I'm sure I'm not the only person who notices this but every time the price sinks in the crypto world a bunch of pretty cookie cutter posts do really well essentially cheerleading and telling everyone to BUY.
Now don't get me wrong. It's a FACT that crypto is here to stay and that it is the future. No questions asked but the same users accumulate thousands upon thousands of dollars out of the reward pool just giving the same cookie cutter advice without in depth analysis. Plus even though crypto is the future the whole sector isn't going to go up in an continuous accelerating rocket ride to Alpha Centauri and beyond.
Let me sum up what 20 highly paid posts that will come out will say.
- It's a buying opportunity!
- Buy low and HODL
- This is a great price to buy at
- Don't worry about the FUD .....BUY....BUY....BUY!!
- To the MOON!!!!
There is nothing really wrong with people piling in the upvotes for the cheerleading....... I guess the market has spoken.
A lot of people might say that I am negative but I have tried to be as honest about what I'm seeing as possible despite the fact that I don't hardly get any support for those posts.
I made an indepth post about my feelings regarding the pull back 7 days ago being the dead cat bounce and that we wouldn't return to $5,000 for an extended time potentially years.
I would rather the market keep going up and STEEM going to $10 / coin.......etc. But as a whole I know how messy it can get out there and I know that it is likely we see some vicious lows before we see higher prices. It could be painful.
The Way I'm Playing It
I'm not committing large amounts of new fiat capital to the markets anytime soon. I will keep cost averaging in but the reward could be years away. Like with EOS. I will just keep buying but I might not catch a ride for over a year.
I am also doing shorter term trades with smaller amounts of fiat and taking the profits to mainly cost average in on some of the longer term plays.
I May Be Totally Wrong
There is still a chance we see some insane surges in the entire market but the reason why I don't think that will happen is because there are already a lot of n00bs who are upside down on their investments. First they get upside down on stuff like ETH, XMR, DASH......etc. They start getting scared and they need the money for bills. Suddenly their mining rigs aren't profitable anymore and they don't know if they should keep them running or turn them off. They then sit in their closet in the dark and eat a whole tub of ice cream to comfort themselves. They weren't ready for this rodeo.
There will be diamonds in the rough and you can still make money. Ultimately you can keep building your STEEM Power buy blogging, curating, and doing challenges. This is a very long term strategy game.
You can still get bitty rich!!! Just keep learning and picking your strategies. Don't throw in the towel and eat a whole tub of ice cream in a dark closet.
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