.95 Cent Steem Price?? - My Take on the Crypto Bear Market - WHERE'S MY LAMBO

in #bitcoin3 years ago

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Do you even own Bitcoin bro?

I remember during the last crytpo pump we saw during late 2017 and early 2018. Watching bitcoin going up 10% a day, it was impossible to not talk about it with coworkers, friends, everyone. The most random friends of mine got into it, started watching crypto streams and talking to me about their strategies. The only strategy they needed was to own any decent name crypto or even lots of shitcoins and they would do well. I tried my best to explain that this trend would likely correct at some point and that they needed to be prepared to either sell at a profit or hold through. I did ok, i bought in at 7,000 and then more at 10,000 and then sold half of my holdings at 15,000. We all knew a correction would come eventually and swore that we would buy more once it did. Now more than a correction has come, a full bear market, bringing us back to low 6,000 levels. Now, bitcoin has lost the large mainstream media attention it was getting during the pump and people are wondering how low it will go. Is it the perfect time to grow our positions again?

In my opinion, it's a great time to BUY

Even though the manic pump phase of 10% gains a day is gone, there is no question that there is now a much bigger mainstream acceptation of bitcoin as a valid investment asset. I believe we will see a very clear resistance at around 6,000, and may even see a few upward movements while people wait for more news, especially regarding bitcoin ETF's and the possibility of larger custodians/big banks/institutional money and their intents of adding bitcoin to their funds and services offered. This is clearly already in the works and you can google and find many examples of big names and companies working on this at the moment. This, in addition to the clear acceptance and even preference of bitcoin as an investment vehicle for the younger, growing generations, are reasons I believe it is smart to begin taking small positions in bitcoin. Dollar cost averaging as I have heard it called, I think with the resistance we will see around 6,000 and the huge upside bitcoin has with any one new story or news event to come, now is the perfect time to add more position. Buying low and selling high isn't sexy, but if you can be disciplined and stick to an investment strategy for yourself, you could potentially see a very high return, and with how the stock market is looking, I don't see the same upside potential.

Steem is clearly fully effected based solely on the broader crypto market, i remember not too long ago $8 steem, If you have lots of steem power locked up, riding it out is your best bet, keep the activity coming and build it up for the next crypto pump (or actual mainstream/institutional acceptance of bitcoin as an investment, if this happens it won't just be a pump).

Invest only what you are willing to lose (or just HODL and never lose), another bitcoin pump is inevitable, owning before the increaseis the key! Bitcoin is very sensitive and the price can swing up very quickly. Good luck and may we all have Lambos someday.

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It was good to read... and yes we must HODL... not sell. If it start go up... it go fast. There are big investors out there waiting for a low prices. Every time I look deeper in this world ( in this crypt money world ) ... I lot think how this can go down. Our countries print money globally with no sense of responsibility, and they think this is then better.. ? I see that this crypt money is the best solution here than any other payment instruments out there in world.
But what goes down, it must come up also... so HODL.


Look at whats happening with the Turkish Lira, crypto trading there went way up, it is so true the big investors really control the price, but i believe them buying in in big amounts will come soon, and then the average joe will follow and another pump will follow

We see soon .

I agree as well :) You can't go wrong by buying some SBD. It's pinned down to $1, it can only go up now. Steem, however, could go down a tiny bit, but I doubt it since it tends to stay together with the SBD value.

I've been seeing the trend for a while and just like last year the market started to spike in November, I think that we can expect the same. I'd bet and buy now if I still had something to buy with.

Absolutely, oddly enough I think it is more stable than fiat in the long run. Because heaven jitters such as JP Morgan, Goldman Sachs and IBM are all opting in on it (cryptocurrency) that is. Once they quit buying up the back end and launch it on wall street it is OVER THE MOON

Well, SBD is pegged to $1, so it's just guaranteed by fiat. Beyond that, it's up to the markets. If USD goes down, SBD can go up, or it can go down with it, but at least it won't go below it. I wonder if this is the "right" investment for the future. :) Right now it seems like it is.

I'm sure you could scrape together a few hundred dollars to invest! I have friends that pulled money out of their ass to buy when bitcoin was pumping and around 14k and now that it crashed and they sold out they say they they would invest if they had the money, its all what your priorities are! Definitely isn't sexy to buy in a bear market but boy does it pay off if you can hold until the next bull market

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this was very strange to listen to haha, i like it though

Yep, SBD and Steem will grow again. Now's the time to buy

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