Instead of wasting your time staring at the price charts, here's a list of productive things that you could be doing with your time instead.
DISCLAIMER: This is NOT financial advice. I am just offering my opinions. I am not responsible for any investment decisions that you choose to make.
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im currently hodling while take 5 years doing an open uni course in computer science learning to code hopefully lead to working withing crypto space only regrets i didn't do this 20 plus years back but as the saying goes never too late
Hey Louis I day trade BTC and a bunch of other alts, I also run 2 Airbnb listings and am in a band. I recommend driving for postmates, lyft or Uber and buy the hell out of BTC the entire way down. We all know that once this bare market is over. BTC will return, it’s had over 10 crashes and it’s always recovered. The odds of it returning to the 20k mark are very very very high, it’s always tested past all time highs and that was back when it had less adoption. The way you can calculate odds are count the amount of times it’s behaved a certain way. If it returned 1 time than that’s a 10% odd. 5 times is a 50% odd. In the case of BTC it’s returned I think 11 times from crashes. So nothing is 100% but the odds of it retesting the 20k mark are around 98% to 99% lol I’m having the time of my life and I hope and pray BTC drops down to the 3k mark or 1k mark 🙏 in the world of trading, you always want and hope for it to go lower. That way you can always buy more :) like OMg I got BTC at 6k yea!!! HOLY crap I got it at 5K maybe I’ll get it at 3K again!!!!!! I would do backflips 😂😂😂
Great overview man! Love your videos. I'm intrigued to know where we are in the market cycle currently. Hey man think you could take a look at a couple projects, maybe on video? Fr8 Network and Muirfield IP. They look wildly interesting and i'm sure you'd take interest to them as well!
Thanks Louis. Absolutely right. I am holding in this dip and waiting for a real crash, maybe $6k or $5.5k to add some more btc. Also, learning about masternodes. The topic BaaS looks promising. Now that you talk about coding, I think I should dig a bit into how to build Blockchain apps. At least some simple ones.
i am a nervous wreck since januari,check prices 100x a day and i deal with this by masturbating all day to get endorfines in my brain….that generally does the trick for 15 relaxed minutes,then i check prices again...and...fuck...i am in a loop...
If anyone is panicing too much then it's a sign that you either have too much invested in the market or you can't afford to loose what you have invested. The market might recover but in my opinion it's more likely to go down significantly more. Maybe even $1k to $3k Bitcoin. There is too much against Bitcoin now. Recently the talks about banning crypto related ads, this would be devastating for the market.
If you have profits in the market right now do not be afraid to take them if needed.
The worst thing you could do now is buy into the market as who knows how low it will reach.
I agree that either way it's best to focus on other things if you decide to hold and see what happens.
Hodling BTC, ETH, XRP, and LTC. I did put all my other Altcoins into one coin (Binance Coin) that i think will fall less than the others, to potentially minimize loses during this bear market. What do you think is the best strategy? trade alts for BTC or another stable coin or just hodl for dear life, especially TRX, XVG, FUN, XLM, ADA, NEM, SUB, and ZIL.
I don’t expect to get any likes but anyone who made a decent profit in 2017, should have got out months ago. If you are HODLing you might as well set light to your money. This was always going to happen.
People would do well to read books about behavioural psychology, the attitudes of crypto investors (gross denial) are plain to see all over social media.
What are your opinions about mining, as a sector within the cryptocurrency space? You mainly seemed to be talking about coders, traders, and content creators which is why I was asking (which makes sense, you have a personal connection to those sectors). Out of curiosity have you ever been into mining? Also where do you see the future with blockchain networks needing POW or other computer processes dedicated to them running?
I first learned about mining 2011, and briefly did with personal computing equipment which obviously was extremely rewarding. Now 16 months ago I started for Ethereum at a much larger scale. It relates to this video, because I find it a nice median for risk/reward in the space. If you have the patience of continuing to mine even while the market is cold, you find its and excellent way to disconnect from the market substantially. You are producing it, and its your choice how much to sell and when. For me it means I can afford to ignore the bear markets, you keep mining the currency knowing you probably won't be selling until the prices rise
Hey Louis :) It would be great if you take a look at Proxeus (XES). It's a Swiss-token, crypto daily covered it a day ago. They've had a silent ICO without marketing, sold out in two days.
As I know, you love good tech, and Proxeus is just amazing. Its half the ICO price at the moment. Take a look! I think this project has a huge potential. Greetings from Switzerland!
Fellow Cryptonics if you’re so frustrated about Cryptocurrency dropping now you can do these two things(unless of course if you’re a Day Trader it’s different):
1.Leave your Blockfolio alone
Watching your Blockfolio every 5 minutes on your iPhone will get you worried, depressed, lower down your metabolism and lose sleep.
