The cryptocurrency market has been showing downward trend this past month especially since 2018 and today looking at Coinmarket cap one may even be tempted to fall pray to Fuders that the world is ending for Cryptocurrency lover and dedicated followers of our dear Steem and Steemit especially seeing the SBD fall as low as $2.71 ( less than 44.58%) & Steem $3.46 (less than 33%) See Coinmarketcap. This is truly bad especially for someone who had wanted to cash in few days ago when it was above $7+ but waiting for it to rise more.
These bad news for cryptocurrency is not unrelated to recent events from Facebook announcements of banning cryptocurrencies from using the platform for adds, see my last post on "Why Facebook Ban on BTC, Steem, EOS et al will have no Effect on their future growth."
More so,
Most recently as if the facebook beef is not bad enough, yesterday we read another crackdown of cryptocurrency this time from Indian government. According to an article posted by Simon Mundy of Financial Times (Mumbai) titled "India signals cryptocurrency crackdown"
Indian finance minister Arun Jaitley has promised a crackdown on the use of cryptocurrencies such as bitcoin for illicit purposes, stressing that the government does not consider them to be legal tender.
According to the Minister,
The government does not consider cryptocurrencies as legal tender or coin, and will take all measures to eliminate the use of these crypto assets in financing illegitimate activities," Mr Jaitley said during today's budget speech, as the government outlined measures to revive the country's flagging growth rate.
Read up all from Source
As you are all aware, the cryptocurrency world is powered by speculations which in turn is triggered by news and such constant bad news including US regulations is causing the cryptocurrency world to tumble.
But hey, is it end of the world or time to study the market carefully to know when to buy up more steem and power up using fiat money? Well, for me the time has finally come to invest in the best coin which is steem and power up because of these current good news
The latest Weiss report proves that Steem is one of the best coin to invest in having made it in Top 5 best coins to be rated "B" ( see my post in that regard here titled (Why Steem & EOS leads the Crypto world with top Weiss Rating)
Steem made it to top spot as number one blockchain that processed highest number of transactions ( over 1 million) without breaking a sweat as it used like 1% of its capacity while in similar volume, ethereum used over 60% of its capacity. ( little wonder Krypto Kitties caused Ethereum servers to be over clogged) see @steemitblog post here for details.
Investopedia mentioned steem as number 2 in "Top Non-Bitcoin Altcoins for Your Portfolio in 2018
" Read up from INVESTOPEDIA for details. This made the value of steem shoot up before the bad news and will surely shoot up higher once market stabilizes soon.
So with these few points and ever loving and growing steemit community, against all odds Steemit will always come out stronger and be number one which is already happening as Facebook user base is already dwindling fast in the US after their announcement on ban on cryptocurrency!
do you agree that steem will get to the top against all odds or as usual @kenhudoy is making useless assertions? send in your own contributions and thoughts via comment section.
Could you give me an upvote if you agree with my assertion, resteem and also follow for more.
Read also
Had I known ( The Reason why many remain POOR)
Hey guys, heard about this new upcoming coin called Ethereum Lyte (ELYTE) , so far price has shot up over 3K% in just a few weeks- even as they are yet to be listed on Coin market cap (coming soon), seems like it might be a real good investment for the future. What are your thoughts? Make sure to check out their twitter page : https://twitter.com/EthereumLyte , website : https://www.elyte.biz/ and white paper or join their active telegram community https://t.me/joinchat/E6tXj0dThqzzjVlWJRuxLw where all your questions will be answered.
See whitelist section of https://main.elyte.biz/?page_id=433 for their current crowdsale
Elyte website: https://www.elyte.biz/
Telegram : https://t.me/joinchat/E6tXj0dThqzzjVlWJRuxLw
Facebook: https://www.facebook.com/EthereumLyte
Twitter: https://twitter.com/EthereumLyte
Linkedin : https://www.linkedin.com/company/ethereum-lyte-elyte/
Bitcoin Talk page : https://bitcointalk.org/index.php?topic=2618851.new#new
Reddit : https://www.reddit.com/r/EthereumLyte_ELYTE/
Join the Telegram group for now
its a awesome post from you..
i think i will buy some steem tomorrow.
thanks for inform me .
good choice. keep steeming hot also to acquire good steem and power up
Thanks for sharing this @kenduhoy. I couldn't agree more, I think that STEEM has a great year ahead of it. It offers so much and has a real use case that many crpytocurrencies lack. I'm holding out for 2018, as there are so many factors (like the ones you mentioned) that could help it grow.
Thanks for sharing, I would appreciate your feedback on my latest post!
always welcome and keep steeming hot!
..I dont have that much insight about buying steem until i came across your post sir @kenhudoy,i'm now thinking saving my sbd and planning to buy steem to power up.
Sure and act fast as steem has risen above sbd and will climb very fast especially in Q2.
Steem on. Upped
beyond the ups and downs of cripto you have to always study the markets because for any news that comes out against the coins people are afraid of their loss and decide to take them out, as a newbie in this matter my best advice is to be patient and have confidence because that's the way markets are ... calm everyone ... excellent information
👌 good one. Upped
@originalworks
With the trend its best to observe the market and mk the ryt choice,
sure and buy only when the market shows signs of gains
Upvote please
This post has received gratitude of 2.11 % from @appreciator thanks to: @kenhudoy.
Yes steem will get to the top, this is the right time to buy. Upped.
Sure. Steem on hynet
Nice one @kenhudoy, i believe that steem will reach its destination no matter what . upped
Sure and let's keep steeming hot 😋