Crypto Blood - Analysis - EPA - Steemit "Stuff" - 157
Source Should you panic sell in this crypto blood bath?
I expect the bleeding to continue in the short term. I think maybe this winter the USA could start to go into recession which would probably mean some more QE and/or a rate cut which would be bullish for cryptos.
I'm bullish long term on Steem but I think some if not a lot or even most cryptos could fail.
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@ned just flagged me back to 7 rep for speaking the truth, again.
I was considering applying for one of the positions but I think I will hold off. lol
Wednesday 6-13
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Most def not the time to sell. It's time to buy! Over and over again, this pattern repeats itself. Fear enters the markets and wipes out the weak hands. Time to FOMO when people are FUDding.
As far as Steemit goes, it ain't going anywhere. I've seen this thing rise from the dead 3 times now, along with most alts, and even btc.
I'm short and medium term bearish on Bitcoin and most other cryptos right now and skeptical long term. I am bullish on Steem long and medium term and even the short term looks positive. I can see Steem being at $1000 in 10 years.
$1000 steem? Maybe $100. Who knows! If they pull off SMT and get into the mainstream, it could explode. I'd be happy to see $10 steem.
It may sound crazy but I think there is a chance for the mooning to start soon before the SMT's even launch thanks to leverage which seems to be VERY underutilized on this platform.
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Well, it gave me time to add more fiat. I will buy more very soon. Even if it goes down more, the price of a lot of cryptos is really good right now to buy in.
Are you still bullish on most of the cryptos? I'm still bullish on Steem long term but think a lot of the cryptos will fail. Reminds me of the dot com bubble bursting.
It's too early for a lot of cryptos to fail. A lot will fail, just not now. When there is a new pump, I'm going to sell some of my cryptos and move them into projects I trust more long term.
I think people are cashing out now. Maybe it will change hard to say. It seems like Steem is the only one really backed up by anything.
Sure people are cashing out. But I'm not in it for the short term. I don't know why you would say that Steem is the only one really backed up by anything. Look e.g. at my favorite crypto Vechain. that project is HUGE, with many partnerships already active, and their technology is already being used in the real world.
I guess the better cryptos should do well in the long term especially with inflation coming. What projects does Vechain have?
Here is some info already:
https://bitshouts.com/vechain-partnerships-ven-dapps/
The list is now longer as we are a few months further. Still it already gives some idea.
Sounds good I guess but that article almost sounds more complicated than Steemit. lol I think I struggle somewhat because I am pretty new still to the crypto world. The Steem blockchain is pretty complicated but it does make sense to me for the most part.
Are you active on any other blockchains besides Steem?
It's too early for a lot of cryptos to fail. A lot will fail, just not now. When there is a new pump, I'm going to sell some of my cryptos and move them into projects I trust more long term.
The sale ... Look at that sale .. all crypto half off :)
I got a few hundred USD sitting in my btc-alpha account. I am just waiting on the right moment to put it back into crypto. I likely use it to fund my account here on Steemit but I am not sure yet.
I just wired some extra money. I'm slowly going to be added to my positions. We don't know where the bottom is. But at least I will have a good average price. And in the long run I strongly believe it will go way up.
Don't sell. I am betting on recession beginning end of first quarter 2019 - and a deep, long one. Most alt coins will go bye bye, and should, but Steem should be okay even though I think it is overvalued right now. Just my hunches.
Too late. lol I plan on jumping back in though.
I am very bullish on Steem long term. It seems like the only crypto really backed by anything.
When the sentiment is down, thats the time to invest.
Cryptos needs a reason to be. Bitcoin has the alternate currency covered. Ethereum getting some play for gaming and in game purchases. Stellar working on international transfers. Steem has a purpose on Steemit social platform. I agree many cryptos will fail. I think the way to try and find the survivors is figure out if there is a good use for the crypto.
Agreed ... currently there are hundreds of different crypto. There is simply no way for all of them to survive. There will be lots of disappointed people that are left holding coins and tokens that have less value then monopoly money once the crash happens.
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