I was up late last night when I checked the market and wish I hadn't, my goodness it was depressing at the time I checked Steem was at 0.99 cent the first time in a very long time that I've seen steem break under the dollar mark, bitcoin was on it's way down to $2300 and my own little investment, Litecoin was sitting at $43.
Steem had crashed 19% in four hours so if you were powering down to cash out I would stop that power down right now, the upside is if steem continues to crash we could be seeing a lot of new whales in the sea soon!.
This is how we stand right now, steem stands at $1.19, bitcoin around the $2350 mark and Litecoin stands at $45, it's a little less grim than it was last time I checked but I'm saying everyone HODL! a lot of these crashes are due to panic selling their is no need to jump straight to sell, I've no doubt the market will pick up and if you sell now you're going to take some big loses.
Investments are exactly what they sound like, investments they take time to mature if people would HODL a little more and stop dumping at the slightest sign of a downturn then the crypto market wouldn't keep crashing the way it is.
The crypto market is being heavily manipulated by investors right now and it's preventing them from growing at the steady rate they should be, especially bitcoin.
Bitcoin is the crypto benchmark and everytime it gets dumped it's taking every other token with it, personally I'm a little sick of it and for whatever the reason Steem seems to mirror everything bitcoin does more so than other coins and everytime bitcoin gets dumped Steem is suffering badly.
The message of the day is HODL we need to stop dumping so hard we crash the market and if you do decide to dump do it in smaller amounts to prevent the demand from being unable to keep up.
Let's hope this downturn picks up because right now we're seeing a complete crypto massacre!.
PANIC !!!!
sell everything you have!
ill send you my wallet addresses.... you wont have to worry about a thing!
😂😂 Stupid people and their bloody panic selling, crypto isn't going anywhere if they just HODL their investment would mature quickly.
Definitely a good chance to gather a lot of steem
Oh definetly and I don't think steem has stopped yet, I could easily see it creeping around the 50 cent mark.
I agree with most of what you said, but I dis-agree with one thing; its not crypto investors who are causing this. My definition of an investor is someonel like me, who finds coins they think are really differentiated and have a real world USP, buys that coin and doesnt sell any significant proportion.
Traders on the other hand just look at charts, and jump on any price movement up or down. Traders dont care about crypto or coins value/ missions, they just want to suck value back out (eventually to fiat). Traders provide liquidity of course, but they extract a high price for it.
Well in that case I totaly agree with you and should have said was traders, it's the wall street scumbags I should have mentioned are crashing our beloved crypto market. They are they ones pumping and dumping to the tunes of millions. All we can do is HODL and ride it out.
I haven't plotted the price chart of Steem, only because it seems to be carried by one exchange that I don't particularly trust too much.
If anyone is scared after a 10%+ decline, then you need to rebalance your portfolio. I don't really know what the future for Steem will be, but panic isn't going to help any.
I don't understand what all the panic is about really with Steem if it goes up great our account values go up if it goes down you can buy cheap Steem in the knowledge that it will go back up I'm sure of it.
I've never seen this before, it's a bloody Tuesday ....
Yes bloody tuesday is right!
i wish it goes down further to some extent so that i can buy more........
It would need to go well below the dollar for Steem.
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