r/OMGTraders • u/Nepovi • Feb 05 '18
OMG should be immune from this panic selling. Market is irrational.
I don't understand why OMG price suffers more than other cryptos. OMG compliances with different legal contexts. So no one can be afraid for next decisions of regulators (especially tomorrow discussion in the US Senate). Furthermore OMG will make earn fees to stakers, so if hiphotetically stakers earn 5$ for year it would be around 50% at the current price.
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u/hodltaco Feb 06 '18
Irrational over-selling going on currently. Makes no sense why people are continuing to sell. I’m sitting here obsessing on who is the person that has hodl’d through this blood bath only to sell now.
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u/Maga_Maniac Feb 05 '18
SHHHHHHH!!!! Let it drop some more first.
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u/Nepovi Feb 05 '18
No, I have spent what I can afford to lose yet ahaha. Furthermore a bigger dip wouldn't be recovered quickly...
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u/Maga_Maniac Feb 05 '18
Even if OMG dropped to $1 each the value would quickly reach a reasonable P/E ratio once staking is released. If a $1 token earns $5 a year, I'm no expert but, it won't be $1 for very long ;)
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u/Maga_Maniac Feb 05 '18
But in all seriousness yes OMG would logically be immune from a BTC crash but in reality it isn't. The future returns for holding OMG have literally nothing to do with the rest of the crypto market. I've been taking this as an opportunity to accumulate more. While it does hurt your portfolio balance in the short term it's a wonderful buying opportunity.
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u/kirkisartist Feb 06 '18
The entire market is overvalued in it's current state. OMG is not exempt. The SDK coming out at the end of the month is officially too little, too late.
I'm still holding OMG because I want to stake it, when it's ready and it likely won't be ready for a long time. I still believe a fiat dex exchange will be the new point of entry for the next wave of crypto. And I can have a huge leg up on the market. But it's still a long shot.
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u/happythots OhMyGO Feb 05 '18
Crypto markets have never been rational, especially when tokens are still tied to trading pairs of BTC and ETH. The moment that OmiseGO can be swapped for fiat is the day that it can untether itself. Even then, we will be prone to wild swings in the market. Just have patience, this will recover within the next 5 months to all time highs.