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!
- 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
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.
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.