Bitcoin made an unsurprising move up to the resistance line and now it seems to be coming back down.

I think we can all agree that Bitcoin is doing great, but every time this happens the 'altcoin' market seems to get stomped into the ground. We aren't making gains on the way up but we lose value on the way down. Bitcoin, it seems, has been weaponized against the rest of the market.

Personally, I welcome this volatility. Over the next few months (right in line with my schedule) we might see an insanely oversold market simply because of how this is all going down. Volatility breeds volatility. If the market becomes oversold it is bound to pop back up later.

It's hard to stay the course when these 'losses' have been so vicious. However, I like to take a step back and look at the market in four year blocks. From this perspective, a coin like Steem hasn't even been around for a single tick of time. Just like any form of gambling, volatility decreases over time and gains/losses become much more predictable.

A coin like Steem is particularly subject to volatile movements. Two thirds of our coins stay powered up at all times, so the liquid market can do crazy things one would never expect. This is especially true considering how centralized Steem is and how much inflation is being created. A single whale can tank the entire market.

"Bearish"

I find the term bearish to be comical. We use it to describe people who don't believe in the technology. "Bitcoin to zero," and all that. However, a real bear has to have stake, and a lot of it, to actually influence the market. The 'bears' that are actually manipulating the price of bitcoin have millions or billions of dollars to begin with. If they didn't believe in DLT, they would have never entered the market in the first place. Bears only become bears when they think the market is overpriced. Buy low, sell high.

Zero effect on development.

All of the programmers out there are grinding away regardless of all of the rest of this madness. In fact, this may be the best outcome for me as far as Steem is concerned. By the time my game is up and running I may have an amazing opportunity to invest in myself via the Steem blockchain during an all time low.

Cryptocurrency allows developers to break free from the constraints of the corporate economy. If I have stake in Steem, I don't necessarily have to worry about how my dapp will provide me with direct personal income. If I have stake in Steem, simply bringing value to Steem may one day be all I need to sustain my economic needs. We can create a synergized business model in which everybody wins.

Steemit Inc. is already doing this. They are working for "free" but they already have a huge percentage of that stake to do with as they please. That money can only be spent once. Once distribution of the coin gets a bit better we are going to see some very big changes around here.

Hang in there, friends.

Let's see what Dec 2019 has to offer before we get any more depressed.

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