Wow it's grim in here. It's grim everywhere at the moment. Even in traditional money the mood is an anticipation before the storm hits. But in crypto, the mood is pretty bad. However I'm not worried, and you should be either. Here's why:
1. The tech isn't going anywhere. This is the most important thing that I feel all of us need to write next to our computers if need be. The internet isn't going anywhere, online shopping and commerce isn't going anywhere, people aren't going to stop using their phones for things. Blockchain technology can, and currently is, revolutionising entire industries. Just because the price of these tokens is low at the moment it doesn't mean that the technology and use cases is void. Businesses aren't going to not use something that makes their profits much greater due to increased efficiency and lowered operating costs. This is such an important point to remember guys, we've all speculated on the value of these things because of the technological applications they represent, and that hasn't changed or gone anywhere. At the high of the bull market people were saying invest in the tech, the same notion still holds.
2. Governments and institutional money are getting involved. China and South Korea banned ICO's only to bring them back once they had some regulatory control over them. Russia is implementing blockchain technology. The USA stated they'll relax their stance on regulations. Dozens of other countries saying they support the trading of cryptocurrencies, the implementation of blockchain technology, and healthy regulation. Additionally, Goldman Sachs, you know the institution that arguably runs the world, is setting up a crypto trading desk so their clients, big money, can add cryptocurrencies to their portfolios. JP Morgan, another Wall St powerhouse, has started to advise their clients that they cannot afford to ignore blockchain technology. Now, breathe, take a step back, disconnect your emotions, and ask yourself: Does this look like an industry that is dying? No, of course it doesn't. It actually looks like an enormous snowball building momentum. Serious money was never going to get involved in something over the course of a few months, that's not how they work and it's why they are serious money in the first place. Middle of last year crypto was a curiosity, now it's the future. Don't look at the current prices, look at what is happening in the industry. Which brings me to my next point…
3. Remember who is buying at the moment. Us super smart early adopters are panic selling, and who do you think is buying? It's can't be us early adopters, we're either selling, out of money, or holding. So who is buying this stuff over the last two months while we've all been losing our shit? It's can't be us, we don't have the volume. It's not 'sucker' regular Joe's, they are still on the sidelines cause the news told them bitcoin was a bubble. And now they are laughing, how super smart they were for not getting involved, shaking their heads at those silly crypto idiots. So who is buying? Big money. While we've spent the last two months panic selling and lamenting our lost lambos. People with very deep pockets have been accumulating all the coins we've dumped. Maybe their looking at the bigger picture that the first two points make? Maybe they have patience that extends beyond a few months.
Continued in comments because of the word limit…
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