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 ]
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I think this is definitely one of the things that's great and fun with Hive! Things can go up, down, sideways or diagonal but we're, at least the ones who aren't idiots, hanging out, learning, interacting and having a good time. It's fun to cry when the river runs red but it's also good to take our mind off things by checking out some cool travel photos and stuff.
I think what I learned, which isn't easy with easy access to selling, is to not sell to try and catch trends and shit but to just buy small amounts every time we can, which is weekly for me. I'm just trying to focus on buying and holding for the future instead of trying to do wash trading. It's best for me long term! I think I've made it 8 or 9 months without selling anything to try and swing it. I sure as hell aren't going to do that at these prices so I'm just going to keep on going and hanging out with some folks on here!
And still be "in crypto" without having to move to the centralized garbage platforms for interaction :)
Selling at these prices seem crazy - even if it drops lower. Which is weird... expectations ;)
It keeps amazing me how people get so much driven by price ups and downs and don't really get to see the potential of the technology. After all these years in crypto, I have reached the point where I measure my assets by the amount of bitcoin, not the amount of USD or Euros. I can not say, I do not get slightly affected with price strongly goes up or down, but I quickly forget about the market and keep focusing on the projects going on and the industry much more than speculation.
Precisely!!
This is why participation is so important, as it gives projects to focus time and energy on, not prices. :)
Lol, slippers of truth. But where is the bottom 😁? And will this dip wait for couple of days, I have reedemed some MF's?
The dip might wait around a few months! :D
Nothing can increases forever. People should know the points where to sell or buy. Those who act according to others's words, but not to their search are not investor. The key is that however accurate is the project we invest in.
It is a little like the blind following the blind, or leading the blind at times - but, that is part of the speculation too :)
There is always, it seems, use case talk about tokens and crypto. It has taken a little bit but there are more and more sites trying to emulate Hive, but they seem to be centralized in one manner or another.
I was sort of enjoying the drop in Hive. I see the price of Hive as being close to the low point for the year. Just speculation on my part, however with the advent of HF26 coming, and changes to the resource credit usage, I think we have a potential to really help people stay with Hive instead of getting frustrated at the inability to do anything because they ran out of resource credits.
The resource credit delegation and possible other uses is going to become very important. I do not have a lot of resource credits, but the only time they drop into a few days recovery is when I buy account tokens. So I have a lot of unused RC's, which may or may not be able to earn me more Hive in the future.
More people will be able to join in on the fun.
Decentralization of a community like this is harder than many seem to think - especially when there is development and funds to consider.
Is there a soft date yet?
For sure. It has a lot of potential for innovative design too.
Next core developer meeting is set for Next Monday. I never catch it live, but I do watch it when Howo gets it posted. We may know more date wise after that meeting.
Price predictions, I laugh. I can only imagine what the naysayers have to say about the current low price. Hive makes it all bearable.
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Someone was talking about the low price today - my portfolio is up about 500% over the year ;)
😆 would you look at that
Hi @tarazkp
I think this is a very important point.
If you stand on the outside of the store looking in through the window at the price of an item you have never held, or used, what is it's price other then a random number. But if you go inside the store, pick up the object and use it, you realize there is more to the object then it's price, it has value, but you don't understand it's value, until you understand it. Price is what you pay, value is what you get.
@shortsegments
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I think a lot of our experience is having the value mechanisms twisted, so we no longer evaluate what is valuable well.
It is a 50-50 scenario when the price is down because when the market shows red in price is definitely a good time to invest more for future purposes
flip a coin, eh?
To Predict something is so tough and about crypto it is so hard. Lets see what will btc and others do.
Will you make a call on the bottom?
Weather down trend or uptrend,a forex trader will gain.
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do you trade forex?
Yes
Posted Using LeoFinance Beta
funny how crypto deals with coins , a coin has two sides they say. Today prices up , tomorrow prices are down but one thing is certain, the risk we take is always certain, isn’t that what brought us here in the first place ?!
Risk is a constant - there is more or less, but it is always present.
Lol, slippers of truth. But where is the bottom 😁? And will this dip wait for couple of days, I have reedemed some MF's?
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There was a time when one could invest in the markets and over time make money. Today investing has turned into speculation... and a market casino. Wisdom helps in playing the market. But they are such a gamble. Dollar cost averaging helps to diminish the risk.
People really need to work on their patience and start thinking long-term, this alone solves a lot of problems. I'm new to this cypto scene and even I understand and see the long-term benefits. I guess it's just how I've been shaped by the lessons of life. Proper progress and the good things in life surely does take time.
Asking the guy who doesn't predict but knows about crypto is the new asking the person who can do some stuff on a computer to fix the computer XD
Yay, to a green floor! YaY