One of the most interesting things of the crypto markets is the psychological aspect of it. Markets are always fueled and controlled by emotions but usually only to a certain degree. When it comes to the crypto - it seems to be the ONLY thing that matters.
News articles and social media campaigns can pivot the market into an upward or downward trend. It doesn't matter if the news is fact or fiction. There is severe market manipulation happening. I am not saying that just because the markets are down, in fact I think the market and news manipulation was more severe on the way up.
Go visit any of the subreddits of the recently pumped altcoins and you will find attitudes like this:
Please take a moment to think about why you are here. Likely it's one of the two reasons.
Don't lie to yourself. A lot of you invested to get rich quick. You heard the hundreds of success stories and wanted in on the party. To you - I present you this quote from Warren Buffet.
"Nothing sedates rationality like large doses of effortless money. After a heady experience of that kind, normally sensible people drift into behavior akin to that of Cinderella at the ball. They know that overstaying the festivities—that is, continuing to speculate in companies that have gigantic valuations relative to the cash they are likely to generate in the future—will eventually bring on pumpkins and mice. But they nevertheless hate to miss a single minute of what is one helluva party. Therefore, the giddy participants all plan to leave just seconds before midnight. There's a problem, though: They are dancing in a room in which the clocks have no hands."
Warren Buffet
For the others - who are here because they believe in the future of this technology.. Nothing has changed other than market sentiment and price. And in 5 years will the price of 2018 even matter?
A lot of you must be thinking... But Cryptoindex.. you must be hurting now! you are obviously heavily invested into this game!
It's true that a portion of my wealth is in the cryptomarket. I'm not worried at all though. I have a well diversified portfolio. As with all investments - I only ever put in what I was willing to lose. I also made sure to spread my time and money into other investments like everyone else should.
I make sure to always hold
Past performance is not indicative of future results... but watching this video always makes me feel betters:
We've seen these crashes before, we will see them again. You, me not no one knows when the crashes will come or how long they will last. Make sure to never invest emotionally and play your cards right.
Good luck everyone.
Get More Votes and Followers! - SteemEngine
