So Bitcoin Just Took a Dump-- Does That Mean the World Has Ended? by denmarkguy

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bitcoin · @denmarkguy · Jun 16 '17

$54.33

So Bitcoin Just Took a Dump-- Does That Mean the World Has Ended?

<html>
<p>Lately, there has been-- <em>no secret to anyone</em>-- quite a bit of instability and unrest in the cryptocurrency markets.</p>
<p>Most recently, Bitcoin briefly touched $3000 a few days ago, but then shed as much as $800 (or more than 25%) with no real signs of stabilitzation.</p>
<p>Meanwhile, certain other alt coins are also dropping out of nosebleed territory.</p>
<p>
<div class="pull-left">
<p><img src="http://i.imgur.com/qv1Kt6D.jpg" alt="RedRocks" /><br />
<em>The price curve of BTC, as seen in nature!</em></p>
</div>
</p>
<p>The talk of <em>"speculative bubbles"</em> has been running rampant...</p>
<h2><em>Where's This Gonna END???</em></h2>
<p>Now, I'm no expert nor a psychic who can tell you what the future holds, but lets wake up for a moment and wrap a little perspective around things.&nbsp;</p>
<p>Remember the "<em>Good Old Days</em>" when we were celebrating that Bitcoin had moved above $2000?</p>
<p>You <em>DO?</em> Me too! It was <em>May 20th</em>, not even a month ago...</p>
<p>What's my <em>(slightly sarcastic)</em> point? This is <em>not</em> the end of the world. So-called "corrections" in financial markets happen <em>all</em> the time, especially after a prolonged runup, like we've been having. But that doesn't mean all the fundamental premises that led to the price increases suddenly became null and void.</p>
<p>The technology remains, the innovations remain... and-- unless we've stopped believing in what we believed in last week-- we go forward.</p>
<h2><em>P.S.: It's Not "YOUR Money!"</em></h2>
<p>
<div class="pull-right">
<p><img src="http://i.imgur.com/0M75Ktt.jpg" alt="Sunset" /><br />
<em>I don't think the sun is setting on cryptos, quite yet</em></p>
</div>
</p>
<p>I've seen quite a few people lament "<em>how much money they lost.</em>"</p>
<p>A little worry is certainly warranted but let's look at this objectively. Most people didn't "lose"any money, especially since they were probably already invested several months ago.</p>
<p>What's actually true is that you had what accountants call "<em>unrealized gains,</em>" and that merely represents numbers on a page...<em>UNLESS</em>, of course, you were trading on margin and suddenly got a bunch of margin calls. If not, however, you didn't actually <em>lose</em> anything, because those gains are not "<em>yours</em>" till you actually sell the security!</p>
<h2><em>And so, We Move Forward...</em></h2>
<p>Yes, it might seem like a rollercoaster ride... and it's a good bet it will <em>continue</em> to be. We're dealing with what is-- largely-- speculative cutting edge technologies. Investing in cryptocurrencies is <em>not</em> like investing in AAA Corporate Bonds that just stay in one place forever and always. If that's what you're looking for, you need to get out of the game before you get an ulcer.</p>
<p>All we had was a bump in the road. And if we still think the underlying premise behind cryptos is good... we keep going.</p>
<p>Watch out! Curves ahead!</p>
<p><em><strong>How about YOU?</strong></em> Does the volatility of the cryptocurrency markets scare you? Do you find yourself tempted to "panic sell" sometimes? Or are you in it for the long run, accepting the ups and downs as natural "growing pains?" Where do you think Bitcoin will be at the end of 2017? Where do you think Steem will be? Leave a comment-- share your experiences-- start the conversation!</p>
<p><em>(As usual, all text and images by the author, unless otherwise credited. This is original content, created expressly for Steemit)</em></p>
</html>

👍 teamsteem, carrinm, sephiroth, bue, themonetaryfew, reddust, gringalicious, furion, mata, sift666, apolymask, livingfree, everittdmickey, kotturinn, animal-shelter, someguy123, rynow, samstonehill, mysticegoistic, shenanigator, inber, sv67216721, raymonjohnstone, coininstant, giftedgaia, dylanhobalart, bue-witness, bhightech, runridefly, steemprentice, boy, ocrdu, taspingo, steemsports, honusurf, dragon40, sature, sc-steemit, mal402, mini, ackza, steveit, floridanow, lamech-m, daniel.pan, plantsforpandas, steemmate, hitmeasap, codypanama, tarazkp, fukako, healthcare, bunny, jaka, craigslist, hypexals-spiral, omarrium, ubg, aismor, isaac.rodebush, helen.tan, uruiamme, moon, sergey44, and 19 others

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@albertvhons · Jun 16 '17

$0.36

Yeah.. They keep dumping bitcoin now.. 

