Anytime is a Good Time!

cryptographic (64) in trading • 7 years ago

Dump BTC for STEEM and BTS now? After a major decline that some are even going so far as to call a crash? That question was posed to me in the comments of yesterday’s post, and most appropriately so. I hadn’t been clear about when I thought it would be a good time to roll out of the old legacy crypto and into the future leaders and the question was due.

My first reaction was to say NEVER!

ON THE OTHER HAND, everything is relative, and especially so in this case. The fact of the matter is that in BTC terms, both STEEM and BTS are in the buy zone: perfectly normal pullback areas where smart bulls load up. In BTC terms, neither STEEM nor BTS have “crashed”. USD terms aside – and indeed the losses have not gone unnoticed there – it’s not USD that we are competing against here: it’s BTC and the other old era crypto accompanying it that we are measuring ourselves up to.

In BTC terms, both STEEM and BTS may never be this cheap again.

So, a better thought out answer to the question might have much better been:

Anytime is a good time to buy STEEM and Bitshares!

I also encourage you to read that post - A Better Possibility? - and especially the great comments you all left! I tried to arrange them with upvotes so that the more interesting and thought provoking are closest to the top and I will do my best to answer more of you as I get the time.

You say you’ve learned from me. Guess what? I’ve learned just as much from you! You know what they say? What goes around comes around! Thanks a million! 🙂

Bonus Chart

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Please leave your comments, input, questions, etc., below!
Your support is much appreciated. If you like this post, please Upvote.

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7 years ago by cryptographic (64)

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taskmaster4450 (78) · 7 years ago

What goes around comes around!

This is the essence of Steemit....it really sums it up.

This article pisses me off....I thought I had it down but now you are making me think.

I have some LTC that I want to lighten my position in and I was going to keep it knowing that it will see a big run. However, you are right, STEEM and BTS will also see a big run. So, perhaps I am best off moving some of my LTC to them at this time....

Oh the problems we have. LOL

taskmaster4450 (78) · 7 years ago

Okay I couldnt help myself...took some LTC off the table and added more BTS...another 12K+.

Thanks for the rethought on your position, one I agreed with and the re-evaluation....you made me think.

Now we just need at least a 200 bagger off here (be more conservative than @stan and his 1K bagger).

cryptographic (64) · 7 years ago (edited)

Now we just need at least a 200 bagger off here . . .

Yep.

Glad to hear you're well balanced.

There's also something to be said for the more conservative parts of our investments too.

taskmaster4450 (78) · 7 years ago

The more conservative parts of our investments?

I am not following...which ones are those?

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cryptographic (64) · 7 years ago

Well, in this case your LTC would be a more conservative part of your crypto portfolio.

😉

theguruasia (67) · 7 years ago

@cryptographic,
You explained it well. Shall I add small thing to it? Why I am looking at STEEM, BTS and EOS rather than BTC is depend on 2 reasons.

Speed and Fee of the transaction - BTC has high fee and low transaction speed, I feel it's time wasting and waste of money as well. So if we have a better solutions (alternatives) I won't hang on such costly unwanted technologies anymore.
ROI - Current price of BTC $11,600+, just assume if we need to get 100% ROI it might reach to $23,000 or above. But if we check STEEM, BTS, EOS prices of course they are all very cheap too. Without a doubt I can make 300%-1000% ROI by holding for a year of time :D

So, I am choosing 3rd Gen, STEEM, BTS, EOS as my best horses for 2018. The power they contain will leads us to the maximum profit level without a doubt. What we all need to do is HODL for a year. And with this market drop, we got a nice opportunity to make more profit as well!

Thanks to your strategies and techniques I decided to focus more on those technologies. It worked well and always too.

Cheers~

adityabhat (48) · 7 years ago

BTS looks really promising because people will soon realise the importance of decentralised exchange's. Steem is going to rock because it literally doesn't have any competition. BTC is hanging behind because of high transaction fees and slow transfers.

bigtx31 (51) · 7 years ago

Thanks as always for the thought provoking post @cryptographic! For anyone thinking about swapping out their positions, I'd suggest folks to think about the timeline of their own investment and the related opportunity cost.

For what it's worth, I'd say bitcoin has a "higher floor" given the low supply, its increased use case, and its entry to the "traditional" markets. Does that mean it won't experience huge swings? Probably (likely) not, but I think it you're on a shorter timeframe or investing money that you may need in the near future, there's some risk in swapping out.

If you're willing to play the long game (as you should be!), the costs of swapping now (including transaction costs) can be easily outweighed by the long-term potential payoffs - depending on your investment thesis. This may mean riding out some BTS or STEEM volatility - driven by a lack of understanding in these products by folks - but in exchange for greater return. Remember in finance, a higher beta or volatility is usually associated with a higher return stock!

