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RE: Altcoin Bloodbath Bitcoin Effect Happy Memorial Day
I'm a chartist - meaning I invest based upon patterns I see in charts. While I am new to crypto - the chart for steem from JUL 2016 shows a clear double top - which is precipitous of either a major upswing or a major downturn. Looking at the chart it was a major downturn. There have been changes to the currency since then.
What I am seeing now in BTC and Steem appears to be more of a retracement - and in a retracement (Rather than a correction) 50% of previous gains are given back, followed by an new growth pattern.
I, for one, won't panic. I don't have much steem yet - but I'm also not selling any BTC.
Hold tight - ride out the retracement, and enjoy the platform. Post quality info and enjoy life!
Well said, Bitcoin trip just started, and the temptation to sell is strong for those who are not familiar with the swings, holding tight now will surly make the biggest difference in the near future.
I guess you are not in a panic and do not want to sell me your BTC eh?
LOL
Followed and agreed.