Strategic Advantage: The right time to Buy Steem and Bitcoin
The secret to being rich in our fast evolving world is to know what will happen tomorrow _ie to have the power to predict or forecast the future at 90+% accuracy. Conversely, however, there is no one that can predict the future at 90%+ accuracy even so called traders that read candle sticks or market fundamentals base their analysis on mere technical analysis, history, experience and luck.
The conundrum, however, is: do we know the right time to buy our top cryptocurrency? Are we sure that after buying it that there won’t be a sell off (red) leading to some loss? Here are some few points:
Technical Analysts: according to CNBC news
The Bitcoin Misery Index says now is the time to buy :
Now is the time to buy bitcoin, according to a new "misery index" for the cryptocurrency created by a Wall Street strategist.
"When the bitcoin misery index is at 'misery' (below 27), bitcoin sees the best 12-month performance," Fundstrat Global Advisors co-founder Thomas Lee said in a Friday report. "A signal is generated about every year."
The bitcoin misery index is at 18.8, its lowest since Sept. 6, 2011, the report said. Read full details here
Do you agree with the above analysis? Are you sure that bitcoin or steem prices will not fall more and thus provide a better opportunity to entering the market? My simple strategy is to:
Buy Low and Hold(HODL): If you follow the strategy of buying low and holding in the long run (take some profits for diversification) then you will always be on the winning side. According to Warren Buffett , as an investors be fearful when others are greedy and greedy when others are fearful . Therefore this strategy will always help you to buy low ie when markets are down and sell when people are in FOMO mode . The great thing with steem, is that: it is still very undervalued so buying steem and powering up is a great investment for the future and you will end up making daily profits through curation, post rewards, delegation, interests and respect/ power in the future of social media.
Diversification: I will remiss if I do not indicate that diversification is the key: never lay all your eggs in one basket because doing so might lead to failure- especially during financial distress.
Therefore use opportunity when people are panic selling to pick some underlying beauties (undervalued coins/tokens) , invest the money you can afford to lose, remove greed / emotions and hold (HODL).
I wish you all success and a blessed weekend.
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most people can't stomach the volatility of a market, that's why they sell, volatility is nothing for me since cryptocurrency is quite young and need some room of improvements.
that is true
Ability to control your emotions, patience and due dilligence are principles that can help...success to you
I agree you need a zen approach whether it is down or up
thanks @charles1!
Patience is everything... buy the red numbers and your profits are coming...
Your absolutely right on this, but its just not that, most people do not have time to be day traders...
I've written an article on the upcoming volatility over the next few years in cryptocurrency and why it will happen,
please check it out:
https://steemit.com/bitcoin/@richatvns/reality-for-cryptocurrency-market-volatility-why-it-will-continue-this-year-simple-and-clear-reasons
I think you are right. I think this new arena of cryptos takes a lot of patience....and forward thinking.
Steem is worth investing for sure, but I am not sure about SBD. Anyway, SBD was designed to be equal to 1 US dollar.
i agree it's the best time in invest in ourselves, Steem will rise very soon.
Point
We must used to the roller coaster ride of cryptocurrency. Its fun yet so risky but if we hit the right mark then a huge payday awaits us!
Every dip means its time to invest and when it rises its time to sell.
Enjoy the ride 👍
Good point, thanks for your comment
Definitely a great strategy! Imho, anything under $5 for Steem is a BLOWOUT sale. With SMTs on their way, with the growing number of DApps built on the Steem Blockchain, and all of the improvements that the dev teams surrounding the blockchain are making, this should be a top-10 coin. It will be and I don't think it will take any longer than December of this year, so you should load up while you can! I used to be arrogant, trying to day trade, but most really don't understand just how much luck is involved a lot of the time. Buy and hold is a great strategy and an even better one with Steem Power, since you're incentivized to convert and vest your Steem, because you get a stronger vote, you're safer from hackers (because of the incremental release of funds), and you're making the community stronger by having steem power, thus making the price have greater potential. steem on everyone! If you can have 10,000 Steem, I'm confident you'll be a millionaire one day, so aim for that number! :)
You are absolutely correct, thanks for your comment and more success.
I think it's bitcoins turn to rise, Alts will have to sit and wait for bitcoin to rise and level off before the next alt boom. Months
Why? altcoins might rise even faster than bitcoin
Why do you think so?
Hodl is the only strategy which works for me. I am terrible at trading the ratios. Diversification doesn't work in the traditional sense but in crypto case you protect you self from platform failure.
Good point...however diversification and hodl is key ...because if you hodl only bitconnect or other shit coins then you are in trouble hahaha
Yeah but some things are obvious scams. Guaranteed returns are a big hint. Also MLM style rarely works for the late comers.
HODL is a perfect strategy that has always worked if patience is added. therea definitely an element of luck in forecasting but i want to agree with this predictions...happy weekend
Good point, thanks for your comment. Happy weekend too
only reason steem has been falling so much is poloniex, they are in freefall and other exchanges are following their price
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