I went to the office today for the first time in over a week and was almost immediately bombarded with price questions, even though they know I don't predict. Those who hold want to know the bottom, those looking to buy, want to know the bottom too. Essentially, while the markets bleed red, everyone is looking for the green floor, the turning point where if they buy, there is only upside and of they hold, the value starts to increase again.
It might be interesting for some to speculate on, but for the most part, it is useless. The market does what it does and of looking long and the macro trends continue, there is only upside - it is just a matter of time.
If you are a believer.
There is still the strangeness that people spend so much time looking at charts and watching YouTube videos from predictors, but spend so little time actually understanding what they are holding or what it can be used for. I don't know, maybe it doesn't matter at this point, but I still have the intuition that utility is going to be the driving force that will keep raising the floor of crypto in general, but specifically individual projects, as they start operating more like serious business models, rather than cottage industries.
Someone asked today if I was "happy" with the current downtrend and I answered that it doesn't change much for me, but I am still affected by the sense of technical "loss" that comes with lowering prices. However, I will still keep buying where I can, so it just means I get more than I would normally. While everyone wants prices to increase, when prices are low, it really is the opportunity to upsize returns.
But, there seems to be a psychological barrier in most people where they feel that buying on the way up comes with more reward than on the way down - 30K is 30K, so if you think that is a good price, it doesn't matter. People also do this with selling, where they put in a sell at some future price they are willing to take and when it goes through they are happy, but if it keeps climbing they soon lament their decision.
Essentially, what they have done (I have done many times too of course) is underestimated the value of a token at a given point in time, whereas the market during that period had other ideas. It is pretty annoying when the market doesn't do as we expect it to do, isn't it?
I think that for the people who spend all of their time guessing what is going to happen, they are mostly going to have a fair amount of error, meaning that the market rarely acts as they expect, yet, they also don't seem to change their expectations. It is a weird conundrum really, as expectations should be tied to some level of experience, but this kind of expectation is based more on ideals than reality.
Ideally, I should have about 1000 BTC and the price would be in the 6 digits left of the decimal. Unfortunately, that is not the reality, no matter how much I wish that it was the case.
but what I keep suggesting to my friends and none of them have taken the step, is that rather than spending their time predicting price, just systematically buy and spend the rest of the time participating in the crypto projects in some way. Take ownership of more than the token, own the experience too.
As I was talking with some friends last night, regardless of the price of whatever token, up or down, we always have something to do here on Hive, whether it be on the blogging side, gaming side, around Hive topics, or shooting the breeze on all things life, crypto and crypto-life in Discord. We get to have all the fun together when prices are up and we can discuss the realization of dreams (whether made reality or not) and in the downs, we can support each other through and talk about the next corner - all while interacting, voting, creating, planning, and having conversations around the developments on Hive for the future.
In my experience, part of the problem with investing in general is that it is largely a sola experience but for crypto, this is not the case - or at least doesn't have to be the way it is. We get to be "in it together" but in order to have this opportunity, we have to take the opportunity to opt into it. No one is forced to participate in crypto activity, but in my opinion, there are a lot of benefits to building a strong network of trusted people, as even if there is no "trade talk " at all - there is a group of friends who understand each other and know the feeling of not having their expectations met, more than once.
What is interesting to also note; while prices are dropping people are looking for the green floor, but when they are increasing, avoid thinking about the red roof - we just want it all to rise forever, endlessly - impossibly.
At my height, the floor is never that far away.
Taraz
[ Gen1: Hive ]
