaborations that crypto has brought, I laugh at the ides that crypto will cease to exist.

(maybe the current form of crypto will cease, but this tech is here to stay)

Funny, cause I was once one of those thst thought crypto will die for good.
bitmoji-20180810013818.png

Blockchain tech is a revolutionary and disruptive tech that is being implemented in several large companies.

The idea that crypto is a way to make massive gains is dying (and thats good!).

I tell people, rather than cry that your money is gone, better yet, utilize the tools of the market, listen to the news, when others see a dying product, you try to see an opportunity for growth abd business.

The general idea of crypto is to lambo..... It shows how people approach it

Never place all your cash into crypto, diversification is a must, as with all aspects of life.

What I see is people throwing large amounts of cash into crypto, thinking its a ponzi or scheme designed to double your money.

Those who made extra from crypto don't help the matter too, flaunting the cash made from proceeds of crypto.

Perhaps this is due to the fact that cryptos are very volatile assets, and this volatility is what draws young people into it...... The risk is high, but so is the reward and the reward can be made in a short amount of time, unlike other traditional assets.

At the end of the day, history is bound to repeat itself.

Cryptos will experience a rise again, just like any other asset in the world.

Many see crypto as from 2017, when in reality, crypto has existed for nearly 10 years.

I know for a fact that a large number of people will abandon crypto with this continous bear market, many from 2017.

The best bet is to have a long term plan in this game.

Nothing worth doing starts up at once, the internet gradually came into existence and today everyone uses it.

Smartphones were once considered clunky and unattractive, yet today we have better phones than ever and many never knew a transition was going on.

Blockchain & crypto will continue to evolve, and just like those companies that saw the potential in the internet and smartphones and capitalized on that to be where they are today, if you know what you're doing and you focus on blockchain tech, bring out a viable product, the next 10 years would speak volumes of your success.

Thanks


Footer_destinysaid.png

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
STEEMKR.COM IS SPONSORED BY
ADVERTISEMENT
Sort Order:  trending

im scared but im a little bit masochist, haha ;p When all is crashing im buying more. Great content my friend...!!

Well said @destinysaid I'm ready more dips I see to be associated with back to school activities. Lambo will still come someday I believe!

Posted using Partiko Android

This information you have Is needed for those who are currently depressed about the situation of cryptos. To cheer them up, me am fine.

·

Lol, we are all fine, only that ive seen increasingly hot arguments about crypto in several groups, people with pent up frustration lashing out.

·
·

Yeah I understand.

Alot of Fud in groups, thanks for sharing this, people need to understand that this is not a ponzi scheme.

·

Definitely, im haoly going along with the ride, lets see where it ends up.

Frankly, Ill b e glad if they all leave crypto, we dont need bad eggs here.

We might be in for a long period of down time and dips

There was life before the bull killed the bear, there will always be life when the bear takes revenge. Literarily speaking, of course.

·

Of caused mehn.

Whatever haooens, we'll all still be here.

Just keep some funds, thats what I always te people

Am new to crypto tho, it has not been roses as i was told but i think can fit in to it. Thanks for the motivation,just like 2017 lambo time is coming this year. #crypto to the moon, thanks @destinysaid

·

I wouldn't hold my breath tho, 2017 was a bull markrt, we could very well keep going up n down like this for the next 2 years.

Markets have boom and burst cycles.

As long as a technology or a revolutionary idea is backing a market, it will oscillate

True @destinysaid. Crypto is truly a game that's played with long term focus.