As everyone churns around in "we're-all-gonna-die!" despair over the state of Bitcoin, Steem and the cryptosphere... I just wanted to throw this quick Monday morning reminder out there:
There is almost always two sides to every story.
What we're experiencing here is no exception.
Time for New Beginnings
So please do keep in mind that for every person who decides to bail out of their Steem, Bitcoin or whatever they might be holding... there's a BUYER taking on those coins.
At this point, that buyer is usually a long-term value investor who's scooping up bargains at so-called "firesale prices."
Whereas these "value investors" might be doing their best to *"time the bottom" of the market, most of them probably realize that buying Steem at 23 cents, or Bitcoin at $3,200 still might have some downside risk, so they are unlikely to be looking to "bail out" in the short term.
Which also means that every time one of these "value investors" snap a 10,000 Steem "lot" on one of the exchanges, a little bit more "downside pressure" comes out of the market.
That doesn't have anything to do with the "value" of any given cryptocurrency, that is simply the "physics" of market dynamics.
But Couldn't it All Go To ZERO?
I've occasionally seen that idea floated about... that the entire crypto industry will just decline into obscurity and be forgotten at "value = zero."
Of course, that idea is usually purveyed by those who stand to lose the most from the success of blockchain technology and cryptocurrency. It's a bit like carriage makers spreading the idea that automobiles would "never become a serious thing." Or the Post Office stating that "people will never use email on any scale."
That said, if this were 2015, I might actually see that as a possibility on the table for discussion.
But this is almost 2019, and by this time there are so many resources and so many people and so much investment in this gig that we have moved beyond the point where it is just going to go away.
Doesn't mean there won't be a tough road ahead... but "go to zero?" That option has moved into the realm of just about impossible.
Well, that's all for now! I'm back to my morning coffee, and I invite you to have an awesome week!
(And no, I am not an "investment expert" and this is not "investment advice!" I am just sharing some bits and pieces I observe as COMMON SENSE.)
Comments, feedback and interactions are invited and always welcome! Because social sites RUN on the social aspects!
Towards new horizons...
(As usual, all text and images by the author, unless otherwise credited. This is original content, created expressly for Steemit)
Created at 18117 09:00 PST