Cryptos are down again

in cryptocurrency •  3 months ago

There is no room for argument on the fact this week has been really rough for those who participate in cryptocurrencies. Truth is that all of us, possibly with no exceptions, are constantly having our faith in the movement tested by the markets that seem to make less sense every single day.




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We try to rationalize events after the fact to no avail. Why our favorite coin dropped in valuation, why a certain analyst was wrong. All the questions that will never have an answer that will make us feel good or satisfied. In my opinion these market shakeups are part of a necessary cycle. Not because of some sort of universal plan, but simply because there are a lot of people who get into the markets believing naively that cryptocurrencies are just about easy money. This of course, is very far from the truth.

Technology & Valuation


We tend to conflate the two, and that is part of why we can't make heads or tails of anything. The idea is that because we believe that a certain currency has the right technology and philosophy, then without a doubt investors would agree with our thoughts on the matter and take the valuation to new heights.

It does make sense to analyze the value proposition of cryptocurrencies of course. It's obvious that if there is no actual use case for one, the market itself will simply use it and dump it. Sadly, that is accurate when describing hundreds if not thousands of cryptocurrencies that are currently part of the market, but fortunately that is not the case of Steem.

In the long run valuation will be directly affected by the technology if and possibly only if, the project itself is successfully launched to a wider audience. What this means to me is that early adopters of the Steem cryptocurrency are in favorable position that is not enjoyed by many other projects out there.

User Base


I've read plenty of times that Steem has a user retention problem. In the somewhat short time I've been participating of Steem I've noticed this myself, but at the same time it's also important to remember an important fact. Regardless of the user retention challenges of Steem, this blockchain is still the busiest blockchain on the cryptocurrency landscape.


Screen Shot 2018-06-22 at 10.28.12 PM.png

This continues to be true even on days of painful red numbers like today. This should allow Steem users to realize that regardless of how ugly the market might seem, the cryptocurrency of Steem is less likely to fail than many other ones, including those that have a lot more name recognition.

What to do?


In my opinion, today is not a good day to be selling anything. Its one of those days we need to step back from the computer, write a post, read a book, call a friend, do something other than staring at the coinmarketcap. I can promise you that staring at the valuation of cryptocurrencies won't make them go back up.

I'm also of the idea that this shakeup is probably announcing a big rally. I'm willing to be very soon we will be thinking back about the day Bitcoin went under 6k and Steem touched a dollar wondering how silly we were being all scared about those prices, and not recognizing the opportunity.

So, I'm going to follow my own advice, step back, spend some time with some friends and trust that things are about to turn around soon.

Wishing you all a beautiful Weekend

@chbartist

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End of Q3 is too soon. End of Q4 maybe, but I think we shall see the bull run in 2019, not this year.

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BTC is only down because Mt Gox is selling opff dumping all their BTC, their almost done then no mroe BTC to dump, BTC will start rallying july august, and then 60K BTC 20$ Steem SMts and HF20 soon

The Mt Gox sell off from japan was the ONLY thing pushing btc down! they were literally the bogdanoffs!

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People are relaxed since last 9-10 months but the markets are going down . as the market comes up twice in a year that is april month and october month.
So book your position accordingly.
Also in India there is going to be a decision on Bitcoin trading from the authorities .
Follow me on : rohit1306

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Yes Bro, we are here only for profit not for Loss.... So relax and enjoy

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@crypto2crypto can you explain how it can be possible. Every time from january we analays 3 to 4 times that bitcoin set platform now and ready to fly from here but again bears enter again and again and all they knew algorithm of whales that's why the don't allow to grow bitcoin high.

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Do you think now there is no craze of cryptos among people?

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bad magic

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Well Said!! You got a minute? CLICK on this link, enter your e-mail, and then watch the video!! www.winwithroberthollis.com/pjcswart

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we are sitting back and relaxing from last 6 months

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@crypto2crypto Is this market same as shares market?

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price changes within a week. December is too long. market will come back soon

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sir at which point market is going to be stable.

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The market is full of variations. So, it is rising and falling all the time. But the overall arch is more long-term and investment can take many years to profit from.

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Market Changes Drastically. Only a government regulations impact hugely to the market. Technical indicator may not work much as the crypto market still immature.

