Saturday Bloody Saturday
Hey there fellow Steemians. It’s Crypto Gawd once again with a post on my favorite subject: Crypto!
Well, it seemed like a bloody Saturday for Cryptocurrencies today as over 90 cryptos were in the red. But, that should not be a concern. As Baron Rothschild, member of the Rothschild family (richest family in the world; trillionaire status), once famously said:
“Buy when there is blood in the streets, even if the blood is your own.”
Him, Rockefeller, and Buffett (to name a few) all believed in contrarian trading. They go the opposite of the crowd. That means go against the grain. Buy when everybody is selling. Sell when everybody is buying. Those are some good role models to follow, don’t ya think?
While it may seem all doom and gloom in the cryptocurrency world right now, it’s not. It’s actually the best time to buy right now. So, don’t sweat it, even if your altfolio looks like a sea of blood today. What you should be doing is stacking more coin. Your future self will thank you for it. Trust me, I know what I’m talking about (most of the time.)
You gotta understand that there will be dips and peaks in this industry. It’s part of the game. It’s what savvy investors live for.
If you are a forex investor (or even paid attention to any financial news), you may have remembered the great “Brexit” panic of 2016. That is when the United Kingdom declared that they would separate from the EU (European Union.) You know what happened to all the Euro and GBP (Great British Pound) currency pairs? They went to shit! I mean full on tank-mode. All the longs were pissing their pants. Some reacted even worst than that.
Because, there was so much uncertainty in the air about whether or not those currency pairs like the Eur/USD, Eur/JPY, GBP/USD and GBP/JPY (to name a few of the more volatile ones) would recover. So, almost everyone was selling off those pairs cause they were crashing and burning. You couldn’t blame them for they knew no better. And, it did look pretty bleak for the future of the EU. Smart investors- the elite few- knew better. They started buying those pairs up like they were lightning deals on Amazon.
Change gon come..
Guess what happened a few weeks later. Full rebound baby! That’s right! All the smart money got in when this currency crash happened. Because, they had the foresight to see that this wasn’t the end of the world. Quite the opposite. It was the beginning of a beautiful thing. They stacked their portfolios to the brim with GBP and Euro pairs. Their foresight was rewarded handsomely in profits and increased pips (the amount of change in the exchange rate for a currency pair.)
This mini-crash reminds of that kind of. I call it mini because it isn’t that big of a crash and even as we speak a lot of the cryptos are reversing. In my opinion, we haven’t seen the big crypto crash quite yet. Although, be assured, it is coming. Warren Buffett, the best investor alive, once said this:
This saying is as true today as when he first spoke it. Don’t be caught on the wrong side. Be patient with this game and the game will reward you. The world will be your oyster. On the flip side, panic like a chicken with its head cut off and you will become lunch meat. The Oracle of Omaha does not lie, especially when it comes to investment advice. I wholeheartedly believe if Warren was younger, he would be going full steem (see what I did there haha) in cryptocurrency. I would bet the farm on it. At his advanced age, he doesn’t really need to worry about growing his investments. But, we the future of investors do.
The long game
Keep in mind that investments (especially crypto) should be thought of as a long game. It’s not a pump and dump. Some are and for a short time, it bodes well. But those that adopt the Buffett policy of “invest in a company you believe in and hold forever” will benefit from this ethos. If you want to make a quick buck off investing. I wouldn’t suggest crypto. You might be better suited for penny stocks (notorious for pump and dumps), option contracts (shorting a company’s stocks aka “puts” and going long on a company’s stocks aka “calls”.) Or even forex trading, which is the biggest market of them all with nearly 6 trillion dollars a day being traded on the foreign exchange currency markets. Those three are better suited for investors who want a quick flip.
I’m still involved with those types of trading models as well. But, I feel like a trader reborn with this new crypto-boom. And I’m going long like Tom Brady to Adrian Gronkowski with these trades. I’m talking holding my alt coins for months to years without giving a fuuck lol.
Now, if you want to be like the Crypto Gawd, you will think without fear of the volatile markets. You will have foresight beyond the masses. You strive to be a contrarian investor. You yearn to play the long game and ignore the doom and gloom of the financial headlines that flood the media. Finesse this game like the elite do and you will get paid like the elite do. It’s gonna require Shaolin monk-like patience. But, it will be well worth it once you are on that yacht with all your sexy models having the party of your life with all your crypto earnings. You can do like Drake’s debut album and “Thank Me Later.”
Everything’s gonna be alright
So, my fellow Steemians, I implore you to ignore the dreadful headlines. It’s not doing you any good worrying about something you can’t control. It’s not gonna be red forever, nothing is. It’s only temporary. All it’s really gonna do is create unnecessary stress for you. Go outside and enjoy the beautiful day that has been bestowed upon us. This too shall pass. We will survive and thrive beyond this. It’s what separates the winners from the losers. And, you are a winner? Aren’t you?
Crypto Gawd, OUT!
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