I don't even want to check prices anymore.
I have not given up at all and do think a turn for alts is coming sooner than later but it has not been looking good this week at all. I'm seeing close to lows for some coins and it is very discouraging to work in crypto when you are paid in a currency with low value. If it does turn we will laughing but today is not that day.
But lets not be negative and think of some of the good things that come from having alts at these prices.
Buyers Are Strong Hands
When a coin gets low there is a chance that people who are buying the coins are people who are here to stay and hodl. There buyers are known as strong hand buyers which are the opposite of weak hands, who are people who sell at the first sign of trouble. When a lot of strong hands hold an investment you will see less dumps in a market that can be very volatile.
More Coins Get Locked Up
With more people buying coins at cheaper prices there can be an increase of locked up coins and a decrease of coins on the market. This will make supply low and if demand does arrive you will see a faster and higher surge of the price. Think of it like a spring that is coiled tighter and tighter.
Leo Is Still Leo
Sites like Leo still work no matter how bad the price of the coin is. Leo can be $100 or $0.00001 and the site will still run smoothly. This means we have a solid product here that does not need to be dependent on price and when Leo does go up those who earned more will see a nice return.
It is discouraging on days like today but if you keep your head down and keep working hopefully it will pay off in the months to come. But I get it if it is hard as it has been a long bad run for a lot of alts. There is only so much we can keep saying that to ourselves :p.
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One that I am highly disappointed about is BAT. The project is do damn good, circulating supply is close to total supply and the price performance is very poor. I wonder if fundamentals still matter in this market.
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At times it feels that it's only about speculation doesn't it?
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Quite often yes.
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Unfortunately it is a lot about hype that is still driving price action and Bitcoin is where all the focus is at this time. I like the Brave project, I hope it does well for you.
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Great read great breakdown. Great analysis. This could be abstracted to all markets.... please write more articles like these I'm realizing more and more that people are in desperate need of financial literacy and market theory. Articles like this help bridge that information gap. Keep it up so I can keep reblogging and teach more ppl that it's not about timing the market but time IN the market. Finance managers really don't want to have to work hard everyday... They are looking to set and forget, because if you check everyday you're working too hard and you probably should have done more research or planned better for your entry/exit points.
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DeFi appears to be losing interest with liquidity shifting back to Bitcoin.
We hope that at some point altcoins will also benefit from this upward trend.
LEO is protected by a strong community that also preserves its price 💪
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The community should go a long way to help bring value here.
Bitcoin is definitely running the show right now, we hit 15k today.
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Same for me as well, I do not check the prices anymore, I just feel it kinda gets to me, so everyday I wake up feeling the alts will come good. Leo of course has something, a structure and a framework it's marketable and the innovations will eventually push the price
I think alt coin buyers are in for a treat as people need liquidity they are dumping their most speculative bets first and those that stick around will be rewarded, I don't mind stacking coins I think will survive they'll repay you back 10 x or more I am sure of that