I really don't know why people are selling STEEM @ 85 cents 😂😂😂, but hey I am glad they do. Because we can now and in the coming days buy some cheap STEEM. Isn't that awesome?
Here is the updated count:
We are in an extended 5th, as I pointed out a few days ago:
Remember that it always gets worse, before it gets better... Good times ahead next year.
The risk reward ratio is already insane right now from an investors point of view. Buy @ .80$ sell @ 4.6$ for 600% profit. The only risk is STEEM going to ZERO and loosing your investment. But what are the chances for STEEM going to ZERO?
.png)
If you think this to be useful information:
Feel free to use and share my charts, but please mention me, @ew-and-patterns as the author. Otherwise it is considered plagiarism and I will flag you and advise my friends to do the same.
.png)
DISCLAIMER: I provide trading ideas using EW and Pattern analysis. The material in this post does not constitute any trading advice whatsoever. This is just the way I see the charts and what my trading ideas are. The author of this post is holding positions in this market at the time of this post.
If you make any trades after reading this post it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.
Tell me what you think...
Have a nice day :-)
#BTD
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Nice
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
really nice example...
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Morning update:
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
what i want to see is less shallow discussion about why steem will go up, but rather why the price of steem has dropped to 0.85. And what needs to happen to reach higher.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
There is already a lot happening right now. You will see the effects next year. But first, the weak hands need to leave the boot, so that a reversal in sentiment is possible.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Just saying that "theres a lot happening" doesnt mean anything to anyone. Its a bunch of fluff at the end of the day. If you want to get investors on board, your sales pitch needs to be stronger with real substance. I know why I am buying steem, but if everyone just nods and looks at each other saying "just wait till next year, were worth more" doesnt help anyone outside of the network. People from outside bringing in money is why the value of steem goes up. Its nothing to do with people who are inside the steem environment already.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
You are right, we need more big money investors. But we are still such a small platform/community.
Let's say we are @ 450000 accounts (don't know the exact number right now)
If 0.1% of those accounts are big money investors (>200,000 STEEM) that is only 450 of them. Now double or triple that number in a year from now....
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
It is even less than what I expected, only 92 accounts are holding more than 200,000 STEEM. We are definately short ony big investors...
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Big investors short STEEM is what I think you meant.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
No, luckily you can't short STEEM. You can only buy and sell. Big investors are selling to buy back cheaper...
I meant that we don't have enough big money investors... We need more for constant growth
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Oh that is lucky then. I think you will need both big investors (hodlers) and market makers (traders) and then STEEM can fly!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
How we can do that is what should be spoken about publicly. That should be the focus on pro steem postings rather than "just invest!".
We need to put in real leg work to promote steemit in order to attract investors. Thats the toughest part. I am working on writing and shooting some content to promote the hardfork series to garner more public interest in the steem blockchain.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I upvote all of jerrybanfields ad campaign posts wih 100%. It is not enough but a great starting point for more advertising in the right direction, to people that actually care about social media and might already have a good following.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Because large operators can influence the price by overflooding the market with supply, depress people, spread FUD to then buy cheap when the average user lose confidence...right before a major announcement. Think like large operator, buy the fucking dip and you'll make money.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
@cryptooctopus has it right and we already know what's coming in december. Hard Fork 20 with easy on boarding of new users, mobile app, and communities. Through on the start of APPICS and there's plenty of incentive to crash/buy.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I agree with @motoengineer, it was looking good right after the announcement of the token. There was a lot of excitement, then, in my opinion, some pumping, and dumping. I have no research, I'm just going by basic observation.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Steem is traded in BTC markets, not in USD markets. With the price run-up in bitcoin, not enough traders are thinking about adjusting their Steem price expectations and buying Steem at 'discount' with their BTC profits. So the BTC price can dip a little or hold mostly steady and it results in a significant decrease in USD price.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Also maybe Steem (along with other alts) are sold to get BTC as the Segwit2x fork is coming.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
That makes sense as a contributing factor.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
^this is a legitmate reason as to why there is less interest in steem. You cannot buy SBD with USD, you have to convert it to another coin first. but this is the case with most crypto currencies. Bitcoin is just red hot right now, and all altcoins are suffering.
This is the same as the dot.com bubble, people sold other stocks to get into dot.com stocks. People are dumping most of their cyrptocurrency money into btc and not altcoins.
I write about this in one of my blogs :https://steemit.com/bitcoin/@motoengineer/do-you-actually-believe-bitcoin-is-a-bubble-10-30-2017
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I appreciate your blog post. I do think that bitcoin is in a bubble, but I'm not terribly upset about it. I think of transaction activity as the 'fundamentals' driving bitcoin. In the long run (ex-speculative activity) the price of bitcoin will be dictated by the amount transacting participants need to hold as reserves for day-to-day activity. This will vary by the actual use cases.