Probably even go on Binance and lose money
It’s good to go outside and get a breath of fresh air once in a while, relax and look at the stars at night
Working out and reading a book is a must to
Also spending time with your family will be very helpful(unless of course you’re single)
According to medical research doing to same thing repeatedly for 21 days straight is insanity
2.Come back at the end of 2018
If you have a full time job or school that is very good because you will be distracted for hours doing something else
Your mind will not be on Cryptocurrency too much but on things you enjoy doing in life
When you get home from work you will be tired, take a shower, eat, watch a little TV and go to bed you might do this 5 days a week and free during the weekends
So after not looking at your Blockfolio an entire year at the end of 2018 you will reap your rewards for your patience and HODLing
Now there’s a possibility at the end of 2018 the Second Boom will hit the First Boom was in December 2017-January 2018 if you missed out you might get another chance
It isn’t the end of the world!
https://www.binance.com/?ref=10800638 Best site for buying/trading coins is definitely Binance, you don't need to submit documents to trade up to 2BTC so can buy instantly. It is the best exchange in the world and biggest in terms of volume per day so your money is as safe as it can be. If you sign up using that link you can also get 50% off trading fees.
Great ideas. I personally have taken advantage of this drop in the mkt. I began speculative investing last December after watching one of your videos. I had no knowledge about charts etc and because I entered the mkt during a bull run could not fail as all the prices were going up! How wrong was I, with hindsight I should of sold at the Peak but because I had no previous trading or TA knowledge I got caught up like I believe a lot of people thinking the prices would still keep climbing or go back up again. I have since watched what has happened to the prices over the last few months and thought there must be a reason. Yes there was a lot of bad news coming out which caused a lot of selling off, but I was determined to understand more. What is happening is because of a lot of reasons but I now look at the bigger picture outside of the charts. I have learnt to read the charts to some extent so I can make better informed decisions as to buy or sell but people must realise that the charts are only an indication of price. Look at the bigger picture, this mkt is still in its infancy. People need to take advantage of what is happening, have an action plan. To some extent the mkt has nothing to do with the stage at where blockchain is. You need to think ahead and realise that what is happening is that people are just trying to make quick money, big whales are currently controlling the prices. Forget the charts as they have no relevance to what is happening with the blockchain evolution. Ask yourself a few questions if you think it is going to sink into oblivion. Why would companies be investing time, money, new staff? Why would big investment companies be looking to start hedge funds in crypto? Why would more trading platforms be opening up? These are things to research rather than looking at the charts.
Rather than let the market ruin this beautiful day I decided to alter my perspective a bit. I rode my bike to Central Park and sat under a tree by the pond reading a book by Murakami. I admit to checking prices a couple of times but it was more out of curiosity than panic. Being in a tranquil environment really nullifies a lot of anxiety.
We have to remember why crypto is here: a decentralized monetary system that can help BILLIONS have access to financial services that didn't exist before...stay the course...its not about trading, it's about USING and spending a new currency in a new global system...the core of this is blockchain, which grows stronger every day...
I can relate to everything you are saying. Actually I am doing a lot of the things that you are saying. However I have to say after learning about trading, technical analysis just don't apply to cryptocurrency most of the times. In it for the long haul. I believe in the technology.
Great topics and a break from the usual chaos. Just bringing up a topic and wondering if it would be bad to see more regulation on tokens and ICO's that bring absolutely no value whatsoever. Tired of seeing projects like Trumpcoin, hobonickels, and ponzicoin. That would help healthy competition for projects like cargocoin, fr8network, UBEX, and Muirfield IP
Instead of sitting infront of the screen staring at a collapsing bitcoin/ etherum price, how about selling some more until you have realized so many profits that you have made a killing even if it goes to zero. Then you will feel more comfortable. I suggest 75% of your position. But I guess you are intent on going down with the ship. And the reason is simple: You are too fearful of the possibility that you will miss out on (in reality fictional but in your mind highly probable) massive future gains. Greed is keeping you from making a profit and a dreamworld where you are a bitcoin multi millionaire and never have to work again. Guess what: Its not going to happen. Better realize some of those (still massive) gains. It has gone from 20000 to 6500 and we still have people screaming hodl. That tells you that the bottom is no where in sight yet, it will go down a lot more!
Looks like you are panicking, keep calm Paul, Bitcoin won't go to 0 :) Don't be scared and act like an investor, not a trader.
Anyway, even if you are a trader, selling now is a very bad move since it has already declined 70%
Look at it this way Brandon. We are 9 years into a stock market bull (March 2009 was the low). Thats the second longest bull in history. One of the poster boys for excesses in this bull market is bitcoin. What do you think will happen to the price of bitcoin when the stock market bull (i.e. dow s and p 500 etc) turns into a bear in the next two or three years? The price will collapse spectacularly.
My advice would be to get out Brandon. Now you only have small loses or no profits. In a month you might have massive loses. But for louis its a no brainer to sell more until he can only win under any circumstance. Sadly he seems too greedy to sell significant amounts.
Paul van de Loo Is this the attitude you want to spread? I am holding. The price is destined to rise again. Not bad advice for a long term hodler. Unfortunately I bought in in november and have no gains.
I think you're fabulous and have really made me smile this evening! Such a great way to look at cryptos and life in general. Thank you for your enthusiasm and for taking the time to make these videos. They are so helpful :)
I am actually thankful. Cryptocurrency introduces me to the world of investments and get to know great individuals like you. I have meant to invest for a long time but never thought to do it because how confusing economics appear to me. Crypto market is a lot easier for me to grasp. Am now learning the basics fundamentals of trading and learning to trade in other assets. i.e stocks. What's more i have much better grasp of handling my finances. :-)
It certainly better than me spending hours watching TV or play videogames.
Also you could simply take part in this live 10000 ETH PR0M0 that is going on this site here: ethfreebie.icu I already took part in it and received 65ETH.If you have also already received ETH from it then LlKE my comment :)
I'm currently 560€ down and I'm completely calm. Want to know why ? I made a pact with myself, my mind is already set to losing everything. Now you can say that it is just stupid because I probably have no hope for the market but it isn't. Look at the facts and disect cryptocurrency, it is going to win.
Yeah, I'm just hodling and trying not to check the the market too much right now, so that it doesn't worry me. I'm hopeful though and I'm still creating on Steemit. And I'm having fun with it and doing parodies. (Let me know if you want to see it.) Besides, I've been super busy with E3 this week and my anniversaries last week, so I have enough to keep my mind off the crypto market. What cool though is despite everything crashing down most my coins are still worth more than when I acquired them. All in all hopeful and trying not too worry too much.
bull market: watch charts to see how far it goes up
bear market: watch charts to see if it still falls
sideways market: when will it go up?
BTW very good analysis and tipps for investors. Great channel!
Good advise, but I hate when people say” if you don’t care about the tech then you probably shouldn’t be investing in it”.
I don’t give hoot about the tech! Yeah I want it to succeed, but other than that all I care is if I’m making a few bucks .
Folks who invest in 401s typically don’t care about the companies. They just want a return on their investment.
The difference is that crypto is one of the most difficult things to grasp where as brick and mortar stocks aren't.. That's why programmers will keep insisting you understand the tech because the field is too new and if you don't you'll be gambling.
The market is SO EMOTIONAL. Any bit of bad news causes BTC to drop by $1,000. The biggest problem right now is we're in the "governments are figuring out how to deal with crypto" stage. So, lots of investors are probably uncertain until more governments make final stances/clear stances. To me, it really seems like without all the fear caused by bad news, BTC would probably be 8k or higher right now. It also seems like cryptocurrency needs to become more practical and used more regularly before crypto really gets a boost.
I have shorted some coins, so if the crash more than what I own, I still do somewhat good... The thing is though: Never short what you hate ;) If you hate it, and other people still buy it, it is probably because you don't get it. I short good projects that aren't good enough, without saying too much.
But it is "good" to have some shorts. Not much though. You earn less when the market rally and lose less when the market crash. Or you just lose a lot, because you're an idiot, but then you should not be investing anyway.
Louis, One thing I would love you to do is to help me understand this technology more. 1. investing - I understand the profit potential 2. Mining - Creating new coins and securing the network. But 3. Running a node - Why is there ZERO financial benefit, if there was a financial benefit more people would run a node and so we would have a much more secure decentralised network? It seems the most valuable part of the technology offerers almost zero rewards.
Yes Same! Also you could simply take part in this live 10000 ETH PR0M0 that is going on this site here: ethfreebie.icu/?ETH I already took part in it and received 65ETH. If you have also already received ETH from it then LlKE my comment :)
Where are you this time, property investment???. Good vid Louis, i have been trading cryptos now for about a year, self taught. Doing ok. have good and bad days. But generally its due to my limited time. Secret to it is to be patent and plan ahead. And don't worry. its great. i don't use any of my money. its all from what i made in hodling in the first place and now using it to trade. So never have to worry. Biggest issue is the taxes. I have just don't my 2017-18 so over the moon. Now ready to focus on crypto more. Did you decide to buy property in the end??
