Guys, short update. I see a lot of desperation, sadness and despair right now. But in the end, this is the enevitable drop off that we needed. We are starting to fall into the bizarro-zone. 130B market cap is 1/10th of Amazon and Apple. Hell, if Jeff Bezos decided to go all in on crypto he would double it’s market cap. That being said, I am not a stranger to the possibility that the market could plummet another 50B. But for every drop we are getting nearer to the bottom, and here is how it usually plays out.
Retail investors (you and me) who bought in 2016 or 2017 and “hodled” through this one year nightmare of a market are finally giving up and throwing in the towel. People are starting to consider selling all their crypto because after all, a 100% annual return on investment is pretty good. And especially if the market goes further down. What if it never stops falling right? Now these people are OUT for good. They are NOT going to FOMO back in this time. Then the price will start to go up, and they are not interested. Then it goes up some more, and they don’t care. And then finally they realise what a bad decision they did and they buy back in at much higher prices or they stay out of investing for the rest of their lives.
Another great thing with a complete flush is that people entering the space will enter for the right(er) reasons. They will look for actual usecase this time. The mania phase of 2017 was purely based off of promises. I have to admit I lost completely grounding myself. I had no idea how far away actual usecase and adoption was.
With gambling, with gaming and with many other utilities that I don’t even see the point of trying to guess (who knows what kind of niche blockchain can serve? I never heard anyone talk about gambling. I was myself very early to realise that gaming and tokenization of digital assets would be huge alongside many others..but never did I hear anyone talk about gambling) what is next – people will join because they see utility rather than speculation.
Right now people talk about “let’s hope all the other cryptos break their Bitcoin peg”, and while that might happen and I certainly hope it does – I think we all see something much more important – that only a few thousand people really realise at this point, namely that there all ready IS a market that has decided to go it’s own way. And that is the EOS token market. EOS dapps. And while this market continues to grow and disregard the general trend for cryptos I think we can agree that we are at least sitting with the best bet here.
EOS is absorbing so much talented people, investors, traders, speculators and people just interested in better ways to profit on their hobbies as well as being treated fair and transparent. Slowly and steady does it, and I am quite amazed that EOS is retaining so many people right now. People are literally fleeing crypto, whereas in EOS we don’t really see that. Sure, we see speculators sell off EOS, but these are more likely to be people who just hold EOS on an exchange and have no clue what is going on behind the scene her. If THIS (see chart below) is the result for EOS in the worst bear market crypto has ever seen..then imagine what happens once it turns bullish. Now, I am not blindly hodling. I haven’t for quite some time. I have been liquidating a lot of my shitcoins these past months to buy EOS and invest in where I see actual utility and use case. That is the only thing that matters. If it doesn’t work out then be it. Of course, I have my own strategy within the EOS ecosystem, but that’s another story. The main point is this is where you want to be.
This is my final post on this particular topic in this bear market. I hope it’s useful for those who don’t know what to do. And keep in mind it is not advice, and please do your own due diligence before making any decision.
Thanks to EOStitan for this chart
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