Altcoin Bloodbath Bitcoin Effect Happy Memorial Day
It's a good time to turn your monitors off and go enjoy the long holiday weekend.
Morning 5/27:
reds across the board, everything going down.
Evening 5/27:
some greens start crawling back in, not a turnover yet, but futures looking good.
I'm glad the BTC crash has allowed me to get a few ALT coins i was looking at nice and cheap.
@joseph
I've been saying that we need to go long term and not stress too much. Thanks for your post!
Yes the fear makes the weak flee in droves :D but they will lead the come back.
Yeah... they'll be back 💪
@joseph
That's a very good point! Well said, my friend!
I know I am newer to this than a lot of you, but I don't panic. When I write up my crypto or Bitcoin in Canada blogs, I even put in the title often to REMIND people, that
Dips are not Crashes.
I have found it useful to use some of the same phrasing and templates, over and over, because people are either new, and more coming daily that are new, or just need a reminder.
Thanks for all your work @joseph
I'm a chartist - meaning I invest based upon patterns I see in charts. While I am new to crypto - the chart for steem from JUL 2016 shows a clear double top - which is precipitous of either a major upswing or a major downturn. Looking at the chart it was a major downturn. There have been changes to the currency since then.
What I am seeing now in BTC and Steem appears to be more of a retracement - and in a retracement (Rather than a correction) 50% of previous gains are given back, followed by an new growth pattern.
I, for one, won't panic. I don't have much steem yet - but I'm also not selling any BTC.
Hold tight - ride out the retracement, and enjoy the platform. Post quality info and enjoy life!
Well said, Bitcoin trip just started, and the temptation to sell is strong for those who are not familiar with the swings, holding tight now will surly make the biggest difference in the near future.
I guess you are not in a panic and do not want to sell me your BTC eh?
LOL
Followed and agreed.
stay calm and buy the dip!
We need a Red Cross here.
If one truly believes in the longevity and robustness of crypto currency, then my 2 cents is invest for the long term in a coin/token you like based on its application, team behind it, its community, and also something that interests you i.e. if you like blogging consider steemit.com, if you are a musician consider muse etc. start to buy bits at a time, grabbing some on the dips, wait and hold for any blow outs and take some off the table as they go up. Spread your investments to a few coins and most importantly never invest anything your not prepared to lose. If you don't know how to trade at all just walk away and come back in a few years and you should have a tidy profit :)
good advice.
Thx :)
Right attidude joseph
This was big shock and after shocks are still remaining so be prepared and i personally love to bear such condition and it must happen to control and to stable the system. this is my own opinion.....
Congratulations @joseph!
Your post was mentioned in my hit parade in the following category: