This past morning before I left home for my first dialysis session treatment of the week, I had set-up a stop-loss order for selling some XRP that I had at a certain price point because I am actually anticipating that XRP token would pump because it is no rumor that Mr. Brad Garlinghouse, the chief executive and owner of Ripple the cryptocurrency company would be shown to the "60 minutes" television magazine show. However my expectations didn't came into fruition because right at the moment of the show the price of XRP reverted back to its previous level with is around $2.4.
Little that I knew that XRP's price actually had pumped to $2.62 already prior to the airing of the 60 Minutes show interview. Now that is actually the pump because the price of XRP is now back to its swinging price of not more than $2.4 dollars. So this is now a case of what the title says "Buy the news and sell the news" whereas the usual phrase is the "buy the rumor, sell the news" because in this example, Mr. Brad Garlinghouse is certain to be shown in that past 60 Minutes show.
Well, that is OK for me that I wasn't able to meet my expectations of selling at a high point because I plan to rebuy when the supposed "sell the news" part happens but I was caught by the opinion of others that XRP might pump as the show is being aired. I wonder who of you that I hope reading this post has the same expectation like me in this instance. This is why we really cannot time the market especially most of us are not expert in this field of "work".
I myself often contradict what I am saying for what I am doing because sometimes the facts are there and I would plan my action, however due to my impatience, my plans would be set aside which is why I would often miss gains than I would normally get. What is good is that at least I am gaining regardless and earning because of the nature of my hobby/work thanks to economy of Steem where if you actually have accumulated a substantial amount of Steem power, the money will roll in even if you do nothing and that is very true because STEEM power or SP gives you dividends every second.
The thing with STEEM power is that if you have lots of it, you can earn a substantial amount per month due to it's inflation rate and this is the beauty of proof of stake coin. However if the value of STEEM grows, the investors would have a hard time in buying it. We can only buy lots of STEEM token during the bear market which is why it is important for those would be investors to wait for those moments during the cycle of boom and bust of Bitcoin. But before the bear market happens we must of course have the necessary funds to buy-in whether it would come from the profits from the previous bull market like what is happening at the time of this writing and supposedly last in the next few months, it is up to the investor of course on where to source his capital.
With that being said, we can realize that we can just do one single step, to buy when the prices are low which is in the bear market and sell them when the prices rose again and that will take about one Bitcoin cycle to complete you one time big gain and rise and repeat rather than chase pimps and dumps and make you feel pressured and edgy and might even cause your health to suffer, but with one time bog time buy at a low price, you can even multiply your gains much better than being in the markets all the time.
Disclaimer: All of my opinions here should not be taken as facts, please do your own research (DYOR) before involving yourself in the volatile nature of cryptocurrencies in order to avoid potential financial losses.
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