So certainly worth considering but as with many things in life, the answer depends (on you)! Of course, feel free to argue with me on which you think is more volatile too!

pawsdog (55) · 7 years ago

Excellent post as always.. I actually a week or so ago stopped converting SBD for Steem and started selling back my STeem for SBD. I don't think either has "crashed" so to speak.. The market is just doing what the market does and it always comes to balance at some point.

markzuckerbergs (56) · 7 years ago

I want to buy steem but like market is falling few days before i thought that i will buy steem when it will fall at 1$. Now i think that it will never happened again . You are right anytime is best time to buy steem because we are at very early stages of steem.

dirkboy41 (53) · 7 years ago

It doesn't happen often, but I may have bought steem and bts at the lows yesterday. knock on wood While many EW theorists I follow predict there should be one more low in BTC before bouncing, I would like to see STEEM and bts outperform regardless of what happens with BTC. Either way, it will be exciting to see how this unfolds.

mejustandrew (58) · 7 years ago

I gave up on Bitcoin a while ago already and I reoriented to more volatile coins like Steem as you just mentioned. The main reason behind this it is the reduced ability to scale of Bitcoin over the PoS based blockchains. I believe there will be no PoW in the future so unless any major hard fork changes Bitcoin, it will become just cryptogold at most...

cryptographic (64) · 7 years ago

Yeah. POW has some serious unsutainability issues.

mejustandrew (58) · 7 years ago

I know, and I hope it won't be here for long (it can just be forked and replaced with PoS) so the entire earth benefits from less energy consumption.

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toofasteddie (70) · 7 years ago

I would include as well EOS as a promising crypto to invest on.
STEEM, BTS and EOS are for me the 3 future kings...time will demonstrate 😉

cryptographic (64) · 7 years ago

I'm still trying to warm up to EOS and following it closely. Would really like a lower entry level.

mysearchisover (70) · 7 years ago

Dump it a year ago.
https://steemit.com/steem/@mysearchisover/steem-is-beating-bitcoin

mysearchisover (70) · 7 years ago

Thank you VERY much. :)

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newageinv (70) · 7 years ago

I am very tempted to pull the trigger on Steem. I am finding myself more and more interested as I learn about the platform and what it does. Lots of utility and space for growth and adoption. Didn't look at it in terms of BTC, only saw the missed opportunity of not buying under $3 yesterday.

mysearchisover (70) · 7 years ago

Steem is literally killing bitcoin.

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steemwija (58) · 7 years ago

@cryptographic - The fact of the matter is that in BTC terms, both STEEM and BTS are in the buy zone: perfectly normal pullback areas where smart bulls load up.
Sir you are 100% correct... After you show it by using the chart analysis I got a clear idea about the idea behind your concept of moving to 3rd Generation crypto currencies like STEEM & BitShares... Sir not only that, you shared your investment portfolio too... Not only that you shared why we need to focus them more... With correct facts you shared the knowledge... Obviously I'm not a trader, but I'm following your advises, it gives me enormous benefits in such high fluctuation crypto market... Thank you Sir... Thank you for explaining us why we need to move to STEEM & BTS instead of BTC...

+W+

sthitaprajna (62) · 7 years ago

50% Fibonacci retracement is always a good area to buy. STEEM is in 50% wheere as BTS is in 61.8% retracement, so I think these areas are offering an opportunity to buy it again and who knows we may not get another chance.

This is really a good opportunity to enter it now.

Thank you...steem on and stay blissful.

crypto-wisdom (61) · 7 years ago

STEEM has much more room to go and it has to surpass 0.001 BTC in 2018 and we should not expect something like pump and dump, because steem is not that kind of crypto, we should be happy that steem is holding well above 4 usd and in 2018, 14 usd per steem is very very likely.

As far as BTS is concerned by the end of 2018, we can see BTS at 2.5 usd per BTS, so those who missed the train, have an opportunity to catch it again.

Thank you.

anik-hassan (36) · 7 years ago

You are right anytime is best time to buy steem because we are at very early stages of steem.

shivohum2015 (65) · 7 years ago

See this chart and my analysis. I have drawn elliot wave 1-2-3-4-5 and within this projection the 5th wave is projected to 165K satoshi, of course it is long term, but in 2018 it is going to hit at some point of time.

Again if we see the chart, steem is trading well above all the three moving averages viz 55MA, 100MA, 200MA which is a bull sign, so steem is going to remain in uptrend for considerable amount of time in 2018, as we are getting clues from various technical parameters as shown above in the chart.

