So, many of you are probably accutely aware of the price changes of bitcoin. You're staring at your wallet, converting to USD, and thinking.. ugh. It's mostly red, and it has been a rough ride for mostly a month. Some of you may have panicked already. Some of you might be panicking now. I can't tell you what to do with your money because I don't know your circumstance, but maybe I can share an insight that I had while at 's event last night.
In the room were many young people, some still in college, with faces filled with energy and enthusiasm. In that crowd were a handful of older devs that seem pretty comfortable making the rounds at the various blockchain meetups (which I'll start attending more frequently to evangelize Steem). And ever fewer still were the handful of millionaires or people representing millionaires and billionaires looking to make active investments in existing coins, tokens, projects, people, and companies.
If I figured out anything last night is that at least in Boston this feels like a tough correction, but from what I saw it leaves me more confidant than before that it's just a correction. This isn't a crash. This isn't enron. This isn't Lehman. This is an early lifecycle business going through boom and bust cycles that fuel the growth. So, as your making your sad clown face staring at your wallet I would ask to consider this: The last time btc was at this price was around 11/24/17. You can read here about how price was in between 78-90 cents. I'm looking at steembotracker.com (because I own it and like the USD feed) and seeing that Steem is at-
Block chain isn't dead, it's reloading
Corrections are good. They let new buyers into the market. BTC continues to follow from what I can tell Metcalf's law and we seem to have little trouble increasing the number of people in the ecosystem, and that's increasing the number of people investing, building products, performing services, and building a crypto economy. It's magnificent to watch.
Other investments
This dip is so low that I'm now mobilizing to sell off some of my other investments to make more room for crypto. If I can pull this off I'll have the majority of my wealth in crypto, and even though there's risk it I'm confidant we'll bounce back. So, I don't know what's right for your family because I don't know your circumstance, risk tolerance, balance sheet, or cash flow, but I'm moving out of fear and into greed pretty hard.
Bullshit disclaimers
As usual, I pity the fool that takes this as financial advice or thinks I'm responsible for the decisions they make. Make up your own mind and just take this as a neat aside of what I'm doing for my family.