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Revolution is rising all around the world and that is destroying the goals of globalism.

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is it true

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He is not sure he just give their opinion...

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@crypto2crypto do you think that Bitcoin will Break it's all time high by the end of this year?

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Maybe not this year.

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ya i think next year in 2019....same as year 2015

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according to me bitcoin will break all time highest in 2019 mid

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dont it in another way.....but my inner feeling is saying that it will not cross its all time high this year ......it may be possible in next year around jan end or feb starting.....because all are waiting for Dec...hahaahha

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@zaraanwar12 can bitcoin break all the high records at the end this year? what do you think

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I would say that it definitely could by this time next year. Bitcoin had a temporary set back, but I would say 6 months is a little soon. A year though, I could definitely see occurring.

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ya of course crypto ia growing

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We may have to wait many years, but it can rise up again.

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I don't think it will take many years. By this time next year, I estimate Bitcoin will be valued higher than it was before the South Korea hack on Coinrail. I wrote a blog on it and there were estimates of this being temporary.

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I hope Bitcoin rises soon but be prepared for anything.

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Sure, cryptos are going to grow up, slowly but surely! it took years maybe, Dont Sell, Cheers from Mexico

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Righty said all of them holding for december boom then would be the right time for taking out the money

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possible crypto ll go up in 2 month?

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I love magic. Buy in when Bitcoin is down. Buy low, sell high.

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hahaahh.......its not as easy as you are saying

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But it does not hurt to try.

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in my opinion, forget new ath or even 15K in this year

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@crypto2crypto really but this time bitcoin rate is very down I don't think any magic works this time..

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price prediction for 2months bitcoin?

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i think that in wrong run crypto will rise high

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let's hope for the best.I strongly believe that the crypto market will rise again. In India we are still to get a response from the supreme court of india till 28th july 2018......the decision is pending and we all are hoping for the best .

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Let me correct you, the Apex court is agree to hear a petition on 3rd of july too.

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that correct my friend, it´s a matter of time

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yes better to hold it for long run ...

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We Sure Will!! Well Said!! You got a minute? CLICK on this link, enter your e-mail, and then watch the video!! www.winwithroberthollis.com/pjcswart

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DO SOMTHING ETC
PLZ VISIT MY STEEMIT PAGE

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Right, i agree with you.

Hey I would like to personally invite you to use our bidding bot. We are a Young bidbot and with support we will be growing soon.

If anyone would like to delegate Steem power we pay out 100% of profits daily.

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@weupvote can you Just tell me what I have to do?

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Waiting! If you have money, buy steem or bitcoin or another crypto. If you don't have money don't sell your steem now. Just wait! All the best!

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@chbartist thank so much for your valuable advice, I'll keep that in mind. I hope you will help me in future as well. I upvote, follow and comment and expecting the same in return.. TOGETHER WE CAN.

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What is young's Bitcoin with support

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what is the meaning of " young's Bitcoin " ?

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I fixed the typo.

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would you like to share something about your bidding bot ? please share we are waiting for your response

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Well we are a newer bot, and are hoping to gather some attention. We upvote content every 2.4hrs and will soon be adding a resteems for content we really enjoy.

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Cryptos are down yes yessssssssssssssssssssssssss

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what is a reesan bitcoin down

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I am interested but don't know how to participate, help!

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Hi were you looking to recieve a upvote or trying to delegate?

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Honestly I don't really understand either very well. I just need to better utilize my steem power and am open to suggestions.

This is the best opportunity for someone that still didn't have a bag full of Steem. Start posting and also earn Steem today. When people get frustrated they are keeping away from here and I can say the reward pool is much larger allocation for someone who is here. The piece of the cake are getting larger cause people are turning it down because of frustration. Treat this as golden opportunity and start earning or buying more.

Very helpful post

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"Be fearful when others are greedy, Be greedy when others are fearful." (Intelligent Investor)
It's term to get more profit to the invest
@sems41 Calm down !!!

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That's not from the Intelligent Investor. That's from Warren Buffett (who is not the author; Benjamin Graham is the author).

