If You're A HODL-er, Do Low Crypto Prices Matter?

There's no excitement in the crypto markets these days and that's putting it mildly. I was just reading this terrific analysis by @cryptoportfolio that just confirms what everybody's been feeling since the end of last year. We had that massive run up only to crash and burn with bitconnect, tether and regulation fears.

Which is worse? FUD or apathy?

"There is only one thing in life worse than being talked about, and that is not being talked about." - Oscar Wilde

Based on the post by @cryptoportfolio, crypto search terms have seen a 80% drop from December 2017 levels. When there's fear, uncertainty and doubt, the market correction tends to be V-shaped. We see a sharp sell-off followed by an equally quick rebound.

When there's apathy, however, the correction is longer and we've been in the doldrums for a good two months already with no end in sight. It seems like there were a lot of bag holders with bitconnect and $20,000 bitcoin.

Accumulation and Distribution

If the crypto market is anything like the forex market, whales 'accumulate' when currency prices are low and the 'distribute' them when prices are high. Their time frames are in months (weeks at the least), rinse and repeat. As i type this, steem prices are at around $2.80, well off the highs of $7.

So what do you do? Considering that steem prices were as low as $0.80 just four months ago, if you have no faith in the platform, you should be really worried. If on the other hand, you believe that crypto isn't going the way of the dodo, then prices are a lot more attractive then they were month ago.

My own gut feel is that we consolidate at these levels, which we saw in July 2017, before moving on that next leg up. But who knows... this whole thing might go belly up and that's the fun of investing. :)

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