Vlog 329: Getting nerveous? Emotions in the crypto markets.
I must admit that creating a plan and carrying it out is a lot harder than I thought.
So I sold crypto in the December for fiat with with the idea to buy back in incase prices would go down.
Well here we are.
Bitcoin went from $20k to 6,5k
STEEM went from $8 to $1,45.
There is just one problem.
It's scary buying back in. LOL!
Welcome to the crypto markets where emotions will play tricks on you.
I talk about it more in my vlog.
I am part of witness @blockbrothers.
Please consider us for your witness vote if you think we deserve it here:
We are the creators of Steemify a notification app for your Steemit account for iOS.
Get it Here:
My video is at DLive
Yeah! it's hell lotta a scary. I didn't sell when it was soaring. I bought some then and I am almost broke and steemit has become a place where creating helpful content like guitar lessons I do can never be rewarding. So the best way to overcome this difficult period for me is to think I don't have any more crypto left so Forget about it and hold.
By the way I just wanted to know, Is your blockbrothers witness investment paying off?? How long does it take to break even?
When SBD was high we bought a lot of months of server rent. A new bill is coming up soon though. Will be less easy this time but we are break even for now.
Thanks for the reply. Good Luck mate.
Mark @exyle it is easy for me to consider buying STEEM now since I don't own that much anyway. Thank you for being kind to me always and for producing consistent content on a daily basis. I look Up to Steemians like you to know that I am here in the right place................
P.S. The Price of Steem will turn around and we will wish we bought more down here................
Thank you! I'm also buying some everyday.
Way to go CHAMP ! GO Brazil !!!
In a couple of years time, I'm sure that we will look back at the price of Bitcoin today and think how cheap it was.
That said, I think that prices could still go slightly lower in the short term, so I would advise thinking long term.
Yeah the timing wasn't great but who knows what Ned is doing with his STEEM. And that's just it right, it's his STEEM and he can do what he wishes.
I hope it's for something like you mentioned. Crossing my fingers.
I've lost a ton of fiat buying into STEEM when I did, but not straying from my game plan either. 2-3 years, that's how I will judge my investments :)
Very true, crypto is playing with my emotions right now, I was thinking I have a lot to convert in my currency which more less than I thought so I have to wait till we get to christmas or be vigilante when the price rise to my favour. Hmmm i need to work hard and get more sbd
I understand the powerful emotions and how this bear market can get to you. However, looking at the current market cap of $290 billion I think this is still very low. They say once institutional investors start coming in, things will explode as the market cap goes over a trillion, maybe a few trillions.So HODL hard as its only a matter of time for this to happen, it is inevitable. Patience, patience and more patience is what we need :)
I have been around only four months. I have never cashed out so it was a rollercoaster of emotions for me. Now all I can do is to trust my effort and hope it recovers but seems too unstable. I will hold on and trust
As you described, crypto is not for impulsive people, you need to be and stay racional with your decisions. Any investor is here for the long term, and that´s a lesson everyone needs to know and understand.
I agree that the timing of @ned powering down right now is not great, but I don´t think that must contribute to spread FUD.
The grey hair is not because of the markets, it is the age (5 years passed) ahahah!!!
I don't blame you for being nervous, there is still that kind of feeling that there is a bit further downward (yeek) to go!
Well that was really interesting to see the other side of being a big stake holder. I'm faffing about trying to decided when to buy btc with my 500 euros. 😂 But we all have to start somewhere I suppose.
My account has halved I think in $ value but it's not yet big enough that it makes much difference one way or another. I'm more focused on trying to get my SP to my next goal of 1000 so I don't look at the dollars much.
However, if I was losing 10K for every 10c drop that would be a whole 'nother matter. Not sure I have the constitution for that!
Did you say, at one point, that you had chosen fiat over tether? I didn't get what you were saying there.
Hope you have some stuff planned to take your mind of all this. Perhaps you could borrow toddler Sam for day! 😁
Yeah, Fiat over the Tether Dollar (is a crypto pegged to the US dollar).
Crypto is always on my mind wether it's high or low. I have no found a way to not think about it.