If one wants an idea to succeed, they should focus their effort on making sure the idea lasts and stands out in the marketplace of ideas. Focusing on price is meaningless as prices constantly change. Visions don't.

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Or in this case be a fool for the love placed in your hearts for true justice ⚖ and leave the horse and rider to round up the vain ones who think we are playing around with a monetary system. WE THE PEEPS 😇ARE THE CURRENT👁👀🙏🏽✌🏿️👈🏿😍😘😎🌺♒️ SEE!

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Thank you Beloved! "NOBODY" is gonna have all the doubters forget to call their brokkkerz😜🤓 This lil piggie stayed HOM€ Style" as in homefries🔥 🍟🔫💣🚀 It's PAY THE PIPER TIME. 🎺🍯🍶

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Steem dollar can beat the bitcoin and all coin one day

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The Son of Man will destroy every idol by his royal appearance alone. Awesome sauce! And he shall supply our needs by His riches in glory! Have a supreme dae! Count on Him!

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Exactly hard time for us who do short term trading from..........we need to b patient....for HODL no need to be worry but in opinion they are little worried too

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So are the Astrologers! YHWH is not mocked! "Whatsoever a man soweth, that shall he also reap", is considered to be a lesson against making idols to war$hip! Every knee will bow and tongue confess His mighty name Yah/Yahoshua H!

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Exactly hard time for us who do short term trading from..........we need to b patient....for HODL no need to be worry but in opinion they are little worried too

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Agreed - good time to buy!

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Markets just can't catch a break recently...

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i agree with you, its time to go on world tour and see crypto charts after 6 months.

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Yes... because of some country banning Bitcoin, exchanges and a mining farm and a negative news about bitcoin all market has gone down and people were in fear...
But I know Bitcoin and ETH and Steem all other coins again repeat the history as like 2017
@moneyman5

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its time to hold hardly because bitcoin is setting platform from here.

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This is a new era. Bitcoin is not following last 5 years chart.

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According to how the system cryto currencies works, we cannot impose the price of any crypto currency. We may still have negative impact in reducing the price by not panicking, not using it and not investing.

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How i earned from steemit

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you say almost correct.

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It will come back any time.
This is best time for investment
do not take it as negative thinking .
Am i right ??
then upvote me

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For sure it ll go up again in upcoming future.But what about its regulation ? its a Big question for us in India.

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Also a big question for us in Pakistan.

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yes for sure @rawalien what u think how much time will it take to bounce back

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i think end of this year

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Every buy in any dip is always a good trade for long therm and sell again when you feel comfortable. We are still at the beginning of the real crypto future. Better be ready before is too late is my advice ;)

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Exactly hard time for us who do short term trading from..........we need to b patient....for HODL no need to be worry but in opinion they are little worried too

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Exactly hard time for us who do short term trading from..........we need to b patient....for HODL no need to be worry but in opinion they are little worried too

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last 3 weak market went down day by day......

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have faith in this market bro

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... but its also been a week month and year that has made it cheaper for me to stock up on more btc.

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i think the future is bright and it will rise high soon

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Well, tough times are always to test our faith, and believe me there is bright side to it always.

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Truth be told, just moved ALL my LTC to Steem today. Let's see how this plays out. I'm game.

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Guess is best time for one to invest

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@ultimus

Yahh, but do u think ATH for bitcoin is possible this year?

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@ultimus or may be it will never break all time high again, what do you think?

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only week

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@ultimus bro this year is haven't finished yet, I think Bitcoin will touch it's all time high by the end of year. What you think, do share yours views.

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We are learning patience! 🤗

This is good time to buy bitcoin

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It's definitely looking pretty good rn

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Yes now or I think is good idea to wait until summer/holiday finish.

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Exactly hard time for us who do short term trading from..........we need to b patient....for HODL no need to be worry but in opinion they are little worried too

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yes good time buy bitcoin

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@atomcollector @chbartist @mgsc India is facing issues regarding crypto regulation since a long time, our present govenment talks about making digital India on one hand while on the other hand they talk about banning crypto here. I believe that if they ban crypto then this decision will push India 10years back in terms of digitalization.

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I want to think so, @meno!!

