I just can´t believe that earthcoin went down this much in the past week or so.
Even though I still have faith in this coin and will buy some extra since it is this low.
But does anyone have a good explenation why earthcoin dropped that much
2X payout and 5x payout soon. We already suspected that it will drop. The price will rise back by next week.
Remember that this coin is not even a month old yet. From my review of previous crypto-currencys that have been listed longer almost all of them took a significant initial dive relatively soon into their creation. Many times this coincided with them being listed on cryptsy, for whatever reason, miners autoselling, etc.
Here's whats going to happen. EAC may languish around here right around .000001 - 0.000002 for a few days up to a few weeks. As the word spreads and the world starts to realize how dedicated the community is around EarthCoin, and how the marketing and talent behind the scenes is continuing to add value through intelligent initiatives, some big investors will start to take interest. Once someone with 'deep pockets' decides they want several million shares while it is at such low levels, we will see a very fast price jump to possibly up to a penny. Many of the short-term speculators, day-traders, chicken-little panickers, etc, will see this, and start beating themselves up over being so short-sighted, and be sick at their stomachs to see that they sold at the bottom and would have been up 5-10x their original investment if they had stayed the course.
This will start the 'chasing' of Earthcoin and will likely drive it up even higher, maybe to $0.10/EAC. I have been an equity trader & investor for some time, and it very simply human nature to sell low and buy high. Everyone will want to buy when great news is hitting, and when EAC is breaking all time highs. And when it is low when it is now, people panic, cry, wring their hands, and curse EAC for the lack of instant gratification.
As a very wise man from Omaha once said, 'You want to buy when their is blood in the streets'. When no one else is super bullish, and when there is little good news, but with some foresight and patience you can see the ingredients for a long-term success story.
Can the price go down from here? Yes, Yes it can. And it May. But I recommend keeping 'dry powder' on hand and looking to scale in over time to get a good 'average' cost on your EAC. I can't help but think we are near the lows of this crypto, and that while we may get another 'washout' /capitulation type event to finally shake out all the weak hands, there is CERTAINLY much more upside to be had in EarthCoin than downside.
IE if it goes to 0, you lose 100% of your investment, currently $0.001 per EAC. However if it goes up to just a penny in the next year (VERY LIKELY IMO), then you are looking at gains of 1000% returns. This is called an 'asymmetrical' bet, where the Reward FAR outweighs the risk. This is essentially what 'venture capital' is all about.
So take a step back, relax, formulate a buying 'plan', and do your best to block out all emotion regarding money and your investment in EAC. Try to see the 'forest for the trees', and the long-term benefits of this crypto-currency.
Besides being in the Gold/Silver business, my background is in Finance and I even worked at a Hedgefund as a day-trader at one point. So I do enjoy investing, speculating, trading etc. The best part of what is happening now is that EarthCoins are being consolidated in the hands of the strong, the long-term investors, and the intelligent people who can think long term. This is a natural part of the cycle of trading where the panicky 'weak' investors fire-sale their Coins to the powerful, savvy investors. The investors who refuse to sell their shares until they are above $0.01.
So slowly but surely, the supply on the sell side will dry up, as this consolidation occurs. The bids will start to come in more frequently and in larger $ amounts, both as good news is propagated throughout the world about EarthCoin and as a rising price not only attracts new investors, but the old who sold at the bottom and are now back to 'buy high', and chase the gains they missed out on by panicking.
I cannot wait until I look at my EAC wallet and see 1 million shares. That is my first goal. After that 10 million is my second. I will be a top 100 holder of this currency and am doing my best to further the cause of what EarthCoin stands for. I am even speaking with some of my friends still in the equity arena about launching a 'crypto-currency' hedgefund, considered 'alternative investments', and if I succeed and my initial funding lines up right, you can guess which Currency we will be investing in BIG-TIME. :-)
Hope that makes sense. Best of luck to all involved in this community. There are some brilliant people working behind the scenes that are about LONG-TERM VALUE CREATION. In the tradition of all the investing greats, specifically Warren Buffet. I indeed hope that EAC goes lower, but I honestly think we will.
GO EARTHCOIN!
That was a very well written, well thought out, intelligent, and invigorating post ATX! You are making me want to buy back in and race you to a million! Good job!
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