Thank you @cryptographic and have a great day.

seniorpower (46) · 7 years ago

This is very normal. The big drop is due to the huge rise that the market has already experienced relative to me. Steem may fall even more but I will know a big rebound in the next period. I wish this year I think it will exceed $ 40. What do you think. @cryptographic

cryptographic (64) · 7 years ago

I think it's likely.

faissalchahid (1) · 7 years ago

I hope it will go down a little, but the market has undergone a fluctuation for me, doubling and shaving into very high prices this year. I went on at $ 3.2 and bet on $ 50 this year.
Do you have a possible idea. @cryptographic

cryptographic (64) · 7 years ago

50 would not surprise me.

durgaani (55) · 7 years ago

@cryptographic...every one knows the main reason for sudden drop is some issues with the chaina and koria governments..this causes enture world rumors are spreaded and tradings stoped for last 4 days thats the reason prices down very high..but now its ok and all are in green position..Agree with most on buying on the dip but the question is if that was the bottom. Looking at volumes and the weak hands that will take any bounce as a selling opportunity, makes me hesitate before adding to the positions. I am surprised that alt coins are outperforming BTC at this point as well. I would expect BTC dominance to increase before a real rebound. Just my opinion....definatly the bitcoin and steem prices will be grow high and all we are get huge profits in future..thank you for sharing with us...

iforge (36) · 7 years ago

I agree, to many new investor's found crypto in the last six month's. BTC give's a foundation point for the whole market.

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darksea (55) · 7 years ago

Absolutely I agree. and I thank you. my favor is steem. i will defend steem out of btc. :))) I expected the markets to fall. But I never predicted that Steem would see 2.77. Very low price for 2.77 steem. I can not imagine you falling so far. I received an investment of 3.77 den steem. because I know you will be valued. Steem will always rise. According to me, steem will get its normal value within 1 month. this value is about $ 12-13. after that it will not remain constant. Steem expects to close this year with $ 20 worth of last. In short, as you say in yours. There's no time to steem. Always the right time. now you get more profit. I would like to read your comments about BTC. Please contact us more. do not deprive us of your advice. @cryptographic

aquia10 (52) · 7 years ago

@cryptographic I agree with you.I was expecting Steem to fall.But 2.77 was a surprise to me.I expect to see explosion in steem in 2-3 weeks.I think Steem will see $ 8.5-9 . this decline was an investment opportunity. this investors will win..Thanks for information..

cranium (77) · 7 years ago

As time has shown. Those who obeyed you, now, feel excellent, counting their profits. Good luck to you and Good.

Как показало время. Те, кто Вас послушался, сейчас, чувствуют себя превосходно, подсчитывая свою прибыль. Удачи Вам и Добра.

kinggo (37) · 7 years ago

Thanks to your strategies and techniques I decided to focus more on those technologies. It worked well and always too.

Cheers~

sajeeb240896 (52) · 7 years ago

I think you r right bro that anytime is the best time to buy steem.

blazing (70) · 7 years ago

anytime you get in will be the best time because the stat's in price might look high for some but trust me it is very cheap still

serkagan (65) · 7 years ago

An excellent analysis and you are absolutely right, now there are all the prerequisites for the purchase of such alternative currencies as STEEM и Bitshares . The market dictates its rules and if look closely at charts it is clear that the bonus on the Bitcoin / Dollar pair is quite real and take this chance to sell immediately. Further, as you correctly noted on the chart of STEEM и Bitshares, can advantageously buy these currencies while the prices are minimal. The best situation that can be seen from your analysis, can not imagine and need to use it! Thank you @cryptographic

kartiksingh (65) · 7 years ago

Completely agree !
"Anytime is a good time to buy STEEM and Bitshares". Many good things are yet to come.

salahchiva (59) · 7 years ago

I think your words are very realistic
Good thing is currency of steem
very strong
Where there is great resistance at the $ 3.5 price
It means that in the worst case it will not break this figure and this is a good thing, which gives us confidence that it will rise further
And I agree with you that it is a very good time to buy them

mywhale (53) · 7 years ago

Hello @cryptographic,

Anytime is a good time to buy STEEM and Bitshares!
Extraordinary good statement. Unlike other signal providers, you shared step by step guidance why STEEM & BTS than BTC. Incredible article with valuable tips & guidelines. The community needs people (genius) like you do. Thank you.

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mervesaglamx (49) · 7 years ago

It was a perfect analysis.
Even this fluctuation was at the lowest level of $ 3. Steem is a fast-growing platform because in the future, Steem will be able to reach 10 dollar levels.

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resteemia (56) · 7 years ago

you explained why you choose bts & steem than btc very nicely. valluable post for people who don't have an idea about how things going on. impressive post & excellent chart & fundamental analysis. @cryptographic

@resteemia
reteemed & upvo

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postpromoter (63) · 7 years ago

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levitation (44) · 7 years ago

This post has received a 15.76 % upvote, thanks to: @cryptographic.

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gold84 (63) · 7 years ago

@cryptographic already read the previous post, and its great as this one, and as you say! Its a universe law. Give and you will receive. The magic forces of steem (brillian creation of @dan) is what makes this possible so easy.

So many great comments to learn even more from what you just wrote. And yes, I totally agree, its still a great time to buy BTS and Steem, and I still remember when we were talking about it, when BTS was at 6 cents and Steem below $1.

Regards, @gold84

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