Prepare yourselves!
Apologies that my post yesterday about the crypto markets was a bit despondent! But let's remember that Jon Snow does get back on his feet, and (somehow) lives to fight another day ;)
I just wanted to add, in this post, that a correction presents a great opportunity for new people to a get a stake in various digital assets, at prices they may have missed out on just a few months ago!! I've no idea when the ideal buying opportunity might be, and at what price. Maybe it was today, maybe it will be next week, or a month from now, or a year from now - but I have my fiat ready and prepared! I'll try to post some technical analysis about my thoughts on conditions for a break upwards in the future, although my track record so far could be described as 'mixed' :/. And, for people just holding, it's even easier, as you don't need to figure out when to buy back in :)
Thanks to anyone who reads this, and good luck with your trading!
Where is the red woman when we need her!
I love that!! Thanks :D
Who better than 'the red woman', when all the charts are looking blood red!
It's an excellent buying opportunity! As you said, to give specifics is difficult, since no one really knows what the bottom is. The crypto space is still high risk, high return, but it's what's called an "unequal investment opportunity."
Unequal because you could lose 20, 30 or 50%, but the price on some of the coins can raise THOUSANDS of %. In the long run (5-10 years) many of the cryptos we're holding know will be worth unbelievable prices. Of course, some will fail.
And no worries that you have a "mixed" track record @xaero1. It seems like people are in agreement that technical analysis is "correct" only 60-65% of the time. It's still better than the random 50/50 split that you get if you don't study anything. At that point you're just gambling with your money.
TL;DR
HODL! BUY THE DIP!
Great comment! Thanks!
I think with steem I'm too emotionally attached it seems ;)...with everything else, I'd hope to be able to be a bit more objective. For example, I'm a mega-fan of ethereum, but I sold all I had of that, recently...just because that was my view based on the chart. Similar with bitcoin. Needed to do that, because as a trader, I would want to have as much funds as possible to buy back in when the charts suggest that to me.
But as for my steem power, and also some various ERC20 tokens i hold, I will just be hodling long term and not trading those :)
Haha! I'm also pretty emotionally invested in Steem... I love this platform. I'm excited that the official 1.0 launch will be coming, along with redesign of the logo, gamification to attract new users, and easy displays of voting strength and other stats (instead of using 3rd party sites.) Official apps for Android and Iphone will also be released.
That is a good move getting out of Ethereum and Bitcoin for the time being, imo. I'm waiting to see what happens through this whole segwit debacle and moved some of my holdings to LTC back when it was at $33. Also, I'm super curious to see what coin Coinbase lists next... because it will most likely spike. I hold small amounts of around 20 altcoins that I believe in.
If LTC rallies again, I'm considering swapping some of my holdings out for USD Tether... If I had done that when it went to $56 I could have definitely increased my holdings.
Do you use USD Tether much? I've never before but I've seen a lot of traders talking about it.
That's really interesting to hear that devopments are in the works such as you mention, esp. mobile apps!! I haven't been paying attention (in fact I don't even know where the best source of news is for steemit development?) - so, thanks for that info!
For me, I need a good deal of liquidity, and USDT just doesn't really have that. Also, if you check their website, their terms and conditions don't really guarantee much to the holder iirc! In some ways it is nicer not to have to have USD sitting on exchanges, but in other ways it has its own drawbacks (i.e. It's not really any more trustless).
ahhhh ok, that helps, i'm really not educated on USDT so i'll check it out!
Here is the 2017 roadmap for Steemit, STEEM, and Steemit, Inc.
(3 distinct entities that most people conflate with each other!)
https://steem.io/2017roadmap.pdf
I will admit I mostly read the Steemit part because it's what interests me the most, lol.
Cool, will give that a read. Thanks!
same same but different :D I am planning on buying around the 21... you?
The 21... of what? :)
check my post @xaero1
You must be shocked :D
https://steemit.com/story/@imamaii/thank-you-for-xaero1-d-d-d
Haha, you are completely right... slightly surprised when I saw it! ;)
I want like u..always tell about crypto..you are the best boss..
@xaero1
:)
I'm late as always :(
Ahhh.... it's tough to catch a crash :(. In this case you had about a day to get in near the bottom for BTC. I was over eager though and lost $1000s trying to catch the bottom before it happened...but eventually making some profit now.
Note however that this bounce doesn't mean we're not still in a downtrend (which personally I think we are). I'm leaning towards expecting a long period of consolidation (maybe even years) before the next bubble, but I could be wrong and it's possible this one hasn't finished! For this to be the case with BTC, it would have to exceed its previous peak of $3000 - and many people take the view of this being likely, instead.
Hey, but steem/steem-power is still relatively cheap, I.e., compared to it's peak - highest it got to was around $2.70 I think; now around $1.05. Depends if you think it's a good investment of course - price may go up or down!
I have bought some Steem for 1.07$. I hope it's a good investement :) thank for the advise, it's always good to listen from the Better!
Good for you! It's up to $1.25 now :D
..but who knows where it will end up!
Whether it's a good investment, I don't know....but right now, I don't intend on selling my steem power ever! :)
If it were to drop to say $0.20, I would be very tempted to double my investment too ;)
Hopefully Steem will end up just like BTC! $2300 or even more! :) So if you say so, I'm just gonna set my buying order to $0.20 and wait to see what will happen :)
I'd be pretty happy with $10 steem 😀
But in all seriousness, steem is like bitcoin in the sense that there will always be some sell presure (for the near future), since some proportion of the users will use the platform for a work only purpose, I.e., post articles, earn money, and sell steem because that's needed for income. So if the price were to rise too much, this sell presure would increase; but equally if the price falls very low then the sell presure is reduced until at some point it can't go down any more.
I'm principally an investor though, and with the number of users increasing I'm hopeful that this can generate a network effect which would cause more people to want to buy and hold steem.
Caught a 500eur full of BTC when it was at 1850USD yesterday. Tbh I expect it to be going a bit lower in the next ~2 weeks, but expect it to be a long-term good decision.
One reason why holding a bit of BTC now, even if you expect it to decrease more, is to make it easier to buy other alt coins when they get a dip (which they will if BTC has another fall), allowing you to quite reliably increase your BTC volume, and thus making up for the decrease in unit value.
Or at least that's what I plan on doing. Before I invest it in STEEM.
Nice!
Personally, If I didn't have so much SP and also some various alts, which I just hold, then I'd probably be ok holding more BTC too!
I have been saving for 2 months for this
This person gets it ^^ :D
Cheers for your comment!
Damn scared people. Lets buy! :D
Wow...that is a darned cool picture! Did you create it? Anyway/either way have an upvote! :D
Yes :D Because thats exactly whats happening.
Thank you for upvote kind sir.
Cool! Very nice art. And you're welcome :)
It will be back just like jon snow.....but it came back in next season...😂
LOL 🤑
Actually, I think that could be one of the most accurate predictions I've seen...next season=after summer .. maybe October then:)
Great post.
All I would say to people is to be careful to celebrating success by a rising price, as you will risk thinking that you are failing when then price falls. Focus on developing.
So let us just spend the time we could have spent worrying, and staring at the exchange prices, creating good content and building an awesome community instead.
My only regret is that I used the 130 SBD I got from my introduction post to buy STEEM on Sunday while STEEM was 50% more expensive :/ But no reason to cry over spilt milk! There is always another opportunity ahead as you mention :)
Thanks very much.
The crazy thing though in my situation is with SP, when it halved in price I'm like down $100k!...but of course the reverse is true when it goes up! You just have to take the rough with the smooth:)
But you are quite right. I was until recently a software developer, and I do have plans to hopefully try and do something in the development space re. Steem.
That's great! I am still only getting into crypto (been trading for about a month and a half and on steemit for less than 2 weeks), but I have a lot of friends from the StartUp community, many of whom are developers or data scientists. And I am getting more and more of them engaged in the crypto world. WIll be going to Brussels to meet up with one who even got ahead to build his own miner, as we have been talking about doing a blockchain-related StartUp for some time.
It is exciting times to be alive :)
Sounds great! Good luck with that, and thanks!
A great opportunity if the price drops mr.crypto this is not a problem but a boon or a great harvest
You are the best
Mr.crypto
I will call ur name mr.crypro
@xaero1
Haha... thanks very much! ;D
Buy when the noobs panic. Great Post.
Hehe... thanks very much! :)