In this time of "tribulation," don't give in to FUD and sell your "crypto" assets!
Like many I suspect, after a lot of research and a growing excitement about what this new technology represented as an investment opportunity, I have wondered about why the promise of it has been "pounded" for such an extended period here in the first half of 2018.
What is going on?
Institutional Investments and "Smart Money"
Legend has it that Baron Rothschild said "the time to buy is when there's blood in the streets" making a fortune buying in the panic that followed the Battle of Waterloo against Napoleon. I'll leave to others, much smarter than I am, to discuss all the philosophy and strategy behind contrarian investing to which this statement is often tied.
For this post, I would like to focus on "the rest of the story" of the Baron making a fortune. At the time of this famous and decisive battle, there were many countries on edge, given what was at stake. The Baron, a shrewd businessman knew this. He also knew something else. Stated in a number of different ways in my life, I've heard the phrase "knowledge is power." In that era, the Baron had a network designed to bring him information faster than it would get to anyone else. And he knew others knew this. So ... What did he do?
Knowing "the market" in London would be watching his every move, soon after the Battle of Waterloo was over, he sold everything. This panicked others into doing the same thing. At which time, the Baron calmly bought back all that he had originally possessed and much, much more, for "pennies on the dollar."
My point? What is going on today? I've read that well known investors like George Soros and Michael Bloomberg are getting involved in the new "digital assets" market. That big institutional investment firms are doing the same. Do we ever wonder about what people and organizations like this are saying and the effect on this or any market? And then do their actions match their words?
Bottom line: Is this new "digital asset" class being manipulated? What do you think?
Long Term View
Speculative investing is always very risky and there has been a lot of "ink" about the effect of this in the big run up in "crypto" pricing to end 2017 and begin 2018.
As with contrarian investing, I'll leave commenting on that form of investing to others. Personally, I stay away from speculation. Too much of a "something for nothing" mentality surrounding it for my tastes ...
My focus is on the long term and the "value proposition" represented by this new asset class. And, after a lot of research, consistent with what I view as the foundation for good business coming to see great promise for what this new technology represents in terms of opportunities for "the little people." At some point in the future, I hope to finish a post I have begun on this.
For now, if you also have invested "for the long haul," then I have not heard anything that has caused me to reconsider my original decision to "jump in." There is no question these last few months have not "been fun," but I still remain optimistic long term. And I am resolutely determined to be patient and not panic.
Along the way, with many of you, I am doing what I can to contribute to increasing the value of our Steem Community. We're all in this together!
Closing
We are going to found out where "rock bottom" is, beyond which there is just no one willing to sell to those attempting to manipulate the "crypto" markets. My hope is this post may in some small way contribute to a few of my fellow Steemians reconsidering any FUD urge they may have at the moment to sell.
NOT investment advice. No, I don't have any inside information / clairvoyance, etc. Just one (of the "little people" ...) man's opinion, with words of encouragement and perhaps a little perspective you may find useful.
All the best to you for seeing this asset class market change decisively for the better in the second half of 2018.
Steemin’ along and on the move ... Posted (in part) using Partiko Android and (in part) using Busy.org