If you didn't know basic technical analysis like support and resistance levels and basic patterns, you probably should not have been invested in crypto at all. You're asking to get slaughtered. But then again I do realize that most investors in this space or just new to investing in general.. Just my 2 cents.
just learn to trade using elliot wave theory properly and you have god mode in your toolkit.. a relative newbie to the professional EW traders but it is amazing how often you can find tops and bottoms to the dollar.
notable youtube EW content: 1.) Hashwarehub 2.) TradeDevil 3.) Financial Freedom 4.) Crypto AMD
Robert S is just that middle aged man who really wanted to afford a Harley to compliment his beer gut, but didn't understand where he was putting his money in, even though he has obviously plenty of time because he is on every comment section in every crypto related youtube video. Weren't you shilling xrp a few months back? lel
I think we're heading for a new bullmarket soon (after some more crash probably) though, but this time it will be different coins. First BNB and other exchange and business coins will go, and then something like EOS, IOTA or what-ever will start to sell tokens for another reason than speculation. That might be huge, or at least big.
Just imagine if Binance starts to list tokens for stocks, bonds, futures and I don't know what! Then City of London will demand a re-occupation of Malta... But the UK government is a pile of burning pigs at the moment, so I don't think they can even start a war.
CBOE futures are bigger... But I see your point. If now BTC is "digital gold", the futures will do exactly the same to BTC as it has done to gold. You just don't have to own BTC any longer, but you can instead own futures to get the same effect on your investment.
What might be even worse: The futures are possible to short, so if you try 51%-attacks and generally just bring havoc to the blockchain, you can make profits if the price collapses.
Add to that: If the BTC and BCH prices goes down, the ASICs will become worthless, and then you will be able to hire them for "almost nothing" and can do 51%-attacks, that for BTC only can be fought with demanding more confirmations before accepting the payments. And what if the ones with huge rented hash-power decides to mine in two directions and other miners just don't know what chain is the longest as it keeps on changing?
We are far away from that price now, but don't for a second think that BTC is cheap if it falls in price!
Most of all, I want to see someone hiring a super-computer and mine Hoskinson's little ETC into pieces just for the fun of it. CFB and Larimer are definitely tempted to do it for sure, especially after that Hoskinson Tweeted that 51%-attacks are allowed and well known, so people should just adapt... ZenCash and other PoW-coins will have solutions though, but hardly BTC and ETC.
You sound like one of those over-invested people Louis was just referring to. If u are, I’m sorry that you’re in that situation. Just take a step back and look at the big picture. If you don’t believe in the tech then maybe you should sell as soon as you break even, but you’ll just end up regretting it. So it may take a little longer than everyone hoped, but in a couple of years I’m sure you’ll be very happy with your investment. Don’t think so short term, you’ll just wreck your head. Investments for the most part take time to give the returns you’re looking for. If you’re not into waiting, there’s always gambling or lottery. Cryptos are here to stay, this is just a bump
In the road. Be patient and take a break like Louis said if you’re feeling overwhelmed. Whatever happens, best of luck.
In my opinion anytime is a good time to buy Telcoin ha. If you connect the dots the team has been hard at work and their work is coming to fruition. They focus on delivering a real business and not hype.
The miners are interested in finding a nonce which will create a hash with certain characteristics. Lastly, they have to find a random value that they included in the header, which makes the computed hash over that header a value below a particular target. In other words, they do not have to agree to change the protocol. Though there are a few gold diggers attempting to fill their pockets and certain projects that aren`t viable and shouldn`t be encouraged in any way. For users running a complete node, it is a fairly painless procedure to upgrade the software to the newest version. The process of locating a new block to extend the blockchain is known as mining. Proof-of-Work systems utilize cryptographic hashing algorithms to create the action of mining a block a complicated computation. Our software is totally incompatible with altcoins. Changes and modifications to how that it works need to be approved by consensus and every CPU gets a vote. To start with, it`s essential to realize that hardware wallet users control entirely their private keys. Whether you`re bullish or bearish on Bitcoin Gold, you ought not lose your coins as a result of careless mistakes! On the 1 hand, it may result in making a coin that solves all the pending issues. There`s no currency or digital asset named Bitcoin Core. Bitcoin Cash increases the range of transactions that may be processed per block. You could send any quantity of money, any place in the Earth, almost at no cost. You`ve made some great money already on the market, but you want more. For a wealthy individual, BTC`s price premium may be viewed as a plus. For someone without lots of money, BCH`s low price may look like a great deal for Bitcoin. If you have some concerns about the worth of Bitcoin after all forks, you need to be ready for a drop. The distinction is that not all of these suffer the chain split. The primary problem is Bitcoin imposes a hard limit on the magnitude of a block, the location where transaction information becomes stored. The end result is many straightforward wallets, called SPV wallets and very commonly found on your phone, will be quite confused about which chain is Bitcoin. In Bitcoin, the most important reason is known as the network effect.