I Think We've Hit The Bottom Of The Crypto Market... Now What?
If the crypto market has finally found the bottom, and is starting to move back up, what do we do now? It's been a wild year so far and we've gone from over $800 billion market cap to $425 billion market cap in less than a week. The good news is, it looks like the market has found it's footing. You can relax now.
(Source)
If you look at this graph below from Coinmarketcap.com, you will see the drop off and how we are now trending up.
It looks like we hit the bottom yesterday and we are again heading in the right direction. This "crash" is part of the volatility of crypto and isn't for everyone.
The good news is, there are a ton of buying opportunities right now. This is a good time to get into the good projects at a low price. You always hear people say, now is a good time to buy, but what if you spent all your money a couple of weeks ago? Don't worry, just hold on.
The market is wild and it could go back up at the same pace it fell. You never know with crypto. So if you can, get some quality coins at a low price, then do it. If not just wait and watch.
One of the best ways to get a feel for how the market is moving is to watch it daily and keep an eye on what your coin prices are. Notice trends and figure out when to buy more when you do have some money. Maybe some saved up SBD or something. This crash also showed that Steem and SBD can hold a lot more value than where we were just two months ago.
Right now I think we are in a very good position. The market looks healthy and volatile like an infant child. It is a good time to be in crypto and in the big picture of everything we are only in the beginning.
Remember, I'm not a financial advisor, I'm just a guy who blogs about what I see in the markets. We could be far from the bottom, who knows. I'm just saying what I see.
Do you think we've hit the bottom of this latest crash? Let me know your thoughts in the comments below.
Thank you for reading.
A lot of new investors just had a rude awakening. That was intense for them. I had to tell multiple people to just relax and buy the dips. In a few weeks this will all be behind you and you will be glad that you bought the "sales"
Amen brother. I have had the same experiences for sure with new people. Thanks for reading and I hope all is well.
To Anyone who thought that Bitcoin is giving away free Lamborghinis, there is your lesson.
If you can't handle the 40 percent drops, then you do not deserve the 1000% gains.
My man! That is 100% right. Great way to put it.
Thanks for reading and I appreciate your feedback.
Hope you have a great day.
Ah, finally some sensible advice. Listen people. Don't panic. That's just going to make you do something stupid like move half your assets based on some offhanded steemit, or reddit comment, and then it doesn't go the way some guy blogging in his underpants called it.
But increasing your stake in something you missed the boat on a month ago, or just buying in for more, is a very good idea right now. Especially passive income coins like ARK, exponential growth is def your friend here on those, so get us much as you can early on.
Steady as she goes...
And before you know it, this will be crypto...
hahahaha, awesome! Thanks for the great reply and the kind words.
I think we still have a chance to move lower if news permits. We could see 5k BTC I believe.
Wow, that would be a big drop. We haven't been that low in months. Who knows, you could be right. I'm not confident the market will shoot up, but I do think it is stabilizing. We'll see. It's crypto, so anything can happen.
Well you just said it, haven't see that low in months. Months really ain't that long of a time, so very possible to test those levels.
The market will stay like this for a week before moving slowly upward.
I think you might be right. I don't think it will be in a hurry to get anywhere in the very short term.
i think lets go
Do it!