Vlog 167: Crypto markets corrected 30-40%.
Waking up to these markets was a bit of downer after the great night I had with Blockbrothers last night.
The Markets crashed around 30-40% and that's a little painful.
It's not unexpected though.
Something like this was bound to happen for some time now and that's why I have been recommending to take profit gradually in the uptrend.
I diversified my profits into cash (instead of other cryptos) for the last 10 days because I didn't know where else to hide.
For now, I'm sitting on my hands.
Watching Star Wars tonight will be a great way to distract my self.
What's nice for blockbrothers is that we extended all our witness servers (3) for the next 6 months last night with an SBD that was worth $13,50.
That was a good deal and was just another way of taking profit.
As with any correction in crypto. The bears have woken up.
Peter Shiff, for instance, is already screaming it will go to zero.
I talk about it more in my vlog.
I am a witness with our developer group @blockbrothers for the Steem blockchain. If you want to support us I would appreciate your vote here.
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A "crash" like this was well overdue. I just hope we can avoid a long bear market like the one that started at the end of 2013. Either way I'm sitting tight and riding out the storm
Great Vlog once again @exyle
What a turnaround of events i saw your vlog yesterday where the cryptos were going so top over the prices as you said almost doubling the portfolio in just the December month and boom today the mind is totally rough like the crypto trend.
I Think it was expected from a long time as the crypto market as far as i know have not seen any major correction from almost last 5 months and the prices were going insane as soon as any dip comes in the investors were putting back the money and so on.
Millions of dollars have been gone in just a matter of hours from the time i saw your vlog and the trend of crypto for sure looks like The Big investors have taken out their investment money out as the Christmas season is here look to me like that earlier on also this happened when the holidays approach this major pullback occurs but this far most the Big correction i have seen till now.
i don't know about him a lot but even the major publications are spreading negativity about the prices some big media housed on Facebook with millions of followers keep spreading the F.U.D with having these big people faces on their articles the F.U.D is definitely strong ....but as you said its normal in the cryptocurrency as as far i have been in this crypto world i too got matured over the time this is just a correction and the prices will go up soon no doubt but we need to have the HOLDING power right now.
The price were heating up so much for sure from nearly $20K to today $13K this shows how much pump up it was but sooner or later we have to see this day finally it arrived.
Hahah seems like i too need to watch it right now with friends to keep my mind refreshed :) and congratulations to you and blockbrothers for a great deal cracked with using the right opportunity with sbd's
With all that being said ,
I hope you have an amazing weekend ahead,it was a pleasure seeing your Vlog
Have fun
Cheers.
I don't see what the problem is; I got in at 1.68 earlier this month so 2.40 is fine for me. As of this comment it's at 2.77. Keep on keepin' on, I'm staying in! Greetings!
Yes there is a lot of red but in reality I am still in green as I bought when it was cheaper than befire the mooning. And one should ask what exactly caused the moon in the first place. Maybe some big money investor entering and now it's Christmas and New Years where Banking will be difficult at last minute so they choose to exit. And maybe some 10dollar investors pulling their pants up and running because of the News. The Media hyped it up and now they will break it down. Don't be sheep. Be the herder. Look at the big picture.
F@CKING HODL!
I like your positive attitude! :)
Back to $2.91. Love it here :^)
Be careful not to indulge in the debate
But I want to follow you on how to get as many followers as you bro
In addition to a strong upvote of party followers
I work a lot but the results are weak and this makes me sad and makes me lose hope
Sincerely followers should be the least on your mind.
Bring daily VIBRANT posts should be your #1 objective.
Keep on steemit.
Followed!
@pouchon You forgot fun. Having f u n.
YEAH FUN, VERY IMPORTANT.
BE SILLY if you can.
THANKS.
I think it's important to note that even though the drop was sharp and had a lot of momentum, it seems to have stabilized where it's at so I wouldn't worry too much.
Not saying it won't drop more, but there are still plenty of people willing to buy.
Just put all my money to steemit trough out last week. I personally see these cryptos to be more than investment, as a future currency next to other currencies (NOT FIAT).
It was expected..now we moon? :)
PS: I just wrote a gift guide for X-mas if anyone interested please check it out!
Do you have to pay taxes if you turn some of your crypto into cash? Also I don't understand why do you have to pay for your servers, I though you were hosting them. Good to see you laid back as always in a down trend. Cheers man!
Oh no, I'm sorry for the confusion. I don't host servers. If I need one I rent one from another company. In this case @privex. I already pay tax over the crypto that I have so for me it doesn't matter that much.
I see, thanks for making things clear
Wonderful post by @exyle
Followed U...now I'm become Ur fan sir...I'm always try followed ur blog every day...
Good luck....
Thank you for your witness support!
U are wel come sir...I'm waiting for Ur next update in this platform...bcz...Surely I can learn something about crypto world...
the problem with cash
(at least in the united states)
is that when you turn cypto into it.
it suddenly becomes
REAL MONEY!
and subject to tax.
I understand but I still prefer that to seeing it vanish into thin air :). For me, it doesn't matter much. I already pay taxes over my crypto holdings.
I pay taxes too.
but only when I convert it to USD
I see. I also pay taxes when it's in Crypto. So that's a huge difference.
ah..but you INVESTED.
I din't.
I only play with crypto with the steem I got from bloggin on steemit.
just play money..
not real...
iszit?
If you ask me crypto should only be taxed at the end where it becomes fiat. Because while youbare HODLING they fluctaute. It would be so unfair to pay taxes on high value days only to see res like now and then you lose double. The tax man will send men with guns if you don't pay.
It DID vanish – into the hands of psychopaths.
I get what your saying @exyle but it was about to happen soon as its been doing well for a while now, haha when it doubt with crypto watch starwars, SBD when down a little but still so great.
@exyle I love the pullback in price so that I could get some more LTC. Charlie Lee has had some exciting TWEETS lately................Merry Christmas to you and Bianca.
Merry Christmas!
Also your Mom @clio too
Oh yes, you are absolutely right, the correction that is now happening was quite expected, as the market does not stand still and only on the change in the exchange rate is the movement on the exchanges. You correctly noticed, now is the time of the bears, but we will wait for the next take-off, that would be beneficial to distribute the assets! Thank you @exyle and keep us informed.