2018 Crypto Bear Market has been overwhelming for everyone who is holding their bags. I am personally holding ALL of my long bags, because the future of my long bags looks to be promising. In Hindsight, I would've been sidelined at least 20% from ATH (All-Time-High). Once it begins to drop, your brain just keeps telling you "It cant go much lower now, it'll rebound." As it gets lower and lower, you keep telling yourself this. Twitter OGs calling bottoms, tweeting they're sidelined, and some CAD (Cost Average Down). I was on twitter buying what I thought was bottom on most of my long bags. I tweeted multiple times i.e "Just doubled down on $DRGN" tweeted this as Dragonchain was around 89 cents. Last I checked it was 38 cents. Nobody knew this was going to happen. There were a few, @CryptoGat called $3-4 thousand $BTC a few times WAY early. I laughed it off. The @BitcoinBravado paid Premium Discord channel was mostly bearish. Some analysts holding 50-70% of their funds in Tether or cash. Bravado themselves said they were mostly sidelined. My recollection is terrible, but I believe they told the group late March early April that they, Bravado Team, are mostly sidelined. Buying into long bags slowly and waiting for a market reversal. Since then, there has been 2-3 market reversals that never held ground. Small pump and right back down, lower. CNBC aired an episode where they held a "Bitcoin Funeral". This IS funny, no matter the market conditions, bitcoin isn't going anywhere. There is a website for bitcoin obituaries, I am almost positive there are over 200 obituaries. Just checked in on https://99bitcoins.com/bitcoinobituaries/ and Bitcoin has been declared dead over 300 TIMES!
In the middle of tweeting while writing this article ( @Curt_Shilling on twitter ) about people who purchased a car with Bitcoin over $10k. Nice job and good choice this time around. Apparently, after doing 3 mins of research, I found that a car loses 10% of its value immediately after its driven off the sales lot. Over the next year of owning that car, on average, the car loses another 10%. So, this means that if you bought a car with Bitcoin above 10k, you made a good investment. You could sell that car right now and buy back MORE bitcoin than you had when you bought the car. All of the whales/OGs driving around in brand new $60+ thousand cars, good job. I don't see purchasing a car with bitcoin as a great investment at all and never will say that. Buying a car is an all around bad investment aside from the fact you need one to get back and forth to work depending on where you live and work location.
With this all being said, as Ive been told in the space since I started investing, we are all still early in the game. Cryptoassets are still in its infancy. This I do believe wholeheartedly. Ive read many books on crypto. My favorite being "Cryptoassets The Innovative Investors Guide to Bitcoin and Beyond" written by Chris Burniske and Jack Tatar, Foreward by Brian Kelly. Both the authors and Brian Kelly have twitter accounts, Brian Kelly is a CNBC contributor. In this book they stated, at one point in the book, the very first stock market which was in Amsterdam. Investors were making tons of money with the volatility being just how Crypto Markets are today. Large gains and large losses. Took a very long time for the market to gain stability. This confirms that we are still very early in crypto asset adoption. I feel as though we will all be rewarded in a way we never thought possible. Wealth beyond your imagination. The greatest tech to hit the streets since the internet. Blockchain will crush the internet as crypto doesn't need the internet to function. Blockchain will replace the internet.
Thanks for reading, Curt_Shilling
