These Are The Times That Separate The Successful From The ReststeemCreated with Sketch.

in markets •  13 days ago 

Baron Rothschild is cited for saying "buy when there is blood in the street, even if it is your own". Whether he said it does not really matter.

It is the message that is delivered that counts.


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These are trying times. Across the world of crypto, there is slaughter. Our favorite crypto price listing sites are mired in a sea of red. Bitcoin is going to $1,000 according to Peter Schiff. Many are bailing, citing huge losses.

We are simply seeing the sky fall.

Right now is when wealth is generated. Everyone heard of the "buy low, sell high" approach. Well, to do that, first one must buy low. Are crypto prices low enough?

Most are not successful because they are driven by fear. They buy into the FUD that is espoused by others. The successful ignore all the noise and make sound decisions on their own. They look past the fear and take action in spite of the fear that exists.

It is not easy. The masses prefer to remain safely on the sidelines. Of course, when things do turn, they are the first to blast those who succeed. "Look at how lucky they are".

I recall have conversations in the past about Steem. There were many who called the larger accounts lucky because they could buy STEEM under $.10. Of course, to be lucky, they had to buy at those levels.

Ironic, since we are near them again. How many other people are going to be "lucky" by buying? I wonder how many of those who levied those attacks are now taking advantage of their newfound "luck". I am sure very few still remain.

It is often said that opportunity often comes disguised as risk. Is crypto too risky or is it a grand opportunity? Perhaps they are one in the same.

There are going to be many who successfully navigate the present waters. How they do that is not for me to say. I do not have the road map guaranteed to success. We each have to do our own research and take the actions we feel best. It is vital to know that, with prices where they are, some are going to make a fortune.

The masses tend to prefer to buy closer to the top. It is amazing how the crypto world was full of activity near the all-time-highs. Steem was hopping when the price was $9. Now that it is near 10 cents, it is a ghost town. I wonder what impact $5 STEEM would have.


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One of the biggest problem people make is looking to others for validation of their views. Few are willing to stand alone in their beliefs. In a situation like this, people look to the market action as a means of validating what they believe. If the market goes up in line with their buy, they can say they were right. Of course, when the opposite happens, it is a mess.

I try to focus my articles on what I feel to be important. In an arena like this, one that is based upon technological development, the pricing action is of little use. To start, as I wrote the other day, the crypto market is full of manipulation. Hence, it offers little value in discovery.

At the same time, markets have proven they are awful at picking technological winners and losers. I recall the dotcom bubble and what happened there.

Let me ask you a question: what do you think people prefer: $500 Yahoo or 10 cent STEEM? Which is a better opportunity?

I can tell you, there were a lot more buyers for $500 Yahoo. When the company was sold to Verizon, it went for $53 per share.

Crypto is not the only arena where we see 90% drops from all time highs.

Nevertheless, we always see more buyers when things are peaking as opposed to when they are bottoming.

Therefore, those who succeed do the opposite. Buying Yahoo at $500 is obviously not a path to success. So what is? How about buying Amazon at $7? That would be a way to make a lot of money. Of course, the would have required getting in when it was relatively unknown or when it dropped from over $100.

How many do you think either held through a 90%+ drop or bought after such a pullback? I can tell you one who did: Jeff Bezos.

The point of all this is the fact that the path to success does not come from following the masses. It is the successful to take advantage of times like these, where opportunity is presented.

Let me ask this: if STEEM was a good buy at $1 (or $4 or 80 cents), then isn't it a steal at 11 cents? What changed between then and now? Did we see a lot more development and advancement over the past two years?

Or is it the fact that the pricing action says something contrary to that?

I guess it all comes down to what people want to focus upon. History shows the masses feel success is in the likes of $500 Yahoo. That same history also shows how short lived that really is.


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Buying the dip or “when blood is in the streets” is only useful when your coin survives and rises again. But thats the problem. We have no way of knowing which coins will survive.

If they finish the stuff they said they would have finished 2 years ago I am very optimistic... the EIP was one of the worat decisions tgey could have taken... They should get back to linear rewards asap.

@ned dumped everything he has, knowing the current team as well... 😳

https://steemit.com/steem/@mexbit/under-current-market-conditions-and-eip-steem-soon-0-02-usd

https://steemit.com/steem/@mexbit/under-current-market-conditions-and-eip-steem-soon-0-02-usd

Thanks for the pep talk.. I was beginning to doubt even though I bought STEEM 2 days ago.. and LTC yesterday..

Keep buying if you can! I considered not getting a turkey this year but don't want the kids to remember "that thanksgiving when mom bought a big chicken" LOL.

Although its a heluva investment right now!

That's better than The Thanksgiving we went to Burger King

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So, so true...its the retail investor mentally the prevents many from acquiring financial freedom.

!trdo

I usually have a similar opinion... but this time I really am convinced that you can get much more for your money just by waiting a few months more.

The reason which I think is mentioned here:

https://steemit.com/steem/@mexbit/under-current-market-conditions-and-eip-steem-soon-0-02-usd

  ·  13 days ago Reveal Comment