Another nice analysis, always fun to read these. I also think we will be heading lower, got my next buy order set in the low 0.00015s. I am becoming more and more encouraged by the continuing range-bound action, although my accumulation rate has slowed as my finances are unfortunately a bit strained lately. The longer the price bounces around in this area, the more likely it is to be a solid floor, and the better the uptrend will be when we finally see a break out.
I plan to stay fully powered up until Steem reaches at least $1. After that, we'll see, may cash a bit out to pay some bills. It's always hard to judge the right moment to exit. I tried timing the tops in Ethereum for a while, but gave up on that and now I'm just a long-term ETH hodler come what may. Hmm, maybe it's worth selling some of my ETH and transferring the profits into Steem, now there's a thought...
The right moment for me is when I feel like I've made enough profit to be happy with. Getting a 5-7% return is better than most investments out there. At current prices, selling at $1.00 would be a fantastic profit. The only thing that will make a difference is how much you invest right now. If you buy 100 STEEM, the profit won't seem like much. If you have 1000, you'll be feeling pretty good. If you have 100,000, you'll be partying for a while.
Just don't get too greedy. Pick some targets where you'd be comfortable selling and stick with it. Hold onto some just in case the price goes higher. If you're sure that the long-term potential is high enough, sell at your targets, then buy on dips. Just be careful with that strategy, because you can lose your profits quickly if you don't stick to your targets or start panicking.
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Good point, in the fast paced world of crypto it's easy to forget that 5% is a perfectly respectable return. Nothing wrong with aiming for singles instead of trying to hit a home run each time.
Trying to do this is what got me in trouble with ETH. I sold some of my stack on a price spike, intending to re-buy lower down. But the price kept rising and I panicked, bought back in higher with the net effect being I lost some of my ETH. And then it went down again... basically I'm terrible at timing the market. Much less stressful to just be a hodler and use a fairly mechanical cost averaging strategy to slowly accumulate.
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do you seriously think steem will ever reach $1 ?
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Sure. It was much higher than that during the big spike last July, and with the ambitious 2017 development roadmap recently published + elimination of the initial hyperinflationary economic model, there's no reason to think we won't see those price levels again. Especially if there's an explosion of mass adoption and good distribution of Steem Power away from the current small group of whales.
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