But it happens all the time!

👍 denmarkguy

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@denmarkguy · Jun 16 '17

I think there are a lot of very nervous first-time investors in the market.

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@albertvhons · Jun 16 '17

Well, they will know now! Its better to invest in long term trading! No worry! Always positive..

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@altinay · Jun 16 '17

$0.36

I'm keeping my coins always, just have to accept it (it's not that much tho xd). It sure will rise again :)

👍 denmarkguy

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@denmarkguy · Jun 16 '17

I'd feel pretty confident in saying you are right... it will rise again.

👍 altinay

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@ardy · Jun 16 '17 (edited)

$0.59

The nature of most cryptocurrencies with few exceptions means that they are very volatile and subject to speculation. If you're stuck checking the charts everyday it'll just bring more stress into your life.

👍 denmarkguy

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@denmarkguy · Jun 16 '17

There are a lot of "nervous Nellies" in the market... and they tend to have heart attacks every time one of their coins moves a few percentage points to the downside... adds to the volatility.

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@bhightech · Jun 16 '17

$0.70

Corrections just makes you stronger and its a test for those people who believe in the currency..I Belive correction is a method to eliminate those people who do not believe in the currency..

👍 denmarkguy, bhightech, vinayakn, altinay

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@denmarkguy · Jun 16 '17

$0.12

Yes, I think you're right in that it helps weed out those who are not actually tuned in to the underlying fundamentals.

👍 bhightech

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@floridanow · Jun 16 '17

$0.36

it will take many dumps on the way to $1000's more.....hold on my friend

👍 denmarkguy

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@denmarkguy · Jun 16 '17

Yes, I would not expect a smooth ride!

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@jacobtothe · Jun 16 '17

$0.76

The crypto world ended. Send your bitcoin here now! Save yourself from doom!

1E4w7mJ9SCZtcquepsFkpZMV2srgXAQZax

:D

👍 denmarkguy, bhightech, fukako

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@bhightech · Jun 16 '17

$0.14

If there is a btc doom i remember u and ur address..

👍 bhightech, vinayakn

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@denmarkguy · Jun 16 '17

Having this weird deju-vu thing here... haven't I seen that wallet address somewhere before? Hmmm....

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@jacobtothe · Jun 16 '17

Nope. I generated a new address for this comment. It's different from the one I used in my old post.

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@jorlenbolivar · Jun 16 '17

Spectacular post, upvoted! you're good at spelling. I hope to read new post yours.
Here is a lesson of life recently, so that you take it into account. Greetings. Https://steemit.com/life/@jorlenbolivar/come-and-read-this-story-you-will-not-lose-anything-and-you-will-learn-from-my-mistake-i-wish-that-what-happened-to-you-never

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@juvyjabian · Jun 16 '17

$0.49

I also noticed that everytime bitcoin price drops, all othe coin prices drops. Is this a possibility that every coin is dependent in bitcoin?

👍 denmarkguy

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@denmarkguy · Jun 16 '17

Definitely a correlation between them. What's interesting about it is that most coins on the exchanges are quoted vs. BTC, not vs. fiat currency. So when BTC goes down and alt coins are down... they are actually off *more* than BTC.

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@reddust · Jun 16 '17

$1.83

All the money I've invested in cryptocurrency came from the 5 dollars worth of steem I got when I signed up last August. Steemit has taught me a lot regarding volatility and keep reinvesting. I'm not a day trader, I'm looking for long term investments. I'm enjoying the ride and buying a little bit when the dip starts rising. It's been fun, I earned my 1st bitcoin from my sbd and steem!

👍 denmarkguy, sift666, raymonjohnstone, altinay

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@denmarkguy · Jun 16 '17

Digging back into some of my investing background from "way back when," one of the clever things about powering up and/or going 50/50 is that you're basically "Dollar Cost Averaging." When the price is LOW, your rewards buy *more* units of Steem... when the price is HIGH, they buy *fewer.* In the long run, that means your upticks (in total value) are sharper and your downticks softer. Which is a pretty good thing!

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@sift666 · Jun 16 '17 (edited)

$2.04

I'm freaking out - if I made 80% in 8 weeks but then lost 20% of that I'm ruined so I might as well sell everything, give up, and top myself!

![](https://steemitimages.com/DQmaSugHMEg3DqmaGZw42xNedT8oUpzacPmfeQhVGKnoEkg/image.png)

👍 sift666, kiwideb, denmarkguy

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@denmarkguy · Jun 16 '17

$0.72

Just pack it in!

I guess all the freaking out is also related to the fact that there are probably a lot of people in the markets who have never invested before. Newsflash: The direction isn't always UP ▲▲▲

👍 sift666

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