Bitcoin seems to be holding firm, just fine...but alts are in free fall. I think this is irrational fear dumping, probably initiated by some manipulation.
If anything, now’s the time to long (not financial advice).
I, personally, am not selling out at these levels to try and catch some falling knives...I have the strong feeling that some weak hands are going to get burnt by this dip.
Power up and Steem on!
never catch a falling knife :D.
Anyways, I did always expect the alts to correct much more during the bear than btc because they were really overhyped. Bitcoin is the clear leader in innovation and adoption and most alts are very experimental projects that may fail completely. They were really pushed up in the bull so they have a much longer way to fall. I think the alts can correct for another factor of 2, while bitcoin should roughly hold the current value. Then in a month or two I think it can start to go up again.
I was lucky to trade most of my alts to btc at the end of 2017. It would have been much better still to just go into fiat and buy back around now.
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I’m HODLing my BTC...I trade the alts.
Just converted some BCH and some LTC into SP.
I’m longing Steem hard...more than just a crypto, a platform and a community of communities.
Not to mention the inflation adjustment ~1.9% “interest” on SP that isn’t present in other alts...plus the upcoming release of SMTs...plus the historical value...
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steem is quite difficult to predict. I think I have a little too much right now, but I am quite positive on it. It is just much higher risk/reward compared to btc. I think steem can reach 50$ and that would not be extremely unrealistic. btc on the other hand to go to 500.000 will certainly take a long time
(all assuming dollar is not going through hyperinflation, then nothing is of the charts :))
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I will be fine till the end of the year I hope :/
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I wouldn't sell at these prices, this is the time to buy or to post and make some steem with it being this low.
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I absolutely agree...give it 6 months to a year and we’ll be happy campers!
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