BLURT's price relative to other cryptos just hit a new all-time low! This comes just one day after Bitcoin ETFs were approved, sending the BTC price down several thousands dollars. But BLURT fell even harder, outpacing the losses of most other cryptos, to reach the lowest price against BTC since it began:
The good news is, anyone holding out to buy BLURT can now do so at the lowest price in history!
But for those of us who have been buying and earning BLURT for a while, this is pretty upsetting.
For example, when I left HIVE, I had a choice. (I don't have a bank account, and can't convert my crypto into fiat currency, so it has to remain in cryptocurrencies.) I could either park my savings in BTC, or I could get involved with the Blurt blockchain. I chose Blurt, and I put my money where my mouth is. I used my HIVE to buy BLURT tokens through 2022 and 2023. I also worked nonstop to produce more high-quality content than pretty much any other Blurt user, building my way to 1 million BP by the start of 2024.
Unfortunately, had I just parked the funds in my BTC wallet, and spent the past couple years with my children instead of trying to earn a living on the blockchain, I would be able to use it today to purchase much more BLURT than I have now.
I came to BLURT with almost $20,000 USD worth of HIVE. Luckily, I didn't spend it all on BLURT right away - I bought on price dips, here and there. But if I had just saved my money until now (BLURT price hit $0.00233 today), I could buy 8,580,000 of them.
If only I had been in a coma the past 2 years, I'd be 8 times richer!
So I guess the question is... do we keep holding this bag?
Let's have a look at BLURT priced in dollars.
You'll notice today's move (a drop from 0.0033 to 0.0023 USD) is one of the worst of the year.
There have only been 3 other times that BLURT was this cheap, priced in fiat:
A momentary glitch in the opening days of the blockchain, a flash crash on January 1st 2023, and a few weeks this April/May. Otherwise, BLURT has always been worth more than it is today.
Hope?
But maybe there's hope? Perhaps this is as cheap as it's going to go, and will later be seen as a buying opportunity?
Let's consider that BLURT hasn't been around for a full 4 year crypto cycle, yet. It's only 3 years old! So we need to wait another year to really see how it's going to move in relation to the rest of the market. The "alt coins" typically do well LATE in the cycle, while Bitcoin does well early on. So let's not count BLURT out yet, even though things look pretty dire at the moment.
DRutter
....'globetrottergcc' and the selling of massive amounts of tokens this last week is the main reason, more the the etf (relative to liquidity/volume).
...hmm....
I think it will bounce back before the final suck out (april/may- ish possibly, depending on external events)
Well, yes, technically it's true that the selling of BLURT is what causes the price to go down. That's true all the time, not just right now.
I guess what I'm talking about is the fundamentals that might be responsible for the increased selling (and resulting lower price). Since the BLURT price drop happened at the exact moment as the BTC price drop, it's unrealistic to assume they're unrelated. Most likely, the BTC selloff caused a liquidity crisis and holders of other tokens had to sell to buy BTC. Mid-sized reward farmers taking profits shouldn't send us to all-time lows on their own.
.....the globetrotter dump was very large (relative to 'normal' volume transactions on blurt)...hence the depression of price, mostly prior to the etf - and then the etf sell off....
Well the good news is, maybe he's done farming rewards and buying votes here. Bad news is, someone else will just take his place...
I see another big drop, taking BLURT down to 0.002 USD. I wasn't watching the exchanges... do you figure that was caused by something similar to the last one?
???
Do you figure today's "depression of price" (aka "dump", aka "another big drop") was caused by something similar to the last one, such as globberotter and friends selling off tokens? We hit 0.0025 a few days ago, and 0.0020 earlier today.
You seem to be watching the big moves on the exchanges. I've been busy dealing with my heart : /
Far more important than some tokens, matey.
The sells off's are more from necessity, methinks - rather than financial competency. (and other, non related reasons).
There are some people on here who are far from what they pretend to be.
(fancy your work on covid being on my website?..It might have a place)..
Swimmin' with sharks...
Website? Not the gang bang stories one, right? ; )
(...could potentially work a Covid theme in there... wouldn't be pretty though.)
Am still very optimistic on blurt and what it has to bring to the table. Like wat you said blurt is still young we can give it another chance and benefits of doubt to proof itself
Yes, hopefully this is just the best and last buying opportunity, and it will be all upside from now on!
The information is very nice.
Like all crypto, holding involves a gamble but one I think will pay off in this case.