The new dip is just another opportunity to buy some cheap crypto. Nothing more.
So, visiting CoinMarketCap today is not a bright idea to start your day. Everything in the red. Or maybe it is?
Do you need more? I'm sure you don't.
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See , the funny thing about cryptocurrency holders is that the vast majority of them are neither interested in the blockchain technology nor willing to do any sort of research or educate themselves. I've reached the conclusion that most crypto holders nowadays are in for a quick profit. They 've probably heard stories about people becoming billionaires investing in Bitcoin and just thought they could do the same. But being successful in the cryptocurrency world requires two fundamental elements : knowledge and patience.
My news feed was once again full of fear and doubt. There's not even room for uncertainty anymore. Everybody keeps talking about crashes and bubbles, and I'm just sitting here, thinking to myself how the whole cryptocurrency market capitalization is more than five times bigger than it was on July 1st, and wondering how it is possible that everyone forgot about last year's explosion. Sometimes I just think we're a bit too spoilt by cryptos constantly exploding. This is the market guys, it has its ups and downs, relax.
I don't see anything to worry about. The entire cryptocurrency thing is still at its infancy stage. All bank currency in circulation equals approximately 2 quadrillion USD, while the cryptocurrency market capitalization is roughly 0,5 trillion USD at the moment. We 're talking about the beginning of a new chapter in global economic history and given the numbers mentioned above, I think it is safe to say that there's plenty of room for growth ahead. Exponential growth.
Furthermore, the blockchain technology is a huge breakthrough which can be applied in multiple different aspects of our society. Decentralization is undoubtedly the future, as cryptography can be used to solve numerous problems of nowadays, serve and provide true Democracy and guarantee freedom of information, which is an extension of freedom of speech and a fundamental human right recognized in international law.
So Why Do You Still Doubt Cryptocurrency?
If you're just an adventurer seeking quick profits and easy money, I 've got news for you: there's no such thing. You might have heard of people who made millions or billions but you haven't heard of their efforts and sacrifices. You only see the result; success. I can see all the sleepless nights of studying and long hours of decision-making behind their success. I can see lonely days and antisocial behaviour behind the computer screen. People who make a killing by investing in any sort of assets are definitely putting in a lot more work that random people working a 9 to 5. They become ghosts and burn their eyes digging the web, always looking for information, always trying to stay one step ahead in terms of information and knowledge. That is dedication and sacrifice and that's what pays off. If you're not successful, then you haven't been doing this long enough.
Persistence is key in order to succeed in anything. You need to be obsessed and believe in your dreams. The same principle applies on Steemit. You need to put in the work in order to start receiving rewards. You have to give in order to receive. Same goes with cryptos. If you don't believe in the potential of this market, then why are you holding cryptos in the first place? I do realize that it's still investment at the end of the day and, therefore, people will always worry about their investments. It's only reasonable if you worry about your funds, however panicking is a completely different story. You should do your own research instead and put yourself in a position where your knowledge and experience can beat your primal instincts. Fear is one of the main factors that shape the market, whether it is fear, uncertainty and doubt (FUD), or fear of missing out (FOMO), however panic will lead you to make wrong decisions. Panic is often reffered to as ''the disaster syndrome'', think about that.
I've always perceived such dips as great chances to buy cheap. Let them panic sell, I'm panic buying and panic HODLing. Big players know it's just another normal day for the market and that it has a bright future ahead. Only weak hands are selling during such times. That said, I personally believe that no crash will take place any time soon. The crypto market cap is too small to crash yet. From my humble point of view, we need to surpass 5 trillion USD in order to be facing an actual threat of a possible crash. It's still too early.
So don't waste your time! Sell some more! (sarcasm) There are many guys like me out there keeping funds aside for times like this and buying the heck out of everything. I've learned to enjoy and appreciate the red colour in the crypto business. It's like an opportunity to regain lost ground and buy more cheap crypto.
Everything mentioned above is my personal, humble point of view. What does that mean? It means you can make of it what you wish. I'm not suggesting anything at all. If you do want my advice though, then always invest less than you can afford to lose and never invest more than 10% of your funds in anything. Needless to say, you should always do your own research and trust your own gut feeling.
Thank you for your attention!
I wish you massive profits!