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But in India we are waiting for RBI News. All the crypto holders are waiting for 7th July. The last day for Indian banks transactions with Indian Exchanges. & on 20 July second hearing is with RBI final statement on regulation. Present govt is with the blockchain technology... Lets see

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hope so india will in the favour of cryptocurrency and regulate in
india

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wait and hold

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You are wrong. Wait and Use

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@phoneinf i am not wrong. It's time to hold. It can give a great profit from this!

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yes true! @meno what's your suggestion for small investors who have invested recently and now they r in loss,what should they do?

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it does not feel good, but you are only in a loss if you sell... just keep on posting, keep on building your account and practice patience.. there is nothing else to do at the moment.

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Agreed, last man standing with Tim Allen.

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@meno ...!!! Do you think btc price will reach 1 million usd as per john macafee prediction till 2020? If so then I will definitely hodl in long term no matter what the market sentiment.... I think you are absolutely right ..its a waiting game...

Thank you @meno

Keep posting..and clear my doubts

I feel like I'm gonna cry, @chbartist. I think I've made a lot of effort and the profits are small. What can we do if the steeem decreases? There are many who try to do the work, but see no rewards. I feel like we're in a trap. A hug

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But in India we are waiting for RBI News. All the crypto holders are waiting for 7th July. The last day for Indian banks transactions with Indian Exchanges. & on 20 July second hearing is with RBI final statement on regulation. Present govt is with the blockchain technology... Lets see (y)

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yes but present government also insert their rules and regulations EVERYWHERE from where they r not getting benefit as tax

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dont worry my dear friend its time for correction in crypto, just patients for a mmonth and see we will see again a hipe on crypto

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Yes; It's quite difficult to get started.

Especially at first, while building, it can be hard to pour your soul and then see it get .01 over days...

It doesn't help watching the value earned just waste away either. I can understand why so many give up.

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@nancybriti. this platform takes a time
wait for a sometime
you will be also rewarded with huge profit.

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Well Said!! You got a minute? CLICK on this link, enter your e-mail, and then watch the video!! www.winwithroberthollis.com/pjcswart

Your point of view is good ..
The most important advice is not to get angry
Great post from you, well done
Thanks for sharing..

i don't even know what to believe anymore.

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just have to be patient... markets reward the patient

Comparison.jpg
CHECK IT OUT REPLICATION OF 2015 IN 2018

Hi @chbartist! This is very useful!. I have Resteem this post.

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yes @chbartist this post is really helpfull

Here is a not so simple solution for all of the emotional swings caused by markets... Try not checking any prices or reading any crypto information for a few weeks (unless you are planning on buying more and can embrace downtrends), you'll feel a whole lot better! It's been a great few week cleanse for myself so far. Instead of letting people/entities on top pull your strings and mess with your emotions, put your energy elsewhere and let go of the attachment to these digital prices. It's obvious that this market is just as rigged as any other market and that will never stop, and we haven't seen anything yet.

Think about it...why is it necessary to look at a trading price everyday anyways? There's much more to see in life. You'll quickly discover if you are addicted to crypto or not by trying a few week cleanse. This may be harder than quitting drugs for most peeps, since it actually is one. (pick a number of days and stick to it) Start small if need be and grow the cleanse days from there as you accomplish the smaller days.

I'm hoping to see a big rally as well. Just biding my time here. I'm sure we'll see a nice pump before the year is out.

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but i think it will happen after august 2018

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Hard to say, but we live in hope.

importent information tnx brother

This is the perfect time to buy btc and soon surely it will rise again :)

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People said the exact same when BTC fell to 16k.

I feel like the same. Crypo market will bounce back again and we'll see bitcoin price $10k and so of the altcoins.
However, this market will always remain volatile. Rich people systematically pump money on some crypto and when the price rises to its peak, then they began selling off. They again go in search of another asset and carry on this procedure. They are earning huge profit but a common investor founds himself in a loss. Someone's profit is equal to some others' loss. This is simple.
This won't stop till cryptos replace fiat.

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I see a bright future ahead and current low market is best time to invest irrelevant to government rules. In simple word let me tell you that every one across the globe knows that Smoking/Tobacco is dangerous and cause only harm no good but still Governments don’t put ban on it. They simply put a label of risk involved on it and with each passing budget they always each time put more tax as a result Cigarette price increased each time.

