Buy when there's blood in the streets

If the old saying's are true " Buy when there's blood on the streets" and “Be Fearful When Others Are Greedy and Greedy When Others Are Fearful” than shouldn't we be buying right now? Bitcoin dropped from approx $19700 in December to a low of $7700 yesterday. After seeing one after another negative article from the mainstream media and reading all the fud on every forum, I think we can agree that there is blood in the streets! Sure, it might fall a bit further but it has so much more upside potential that the risk of waiting for a further decline to buy seems ridiculous to me. How much more of a drop do investors want to feel good about buying up all these cheap bitcoin?

https://media.giphy.com/media/xThtabOFyKRt280nvy/giphy.gif

Here are the top bitcoin news results on google today, the fud is incredible!

https://steemitimages.com/DQmTzY2TrC2BCSimwWa6nzH2fjghzrjKoLHePz8iJc6xtPp/Untitledhh.png

Below are some of the recent reason's why bitcoin is falling

Concerns of bitfinex's Tether manipulation has been brewing for weeks.
Facebook bans ICO ads to prevent it's users from ponzi schemes.
India's Finance Minister Arun Jaitley spreads fear across the entire market with harsh comments of cryptocurrency. “The government does not recognize cryptocurrency as legal tender or coin and will take all measures to eliminate the use of these crypto-assets in financing illegitimate activities or as part of the payment system,”
Bitcoins futures market continues to pile on short positions indicating that the crash isn't over.
Regulations for bitcoin and cryptocurrencies trading/mining in China.
Over regulation of bitcoin and cryptocurrencies in South Korea.
And least but not last, the parabolic move from approx $7500 - 20000 was too much for the market to sustain.

Market Cap Correction

I believe what we are really witnessing here is an entire cryptocurrency Market cap re-balancing, one that should have happened a long time ago but because of the series of events from bitcoin forks (free money) and the futures market, bitcoin was sent way too far in to the overbought region. Although I do believe bitcoin will make a full recover soon and a new ATH will be here sooner than most think, I also recognize that there are many other coins that have much better technology and an even brighter future than bitcoin, at least in terms of an investment opportunity. Steem and EOS to name a couple have much more potential in terms of ROI in the short, mid and long term and that's why I'm buying both right now, it's likely the lowest price we will ever see again for both!

https://tctechcrunch2011.files.wordpress.com/2018/02/screen-shot-2018-02-01-at-1-40-49-pm.png?w=680&h=322

https://tctechcrunch2011.files.wordpress.com/2018/02/screen-shot-2018-02-01-at-2-27-28-pm.png?w=680&h=270

Although I typically keep most of my crypto investments in the Top 20 coins, I do leave some room for one or two small caps and right now I see some potential in SmartCash.

Key factors that make SmartCash a great investment

SmartHive is a POS community that rewards its holders.
Renew is a feature which provides blockchain privacy.
Smart rewards helps to ensure a more stable economy.
Instantpay gives the community near instant transactions (Ive tested it, and it does transact very fast).
ASICless mining using the Keccak mining algorithm for more diverse mining and less centralized.
SmartNodes are required to have 10,000 SMART and are rewarded 10% on every block.
SmartHive Voting is a place where holders can vote on projects to be funded.

https://steemitimages.com/DQmUzNujhvemreZf1a7jhg5seLcSH9thPgE18SV8w5dRxFV/smarty.png

SmartCash address SSBxUUmd4Xt4W3pM3KfbsXy9NyxDVH6Mg4

This is not financial advice, please do your own research before investing ;)

My weekly Friday minnow support picks are:

@simply.syd

https://steemit.com/vegan/@simply.syd/my-1-month-vegan-anniverary

https://steemitimages.com/0x0/https://s17.postimg.org/qy7act84f/diner.jpg

@otterbeme

https://steemit.com/colourfulphotography/@otterbeme/colourful-photography-entry-colourful-jars

https://steemitimages.com/0x0/https://s13.postimg.org/onq4c0k6f/755033_DF-_E5_DD-4828-_B7_E9-7313_AAE36_CBA.jpg

@thehappycamper

https://steemit.com/portraitphotography/@thehappycamper/a-walk-through-ken-reid-conservation-area-with-diego

https://steemitimages.com/DQmWA1A1iw6wb88WMChTpFjqv1M6SCTiLXsjMjd1bjs46od/IMG_8834.JPG

They've been creating great content so lets show them some support! :)

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