I see so many posts saying how bad this is, it's a bad day, huge whales selling out, etc. But for someone like me who has only been on Steemit since January, THIS IS GREAT! I can't wait until STEEM hits 0.30 cents! It would be a fantastic second chance to boost my account, and I happen to think I am not the only one that feels that way. But that's just the state of the market, it's classic supply and demand fundamentals. Personally I think @intellihandling, you might not be looking at the bigger picture, the state of the altcoin market has been bloody but that will change soon, so why not start accumulating?
From what I can see, STEEM still hasn't actually broken it's current support (which I believe is about 0.60 to 0.55 USD), so there is a chance for a rebound but I do see that more than likely we are going to 0.30 USD. On the other hand! If you are trading STEEM to Ether (like myself) than we are actually doing quite well indeed ;)
This is all just a matter of perspective, take a step back and try to see opportunities hidden in plain sight, rather than finding a reason to point the finger. Just my 2 satoshis :)
Dear my friend, i think we are in the same condition, joined Steemit in the best time of Steem and Steemit but with luckly not big investment done before.
Let see if you are right, of course at 0.3 usd it will be very convenient, but are you sure that after will not going into shit coins, than disappear?
Of course, only time can tell. I am not quite sure what you mean by
If what you mean is people making a quick profit off the sale and exchanging those profits for shit-coins, then sure, I can see a small minority making a bad decision like that. On the contrary, with the update to HF20 next week, SMT Testnet for the new year, and full release of SMTs scheduled in March 2019, I find it incredibly hard to believe that the majority wouldn't at least hodl until March and make a small portion sell-off for profit.
So if all goes well with the new features coming to STEEM, it's very possibly to see this token rebound off of the .50 support and back into that comfort zone of 0.8 and 1.5 until the new year.
Worst case scenario (my opinion):
Likely scenario:
Buy the rumors, sell the news. I happen to think that wallets both big and small are aware of the potential of STEEM technology and are currently in the process of "buying the rumors". But only time will tell how the real scenario will play out, I can only say what I observe the market doing, and as I mentioned before, it's not a bad idea to consider STEEM/ETH trades alongside BTC and USD. STEEM/BTC is doing pretty poor if you're trying to accumulate using BTC or USD, but the mackdaddy of smart contracts chains on the market is sinking like a millstone in the ocean and making STEEM look beautiful ;)
Dear @joeohs, i am amazed about your comment, very detailed and professional, are you trader? What i was talking about like going to shit coins, means that Steem will lost his credibility with so low value and this coin will be sell at all than disappear, maybe this is apocalips scenario, but i am worry about it...:((
Yes! I do trade cryptos, not necessarily a "day-trader", but I dabble. I do my own charting and compare my charts to other chart ideas to look for patterns. If I really like a project (like STEEM) I'll read the whitepaper, do more research, etc. So, from what I've seen of the STEEM blockchain, I wouldn't be too worried. On the contrary, I see the STEEM project becoming a top 5 token, barring it's consistency with optimization of code, meeting roadmap deadlines, witness selection and support, etc. etc. This token is essentially creating its very own content based, social-media style economy, complete with awesome dApps like @dlive, @dtube, @dsound, @nebulas, and on and on. This token is here to stay. Thanks for hearing my opinions and I wish you the best of luck fellow steemian, let me know if I can help in any way. Take care