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Well Said!! You got a minute? CLICK on this link, enter your e-mail, and then watch the video!! www.winwithroberthollis.com/pjcswart

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But in India we are waiting for RBI News. All the crypto holders are waiting for 7th July. The last day for Indian banks transactions with Indian Exchanges. & on 20 July second hearing is with RBI final statement on regulation. Present govt is with the blockchain technology... Lets see

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Yes; until crypto systems are designed to preclude the possibility of these pump and dump tactics, they will continue to be sucked on by the vampires.

it will really go up my friend. Wait for some time. There will be a sudden boom again. Bitcoin will have a wonderful future like before it was . But only problem is that some panic creaters force people to sell it

It's largely because of what Bitcoin is doing, just look at the Steem price vs Bitcoin as well as Bitcoin vs USD and there is a strong correlation. Not all that much volume in STEEM vs big selloff in BTC. I actually predicted that BTC will most likely flatten out at around 5-6k USD, didn't know if that was actually going to happen lol. But yeah I wouldn't be surprised if it fizzles out to about 5000 USD over the next however long, before the next phase in Bitcoin shenanigans.

Sure would be nice though to have a consistent STEEM price for once, like is it too much to ask for it to stand still for a month and not jump around like crazy? It's annoying that it affects payouts, frankly the payouts should be fixed at the point of vote so that you don't get some big loss because the market fell on its face over the week after the vote. Does anyone know how the payout price correlates to the STEEM price? I know how to look it up in the upvote calculator, but I don't know how to check STEEM USD price vs payout per SP, know what I mean?

Market manipulation is the main thing behind many of the ups and downs. Few of the people are having large percentage of the crypto value in the market and those people together are manipulating the market.

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it's been more down than up lately, depressing

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I really think individual market manipulation can effect the market on a short term basis but the way the market moves is really from crowd psychology. I guess you can say real market manipulation is from everyone being manipulated from all forces around them regarding whether they should buy or sell...not from a couple of whales or a illuminate type of group pumping and dumping on the larger scale.

That's the best you can do now. as you say, meet good friends and have good conversations. Sometimes you do that too rarely

Everything that has to happen will happen and in the end we can see that we worry too much, the best thing as you say is to stop along the way, to make the best decisions. In the case of you I think it is important to reduce stress as much as possible and in our hope that this boat will return again while we continue studying and learning from this intricate world. Greetings.

hay que esperar un poco que sucederá, es posible solo sea temporal y las criptomonedas repuntaran una vez más su valor.

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Creo que el futuro financiero del planeta se dirige hacia las criptomonedas, es por ello que no debe preocuparnos lo fluctuante de su valor, al final del día debemos apegarnos más a ella , pues de esta manera estaremos invirtiendo el la economía del futuro cercano.

This is a very helpful post @chbartist. Your words gives me hope and optimistism about the market. Like you said,

In my opinion these market shakeups are part of a necessary cycle.

I totally believe and agree with you. It would be silly predicting value based on technological advantages. But I believe with the utilized STEEM currency, we can't despair. I'm taking your advice: enjoy my family, friends, and pick up a nice book. I'm already doing that anyway.

I hope you had a good night last night and I wish you a lovely blossoming weekend ❤

Totally right @chbartist , maybe today is the day that we should stay away from selling option. And i want to add that blockchain is an ultimate reality of new world and "rise" and "fall" are only words.

One of the main reason is that people in india are selling there coins because of RBI not supporting crypto after july 5.... Untill the final verdict comes out by the end of july... Crypto trading will be non functional...hope for the postive verdict

At the end of this year i can assure that bitcoin will rise above 15k ..And present is the right time to make investment in bitcoin as it provide huge benifit in future.
U will probably get a benifit of 2times or even more

Don't know for how we have to wait for bull run.
It's need real patience!

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a couple months at the most I reckon

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It's nearly 6 to 7 months we have been waiting

The bears are over the market this year. Come back 1 year later for incredible gains! Take care!

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Nobody knows. Time has to tell the answer.

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I do know. Time won't be on your side, you'll find out late what trend you're into.

When I feel like to sell, I'm buying.