Everybody relax. Here's the reason for the dip, and when the bull market will return.
Asia still dominates in crypto-trading by volume, accounting for the vast majority of money flowing in and out. Guess what is coming up in 3 weeks? Lunar New Year. Lots of money is flowing back to fiat to buy presents and plane/train tickets.
People spend a TON of money on travel and presents during Lunar New Year. This is their Christmas. This is also the largest mass migration of people on the planet, occurring over two weeks. Projections are for $100 billion USD in spending. [https://www.forbes.com/sites/ywang/2017/01/26/worlds-largest-human-migration-begins-chinese-new-y...]
Remember that the crypto market is antithetical to the stock market. Stocks boom when business is booming during the holidays. Crypto investors are retail investors, not Wall Street investors. Retail investors sell during holidays, thus the crypto market falls.
This selloff has happened exactly 3 weeks before Lunar New Year each of the last 4 years.
Evidence: [credit: u/Secruoser]
So, everybody chill out for a week, the bulls will be back by February. You can't fault these Chinese and Korean bros for taking major gains to buy some cool shit for their families. Hell, if you want to, buy up their cheap coins in the meantime.
You don't think Asians who have made $100K in the last month are going to sell a good chunk to buy fancy stuff? You don't know Asians.
This does appear to be cyclical.
To be honest I feel a good correction like this is healthy moving forward. There are far too many shitcoins massively overvalued at the moment, and in all honesty even some of the most promising projects are highly overvalued.
I personally cannot wait for the real reckoning, where investments will be FORCED into the direction of legitimate projects.
I am the one who fuds
put me back under, doc
Ofcourse you did, huge cojones shorting crypto!
ETH/VEN here. I thought I was safe until today.
He must be a ETH/NEO hodler
soooo articles re: this are shadowbanned, but your post isn't nor is the one on /sub/btc? please explain.
Pizzagate is the story about correspondence leaked by murdered Seth Rich to Wikileaks regarding child molestation and torture?
Why, do you have any connections to Tether or?
Andrew Breitbart tweets before death adds fuel to online speculation of D.C. sex-trafficking ring:
DC PizzaGate: A Primer Updated 7/7/17
Archived reddit thread to fellow journalists which led to the banning of /sub/pizzagate:
The Pedophocracy by David McGowan – Bibliography included:
FBI Special Agent Ted Gunderson outlines satanic pedophile elements in the United States:
Evidence regarding international pedophile rings being protected by police and intelligence agencies:
Have nothing to do with the fruitless deeds of darkness, but rather expose them.
Yeah no wonder the same shilling methods were employed by the DNC and Bitcoin Core.
Daily General Discussion - January 16, 2018
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Man I got hit in the dick today when my son was throwing a shoe.
Now the market wants to full on kick me in the dick with a bear paw.
I didn't dump my son and I'm not dumping these coins. Both gonna do good shit soon.
We’re in a dip yes, but remember it is only Temporary
We’ve all seen the welcome to the show memes, how many more times do we have to see it so it can sink in..
We’re investing in the future. we’re all in a dip, we’re all hurting, but we’re also all crypto redditors, so let’s look out for each other
I'm donating 10 bucks to charity because this comment was so ridiculous and funny. Where do you want it to go?
Comparing your kid causing physical pain to the pain of this week...lmao
Any lifeguards here to save me from drowning in this red sea?
Now is the Time to Accumulate - But Do It Intelligently
I've been in the crypto game since 2014. I've made enormous gains in my time and there is a very simple way I've done that: I've bought very good, promising projects, and held on to them for the long haul.
R/cryptocurrency seems to have a lot of newcomers to the crypto space. That's great, and welcome. I see a lot of posters have the right idea that right now this correction is the time to accumulate, but it makes my stomach turn to see them talking about making bad decisions when they execute that plan.
I see posters talking about buying Bounty for cheap. Buying Verge for cheap. Buying Tron for cheap. Buying WTC for cheap. No offense to those who love those coins, but you are doing it very WRONG.
Now is the time to accumulate solid projects with a real chance for adoption and success. To my eyes, there are a number of projects that will have clear success through dividends, use-cases, adoption and solid technology. Now is the time to accumulate: NEO, ETH, NAV, XEM, ICX...
Bnty, Tron, Verge and the like: those are not coins to buy on a discount. Those are coins you buy very early on and get lucky with ONCE. Riding a Tron wave is a lucky break; buying NEO for cheap is SMART.
You buy good projects when they are cheap and you hold on to them through market dips and booms. It's that simple.
Good luck to all!
edit 2: disclosure -- I own a lot of WTC (a guardian master node): in my view, the project has a lot of variables that it needs to get right. RFID chips need to work. The master chain needs to work. The child chain needs to work. Partnerships need to become reality and not just talk. It could all work out well for WTC, and if it does, then it will be very valuable. Or, any one of those variables could fail, and the project could flame out. That's why I don't advise people to buy into it right now. If the price dips below $15, I would recommend buying. But for now, I recommend holding. Cheers.
Stop telling people not to FOMObuy hypecoins at their ATH. Their money is putting my kids through college.
College is a bubble.
Where do I buy College Coin?
Good advice. Have an upvote.
See You All in 2 Weeks
In the midst of the sea of red and the temptation to check my portfolio and/or reddit constantly, I’m signing out for 2 weeks to let the market do its thang while I do mine. Very confident in my portfolio and am a HODLER, so I’m just letting it ride. Don’t forget to live your life...if all we do is look out for is green numbers we’ll miss out on the beauty every day. Some things I’m excited about for the next 2 weeks: 1) Just started getting back in the gym 2) I’m asking my crush out on a date this week when I see her...wish me luck! 3) Best friend’s birthday party
In the end the only thing we can never recover is our time and the memories we create while being present. See y’all soon!
See you in 20 minutes.
I feel personally attacked.
Good on you brother. Hope things workout with your crush and your buds birthday party gets wild!
Quick, let’s shaving cream his portfolio!
lmao just dont look for 2 weeks
i like how if my airplane was about to crash you all would still make me laugh.
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Friendly reminder: If you are convinced you have good coins, HOLD.
My portfolio tanked a lot in the last days and I critically evaluated each coin. 80-90% of my holds are coins which either have a working product or are on their way creating one.
There is one high risk/high reward coin where I'm not sure if they'll be able to deliver. The rest are a few shill coins under 1% each. I would have kicked them in hindsight but won't now that they have already tanked.
If you are convinced you have good coins hold or you will lose a lot of money.
Selling low is in 99% of the cases not a good idea and the crypto market has so far reached ATHs after a crash/bubble/ correction every single time.
Remember: bear markets are a lot like self-fulfilling prophecies: People fear that it will go down, they sell (at a loss) and it will go down even further.
Do yourself and us a favor and hold. :)
VEN, IOTA, ICX, XLM, XRP, ETH, NEO and XRB.
I got shit and I'm still hodling. This market will turn.
I have a lot in Cardano. I think I'll just hold and invest new money into more alt coins....
Don’t worry it will in a matter of weeks. It’s being bought like crazy at these low prices and tons of people are still holding. Analysts are saying it’s only a matter of time before it explodes again. Just hold tight!
I'm seriously considering converting some of my fiat into BTC and into an alt coin.
Put your order in now and maybe it will transfer before the game starts
wow, chill out, it's prob intended more for big purchases like season tix and shit. this is a good thing.
Cuban has been talking about crypto for a few months now, not that hard to believe they will actually start accepting it. If he just wanted the headlines it would have been better to quote reply
They better accept Doge!