What a year 2018 has been so far. If you’ve been following the cryptocurrency market with some interest, you would likely agree that the exuberant elation that was descriptive of the start of the year, somewhat (or completely) has diminished into a shell of cynicism, skepticism, and worry.
So, what happened? Before we can answer this question, we must answer the question of how the wild run seen throughout 2017 happened. The 2017 run happened despite the absence of positive news, milestones, and technological advancements needed to support such wild enthusiasm. The answer to why it happened is market sentiment and FOMO.
FOMO leads to recklessness, recklessness leads to overheating in the market, and overheating in the market, in turn, leads to being burnt. Much like Icarus, many cryptocurrency investors got overly confident and flew too close to the sun🏇🏼
2018, in the world of cryptocurrencies, has been just as counter-intuitive as 2017 was. This time, however, the tables have turned, and the market capitalization and performance seems to be unaffected by the wealth of good news being published day in and day out. The technology is maturing, the applications of blockchain and usability of cryptocurrencies worldwide are becoming more widespread, and there are hundreds of companies that are working hard to put products to market that, in time, will ensure mainstream adoption and institutional investment.
Let’s start to view investment in cryptocurrencies as we would any other investment: by zooming out the graph. The compulsive price checking needs to be replaced by healthy timelines and expectations.
So, sit back, relax, and enjoy the ride. Blockchain as a technology is here to stay, and a major use of the decentralized technology is digital currencies.
We will be happy to answer any investment related questions you may have through our social media, where we have people standing by, ready to assist and educate.
You will be able to turn your daily purchases into cryptocurrency investment by downloading Satochi from the Apple App Store and Google Play stores from end-August, we look forward to seeing you in-app.