If you were following my last State of the Market Video, be aware Bitcoin broke below 8,000 as I was anticipating. I had expected at the very least a test of 8k, but most likely a break which has occurred. This video covers my near-term expectations of the cryptocurrency market by analyzing the trend setter, Bitcoin! Also, I briefly mention Steem and EOS as what to be shopping for in a market crash.
Hope you enjoyed!
how do you use steem back dollars to profit?
by the way great video!
cheers
The concept is limited supply. SBD basically have a fixed supply cap, so if they ever dip down to $1 USD or below $1 USD, then effectively it becomes one of the most "no-brainer" investments ever... so long as the Steem Blockchain does not change the rules.
With the SBD rules as they are, there is a point at which accumulation happens for no other reason than there are people out there trying to make a buck on SBD. But certainly below 1 USD accumulation can be profitable for a conversion to Steem at 1 USD. This all said, the point is not to do the conversion, but accumulate as low as possible, wait for the contraction in supply to produce a supply/demand shortage because while there is a baseline support for SBD around 1 USD, there is no upward cap.
So when momentum happens to pump SBD, there is no upward constraint preventing that trend from going higher. Meaning, SBD should continue to reasonably touch up to 10 USD off and on in the future. So it's an easy 10 X at 1 USD.
Thanks man for sharing good content, keep it up!
Not looking stable at all who knows we might see a new bottom of the year again :(
Bitcoin is unstoppable, it is the decentralized engine, though transactions are public. But untraceable currencies such as Monero are poised to capture a decent part of the market share. Stay thirsty my friends.
Hey @crypto-investor great to see you back, thanks again for the market update!
In regards to STEEM/SBD, are you in any way concerned with a better EOS based competitor on the horizon? Dan has hinted a few times in the EOS telegram about a STEEM-like platform being in the works:
https://steemit.com/steemit/@pandorasbox/eos-to-build-a-competitor-to-steemit-will-steem-survive-eos-long
Also, the fact that the STEEM SMT release has been delayed from Q1 2018 with no make up release date is a bit disconcerting to me as well.