There is a rubber-band relationship between fundamentals and speculation. Solid improving fundamentals drive speculative activity to a certain point, and then price momentum drives it still further. If price action gets too far out of reach of fundamentals, the rubber-band will eventually snap back, and there will be a big pull-back in price. If the pull-back is severe enough, the price momentum will start working against it again and fundamentals will improve faster than price. Eventually the improvement in fundamentals will outpace price movement enough that accumulation to support use-cases will start to create positive price momentum and the cycle starts over.
Right now I think the dominant factor is the prospective futures contract in bitcoin. While there will be some 'arbitrage' activity aligning the futures with bitcoin, most of the trading will be USD-settled, meaning you won't have to own bitcoin to speculate in bitcoin. I actually see that as a negative for fundamentals, so positive price reaction is somewhat misguided.
But full disclosure: I'm long bitcoin and have barely trimmed my holdings on the recent price action, since I think the long term bullish case outweighs the short-term fundamentals. I wouldn't want to sideline for the correction and miss part of the run-up because my timing is wrong.
I'm also long Steem and have more in my bittrex account than I have on the blockchain in my own wallet.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
29.53% @pushup from @josephsavage
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
This comment has received a 14.81 % upvote from @upgoater thanks to: @josephsavage.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I sell my Steem for Bitcoin which is up over 10X since this time last year when Steem was $.17 at SteemFest. Now it is $.80. So guess what I will keep doing until Steemit gets it right?
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
That is still 470% profit so why not😂. Thanks for stopping by.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
It's going down due to phishing attacks, DDOS attacks, and a platform that was almost unusable for a week. I really steem and steemit are different, but at this point as far as I'm concerned they are one in the same.
Also, why would you hold steem right now when BTC is gaining 5% a day?
Wait until steemit starts showing some strength again then buy. Don't try and catch a falling knife.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Sorry, but I basically disagree with everything you said here.
I don't think phishing and DDOS attacks are the reason for STEEM going down.
BTC will not continue to gain 5% a day.
If you wait for STEEM to show some strength to buy, you already missed 50% of your profits. If you don't believe in STEEM 100% don't buy it at all.
I don't wanna "correct" you, I just have a completely different opinion about this.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Large operators have 80% of the supply and play small investors like a fiddle. Consider it a gift when they manipulate the price for you to get cheap steem.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Just watched the dollarvigilante and he made great points at steemfest.
He's suprised it's not growing more, but realizes until
Steem's going to sit like a rock until those changes are made or BTC cools off. Why invest in a coin that drops every day when BTC is gaining 5% on a daily basis and BTC has it seems weekly news that keeps the money flowing in.
Steem does have potential, but I see no point in investing in it now. From watching the steemfest stream everything is happening next year. What's going to happen this year to make the price of steem increase?
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Price and features are not correlated. In July 2016 we saw a $5 steem and last winter (with better features) we saw a $0.10 steem.
The trading game is made by large holders (2 to 5 people owns 80% of the steem on exchanges). They makes money by depressing the price by flooding the market and then buy low when everybody thinks it's the end of the world.
What you have to do is buy the rumor and sell the news. Because that's exactly what they do.
The end of the current campaign to depress the price will come right before a major run up where they will sell to gullible new investors when the price spike.
Rinse and repeat.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Wow, exactly my thoughts. There are only 92 STEEM account holding more than 200,000 STEEM. They hold like 70% of all STEEM that is currently in STEEM accounts. It's basically a monopoly. They can change the price at will.
This means that when they are ready to buy, we will see a huge spike in price, which is when they will start to sell again for profit. lol
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
O cool I'll have to try this strategy.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
well I do like Steem too but some cryptos will go to zero and BTS is already almost there 😭 can´t believe. buying al the way down needs really steady nerves. And what gonna happen when EOS arrives ... Dan said in some interview "everybody can do things like steemit on EOS". So IMHO don´t by only cause seems cheap and only buy what you can afford to loose
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Always. With every investment. Only buy what you can afford to loose.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Anything can happen in the crypto world.
but I dont think Steem will go to Zero...
Markets can remain flat and bearish for a while or unreasonably bullish...
I would say - its wise to diversify rather than have all money in one single crypto.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I keep buying at what I think is the bottom and at keeps going lower. Oh well though, I'm just glad steem is on sale.. a lot of good opportunities here
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
People is fomoing with the huge BTC price rise... Thats the reason all altcoins are so cheap right now... There are multiple new hardforks announced so i believe this trend will continue...
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Multiple hard forks to come ? Nooooo :(
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Maybe I should start investing!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Alt coins have been getting hammered down lately, like you said the return on investment has the potential to be quite large once money flows back into Steem and other alt coins!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
yuk...
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
This post received a 3.2% upvote from @randowhale thanks to @ew-and-patterns! For more information, click here!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
completely agree with you @ew-and-patterns the people selling now were never in for the long-term so that is for the best :)
Really enjoy your posts I must say - upvoted and followed!
I would like to get your thoughts on my latest blog post about future guests on my series, Crypto Nights.
Look forward to hearing from you.
Alex
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Perhaps this is the best time to buy Steem ^^
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit