A Crypto Noob's Thoughts: Yeah, The Market Still Sucks!

4년 전

Welcome to the 500th post today about how the crypto market sucks! We are definitely in the despair phase of crypto right now. If I even bring up the word crypto to my sister she pouts. I know we all miss the exciting times of December and we can't wait for this bear market to be over. I find myself pouting often these days too, lol.


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I even found myself watching some TA on YouTube today...which is something I don't even really believe in...but I just wanted some damn hope that this whole thing will turn around soon. To me its kind of like going to a psychic. You know its probably BS but you like to hear that everything is going to be ok.

Something that did give me a glimmer of hope though was a conversation I had with an acquaintance about Bitcoin. This person was talking to me about it because they know I have an interest in it but its clear they really don't know anything.

They asked me how much Bitcoin was at when I bought some for the first time and I told them $3900.

They then told me "Oh I wish I would have bought Bitcoin when it was $14, I would be a millionaire right now."

For some reason, this made me snap.

I said "No, you wouldn't be a millionaire if you had bought Bitcoin at $14!"
Them: "Yes I would because even now its at $7,000!"
Me: "It doesn't matter what its at now, you would have sold it years ago just like you sold everything you bought in December at ATH, because you panicked."
Them: Silence

Isn't that the truth though? I know we have all thought the same thing. We all wish we bought Bitcoin years ago. I even said that the first time I bought crypto in July. It's human nature to buy at all time highs due to fomo and then sell at the worst time at a loss.

I know just by that conversation that are there people waiting to get back in. Even if they will sell again instead of holding. haha.

I am bullish with cryptos. I still believe that they will change every sector of every industry. We are in a bear market right now but I don't believe it will last years like the last one. Do I know when it will end? No.

I feel the same way about Steemit. When I first started here STEEM was trading over $5, and SBD was double that or more. When I bought my first STEEM it was because I was facing bandwidth limits, and wanted to try to see if I added a little SP it would help.

I am very close to officially becoming a minnow. I have 35 SP left to go, and yet I don't have any more money to invest right now while the price sits at $1.50! (Damn you adulthood and it's responsibilities!) I can tell Steemit has really quieted down over the last couple weeks in comparison to when I started here at the end of January.

I can't really blame people either. We can't expect a platform that runs on crypto to be all sunshine and rainbows while the market is in the dumps.

Is there a point to my post today? Well, no...not really. I just wanted to check in and say keep holding everyone. There is a light at the end of the tunnel. We all chanted the "hodl" mantra for months before the crash, and now its time to remain strong and actually do what we all preached to everyone else.

So, whats up with all of you out there on Steemit? Anything new? I am always happy to read your comments below! Remember we need to keep Steemit going even when we are all sad about crypto! Steem on!

Emily

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Hey Emily solid post! Loved the honesty and while it may not be an exciting time for many I think it’s one of the best times at the moment! I got into crypto last year and bought before the surge and sold at the All time high to make some cash and pay for my holiday to Thailand next week and I wanted more crypto to make more money but I didn’t have cash to invest and it in as way to expensive to buy anything! Now that thing s have Became cheaper I’ve been buying alt coins all the way down increasing my position each month because a lot of weak hands have undervalued certain coins once we in a bull run again I’ll be cashing in and starting all over again

Cheap crypto is also going he o text time to get into things like faucet farming and mining and ofcozue Steemit

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Haha, yeah I started buying in July and I remember in December wishing for a crash so I could invest more....looks like my wish came true!

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Lol well if thats the case id say give me 2 or 3 more months to save up enough and get in on all the coins i want and then you can start wishing for the bull run again

No doubts Emily. This is just a downturn cycle, one that has been manufactured by bankers, their media puppets and government regulators. This will be the year institution money flows in openly. Go back and read the whitepapers of your holdings, research where they are at and remind yourself why you believe so strongly in their work. Smile knowing great things are coming to you because of your belief.

As you know I was recently bitten by the bug and stopped trading and became a Hodler, and my sadness comes from my not having more disposable income to buy up tons of the project I believe in. This is such a great time now in crypto for investors to stock up on the projects that will change everything.

Just hang in there, you will be the envy of all your friends who jumped out. They did not have the belief, you do. A great book I read years ago was titled,

"You Will See It When You Believe it" by Wayne Dyer

Keep on believing.

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Thanks @practicalthought! I think holding is best, glad you are a steady holder again :)

Keep up the dedication and it will pay off in the long run! Earn as much Steem and related assets now as it is very well positioned to do great given the evolving ecosystem and blockchain technology. If you can’t afford to buy more, just invest time in yourself to learn more about the technology and the platform. It will all pay off once we rebound.

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I hope you are right! I am very optimistic too :)

This reminded me of when people say if you would bought $500 worth of coke shares 1 million years ago you would be a multi millionaire today. Such BS!! You would have to went through all the recessions and wars. There's no way anybody would have held on from 1919 to today 😂😂😂. What I have found to be true is to do the opposite of what everybody else is doing. This is the time to push harder because everyone is falling back. I'm hoping that the market goes down further honestly. This gives me a chance to pick up a lot of coins because I'm buying them weekly. And if this bear market continues for over a year like it did years ago, that would be gravy on top!

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In crypto 10 days feels like 100 years, haha. Its hard to hold, but since I dont trade holding is my only option to stay sane. I promised myself that even if it all went to zero I would still hold. Almost all the people I got into crypto in December have sold even though I warned them not too. I would love to buy more STEEM right now..Now I just need some funds to buy some more at these low prices before it goes back up :)

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Bitcoin 2011 Bitcoin 2011.png
Bitcoin 2013 - mid 2015Bitcoin 2013 to mid 2015.png
Bitcoin 2017 to todayBitcoin 2017 to today.png
Im not into doing TA or anything but I do believe history repeats itself

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Hopefully the prices stay put or drop more so that you can get more SP. I'm about like you when it comes to the prices. If it goes to zero I'm still going to keep holding. I'm mentally prepared for the bear market to continue for 1-2 years. When I go back and look at the price history of Bitcoin, what is happening today looks exactly like what happened 2 times before in the past. The charts look identical.

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I am trying to be mentally prepared for a year long bear market....but ugh! I hope it doesnt take that long, haha. Yeah its really important to look at the big picture when it comes to crypto. We need to think years instead of days and weeks!

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Exactly! I think many were spoiled on the last bull run. In the long run no telling where cryptos will go!!

Hi @emmyem84!
Good to see you! :)

It's all the old game. Let's see how long we can hold our breath... lol...

That little conversation about buying bitcoin at $14 gave me chuckle because, we know the future right now that it has risen to $7000, but at that time we didn’t know and so it’s like the same as predicting the future back then.

If it goes up, it goes up. The market of cryptos is just like every other market in the world. It is fueled by human emotions and errors, to be good at it requires a level of psychology a trader needs to not only predict price, but people also. Because price represents what people believe in the currency.