My take on the last couple of days in the crypto market - update on my coins, and what I did with Steem!
Hello! I've been away for three days, which is a lot for a devoted Steemian. And during those days a lot has happened in the crypto space. I will mention a couple that has had an impact on me.
Bitcoin
My number one coin. Still going strong, almost hit $12,000USD yesterday before it dropped dramatically 10% and then regained last night. Like a lot of people I'm a little bit divided. It scares me that the prices are so high dollar wise. But rationally I can't see how it can go down right now. Some media outlets try to portray it like every Bangladeshian taxidriver is now also a crypto currency guru, or every Australian stripper now does alt-consulting on the side. This is however simply not true. Sure, there are some people (I'm sure some strippers too) in every walks of life who are getting into cryptos. But as a whole, the numbers are still small. Most people still think it is everything from a ponzi, pyramide to being somewhat positive, but having no clue what it is or what it does. I've been speaking to a lot of people lately, and none of them owned Bitcoin or any other crypto currency. Many had something to say about it though. Most people had no idea what it was about, the tech, Blockchain etc. But many showed interest in it.
Now, THAT is a big change. I agree. A year ago, almost no one knew what it was. Now a lot do know that it is some sort of currency. But 99,7% doesn't own it, and 99% have no idea what it's all about.
And I'm not pulling those numbers out of my ass. About 0,3-0,5% of the world population now owns Bitcoin. I'm not sure what the average wallet is worth as of right now, but some months ago the number was $500.
So for those doubting $100,000 even in 2018..I wouldn't be too sure about that.. The fundamentals are very strong.
Alt coins
Personally I've been hitting home run after home run. Einsteinium (EMC2) has had a huge pump the last couple of days due to some cryptic tweet about some insane news. It's not one of my big coins, but it has grown a lot and I'm just hoping it will continue to do so.
IOTA has also gone through the roof and is currently trading at $2,50. I bought it down at $0,40 and it is one of my bigger investments, and one of the projects I believe the most in.
Ethereum has been a little bit slow after the recent correction, but I'm glad it is not as exciting as Bitcoin. Although I'm more heavily into Bitcoin, Eth feels safer and it is a project/coin I'm sure will double in price many times the coming years. I will not sell any ETH's at these prices.
Everyone here is of course concerned about Steem and the weirdness of Steem Dollar going so much up in price. Now, I'm not an expert in trading, even if I actually manage to do some great trades in this space, and I'm no expert in Steem,but two days ago I figured I should buy some more Steem. I had told myself I would NOT, because I'm relatively highly invested in Steem and Steemit as it is. It is not one of my top coins, but it's definitely up there. But as the price of Steem was lagging behind IMO, and Steem dollar seemed so stupid high I figured I wanted to do a trade. So I bought around 750 Steem which I will trade with Steem Dollars once they change place. I believe Steem dollar will fall and Steem rise. Why Steem dollar is so high I don't know, but it shouldn't be, so I'm betting on it to fall down to $1 again, while Steem raises to above 2$.
For once I think Steem is looking very good right now, up to almost $1,50 ATM.
As for my other currencies, NXT, POT, LTC, EOS, ARD, BCH..all of them doing great. And I suspect and hope that's the case for most of you too. Great times in cryptos, and I hope it lasts at least until Christmas. I hope there are many many new millionaires this Christmas!
Quick question, where did you get these numbers from ?
" About 0,3-0,5% of the world population now owns Bitcoin. I'm not sure what the average wallet is worth as of right now, but some months ago the number was $500."
From my ass!!
No, from many different sources and estimates I've read througout the past year. I haven't saved all the threads and posts and stuff where I read it, but they seemed very legit to me. If you google those numbers you'll find it. I challenge you to challenge those numbers.
Nah I am to lazy to challenge and google these numbers, this is why I asked in the first place XD
Haha. Yeah, I'll make a post soon where I'll verify or de?verify them :)
That would make a very interesting read :D
Upvoted and Followed you. Pls help me resteem this for the victims of ISIS/Maute in the Marawi.
https://steemit.com/bitcon/@rashley01/let-s-help-people-of-marawi-this-christmas-click-here-to-know-how
You should only comment if it is relevent to the current discussion, otherwise you are likely to get flagged for spam. Even if it's for a good cause, no one likes spam.
On IOTA and EMC2, I can't wrap my head around what is happening, why are they rising so fast ? what were your reasons to invest in them in the first place ?
Sorry if I look too demanding. I was on the IOTA train myself, but sold after the first price surge as it met my set sell price, I delieve in the coin as well, however, they haven't released anything new since I invested in it .
IOTA just seems like a good project and I'm just investing in all of these Ethereum-like platforms like IOTA and EOS. I'm not a tech dude, so I just need to diversify on those types of "currencies". EMC2 I just thought sounded like an interesting project, plus the mcap was in a nice range. I buy a lot of coins that are in the 10-20 million mcap range if their ideas sound good.
No amazing skills or thought behind my purchases, just "common sense" (in a market that is crazy and new..which is a bit hard) and probably some luck.
I heard one reason of the high SBD is due to a Korean exchange called Upbit, its connected to their biggest messaging app called Kakao which allows them to by SBD directly using fiat currency without any need to go through Bitcoin.
I think you are right that Steem will increase in price soon. It makes sense to hold on to Steem or buy more steem power when SBD is worth so much
Do you have any links for that statement? It's interesting if it's true!
Here is a link, it's a post from @acidyo
https://steemit.com/exchange/@acidyo/upbit-recently-listed-steem-krw-and-sbd-krw
Excellent, I will not sell Ethereum at this price, I think it is slow but it will be fine. And it is quite true, almost nobody is currently in the matter of cryptocurrencies, some have their opinion about that, but do not really know anything about the matter. And now much more, because the socialist, Joseph Stiglitz, said that they should ban bitcoin.
That's true. Thanks Coop!
Well for me am still not very familiar with cryptos, but since am into to steemit, steem, your post is welcomed.
Thanks. Good luck :)
i voted and follow u
Thanks mate!
I've done the same with Iota. Sold it now at 2.4 and bought some more Eos though.
Crypto is very strong option for future investment and highly ret
Bitcoin is starting to get serious attention from industries, I am happy that Ethereum right now is in a flat market, I will buy some. I strongly believe in Vertcoin at the moment, EOS went from 50 cents to 4 dollars and seems it is not going to stop, I sold some in profit at 2 dollars but I regret it.
Bitshares and IOTA have my attention right now, while I think with Steem the most important thing is powering up as much as possible, with SBD at 2 dollars you can purchase 2x1 SP.