Hi All! It's been a while since I posted (sorry about that btw!). I thought I'd share a few thoughts on the market these past few weeks to the folks I can count on to listen. Plus I think my fiancee is getting pretty tired of hearing me vent about crypto happenings...
First of all: Holy hell, I don't know if I can handle the swings anymore...
This market has been crazy lately. Every day a new crypto does a 10x. And it's not even small projects anymore (cough Ripple cough). And can we talk about Ripple for a minute? It's not even a crypto currency in the truest sense. It's a centralized pile of crap being peddled by a company that controls the supply. Yeah yeah it works with banks... So what? That's almost a bad thing... Anyway rant over.
I'm sure I'm not alone in making a fair share of bad trades these past few weeks. Sometimes doing nothing is the best thing. Among my notable missteps was selling LTC before it's pump and selling XLM a while ago before Jesus Christ, what is happening?!
That's not to say that I haven't benefited from the upswing in altcoins, but seeing every random coin that I've looked at over the past six months hit a billion dollars is taking its toll!
Second thought: We are not in a bubble!
I'm beginning to think that this is just the beginning. One of my favorite graphics lately has been this one by Willy Woo. It perfectly illustrates what I've been feeling about crypto for a while. A lot of people have been saying this, but not quite so well in my humble opinion. I've reproduced it below:
I am of the opinion that in a few years when we look back at the beginning of 2018 and the crazy swings, they'll look like little blips as the whole world was beginning to transfer its collective wealth to digital assets. Call me crazy, and obviously I'm extremely bullish on all this. I guess what I'm trying to say is that the swings are only going to get bigger (welp) and I for one and going to get a prescription of Xanax filled so I don't lose my mind this year.
Third and final thought: Happy New Year Steemit!!
Sorry for my brief freak out earlier. I sincerely hope my readers and the community as a whole are having a prosperous New Year. I hope you all made the good trades I made without the bad ones (we should be so lucky!). Don't forget to take a little gains and enjoy yourself here and there (and pay your capital gains taxes where applicable!). Happy Steeming!!
