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Chewiecoin

An Amazing Positive out of this Prolonged Bear Market

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On 8/5/2018 at 12:08 AM, Chewiecoin said:

Be patient and HODL guys.

Chewie

Amazing post, it encapsulates my own feelings and experience on the matter perfectly. Back in January I thought Id never be able to afford any more than what I owned at the time. Ive now been able to add to it quite a bit while also lowering my average buy in price. But it does take guts when the market is such crap, if we're right in the end it won't be because we were lucky.

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1 hour ago, ImTheRippler said:

Amazing post, it encapsulates my own feelings and experience on the matter perfectly. Back in January I thought Id never be able to afford any more than what I owned at the time. Ive now been able to add to it quite a bit while also lowering my average buy in price. But it does take guts when the market is such crap, if we're right in the end it won't be because we were lucky.

Thank you. I think this is a common example for many of us. Bear markets suck and rule the landscape fir the longest time. Bull markets are rare but are amazing to watch. We need to survive the bears to witness the bulls!!

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On 8/5/2018 at 10:08 AM, Chewiecoin said:

So the Bears have been roaming the markets for the last 7 months. They are everywhere. It’s affecting all of us and the general positivity of XRPChat and the XRP Community.

But you know what? This prolonged bear market leads to one amazing positive outcome - we all get to accumulate so much more of our amazing investment.

This post doesn’t apply to everyone. If you got in pre May 2017 you are probably some of the lucky investors who bought in when the price was in the low cents or sub 1 cent. You obviously can’t add that much more to your stack % wise whilst the price is in the 40c to 50c range. 

However, for the vast majority of us, like me, who bought in post May 2017 or during 2018 we have been able to substantially lower our DCA (Dollar Cost Average) and more importantly double, triple or higher our stashes.

Imagine,  like me, that you first bought in around September last year. You saw the ATH at 40c and the price was stuck between 15c and 20c. You bought in with the hope of a big price rise in the future based on the amazing potential of XRP with xCurrent, the development of xRapid, and the newly released xVia. The wildest price predictions at the time for EOY where $2. We all knew we could go much higher than this in the long run but $2 EOY? Even that was a stretch to even the most optimistic of us, including me!

Then December 2017 comes and we boom to $3.40 (Bitstamp) and of course the insufferable following crash comes based on Coinbase squashing any release rumours and regulation crack downs in Korea and China.

But what if the crash didn’t occur when it did and the price kept going and we hit say $6 and the price did not crash as hard and we settled around $3.50 or $4. What would have happened to us then?

At $0.45, the price now, $1,000 buys you about 2,200 XRP a nice increase to your stash. But at $3.50 that same $1,000 investment only nets you 285 XRP. Now don’t get me wrong, I truly believe that 285XRP will be worth a lot of money one day but obviously 2,200 is worth so much more. Make the buy adjustments to my examples based on your fiat purchases over the last 7 months. A settlement in price back to $3.50 sure would have meant our initial investments would be in the green, as opposed to red like now, but it also would mean that we would not have accumulated as much XRP as we have now. I know I will be happier in the long run that the price went back to the 40c range than stayed high as in my hypothetical example.

The prolonged bear market also means for me that I have made multiple purchases over this time. So my stash has more than tripled from my December amount and my DCA has stayed low. I bought all the way up, down and whilst we have stagnated around 50c.

When will this bear market end and when will the bulls return? I wish I knew? All I can do is remind you that with all the amazing news we have had over the last 7 months with new adoption partners, confirmed savings from xRapid, the announcement of Coil, Codius and xPring and more recently the incredible increase in exchanges offering XRP for sale and more importantly XRP as their base pairing the future is incredibly bright. This most recent market retracement but XRP holding at around 43c is a great sign. Once the bulls return and the DA market recovers watch XRP lead the pack in percentage gains terms.

Whilst no one wants this bear market to continue I feel blessed that it has given me the opportunity to own so many more of my beloved zerps than I ever thought I would.

Be patient and HODL guys.

Chewie

Dear brother Chewie,

I rarely post. But I try to read a lot. I was thinking for about a minute of a single word as a compliment to you, but decided to write a few words instead. I think It takes a specific mindset to seize an opportunity. To detect, to understand, study and act on it, especially when people around you have no clue of why and what you're doing. I think we all here saw this huge opportunity in XRP. I believe we'll do very well in the next few years, but believe me when I say, what really fascinates me is the people here on XRP Chat. Reading your post just made me wonder... If one day our zerps moon properly (as they should) and I create my own company, I want all my employees to be "xrpchat members like". Of course we'll all be millionaires by then and everyone will turn my offer down, but you get my point. Ripple and XRP made guys like you, and all the other contributors actually come here and meet. The feeling of responsibility towards the community, the time and energy to write a post like yours at this moment, when a lot of zerpers bite their nails and ask "should I sell, will I lose everything, is it a security, why SBI does not move the price" etc. is really remarkable, to say the least. Doing well yourself is important, but you want also the others to do well... and you help! How do you call a person like that? I would go with "a decent human being*". Being human nowadays is a very rare feature of our kind and you can find so many of them here, it's unreal! For me it is like a "Natural Reserve of humans". All because of the zerps. Will I be wrong if I say that the zerps and xrpchat connected good people? "The Zerp. Connects good people". That's something. The price will come. BHODL.

 

 

*No offence, I know you're a Wookiee

Edited by Zaphod
typo

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4 hours ago, Zaphod said:

Dear brother Chewie,

I rarely post. But I try to read a lot. I was thinking for about a minute of a single word as a compliment to you, but decided to write a few words instead. I think It takes a specific mindset to seize an opportunity. To detect, to understand, study and act on it, especially when people around you have no clue of why and what you're doing. I think we all here saw this huge opportunity in XRP. I believe we'll do very well in the next few years, but believe me when I say, what really fascinates me is the people here on XRP Chat. Reading your post just made me wonder... If one day our zerps moon properly (as they should) and I create my own company, I want all my employees to be "xrpchat members like". Of course we'll all be millionaires by then and everyone will turn my offer down, but you get my point. Ripple and XRP made guys like you, and all the other contributors actually come here and meet. The feeling of responsibility towards the community, the time and energy to write a post like yours at this moment, when a lot of zerpers bite their nails and ask "should I sell, will I lose everything, is it a security, why SBI does not move the price" etc. is really remarkable, to say the least. Doing well yourself is important, but you want also the others to do well... and you help! How do you call a person like that? I would go with "a decent human being*". Being human nowadays is a very rare feature of our kind and you can find so many of them here, it's unreal! For me it is like a "Natural Reserve of humans". All because of the zerps. Will I be wrong if I say that the zerps and xrpchat connected good people? "The Zerp. Connects good people". That's something. The price will come. BHODL.

 

 

*No offence, I know you're a Wookiee

Thank you mate. Great post. 

For me posting here in XRPChat and on Twitter is a labour of love. I love this investment and hope I am able to help like minded investors know the value of their investment.

I can’t guarantee that XRP will “Moon” whatever price that means for you I can only talk about my opinion and belief. I sincerely believe we have been incredibly lucky to invest in XRP when we did (the only better time was pre May 2017).

The use case and potential is amazing. We just need patience.  

Zerp on my friend. 

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