Let's face it Bitcoin is THE King of Cryptocurrencies. Don't let someone make you think otherwise. When it moves it makes alt-coins move with it. It can make the market bleed even as it holds it's levels.
The numero uno on your cryptocurrency list should be Bitcoin. More Satoshis you own the greater number of alt-coins you can purchase from the dumpster.
Let me explain in the context of STEEM.
2 year ago on 21st July 2016. 1 STEEM ($3.84) equaled 0.00578635 BTC or approximately $42 in today's value. 2 years down, we're valued $1.42 or 0.00019294 BTC.
It doesn't take a lot to guess which amongst these two tokens came out as the clear winner in terms of value appreciation.
However we need to remember that STEEM has had a fantastic run in 2017 after the massive slide in price after getting on exchanges in 2016. So we're actually better off today than we were 1.5 years ago in many ways except for the value of STEEM in BTC or in USD for that matter.
I've gone back and forth with STEEM and BTC and somehow managed to buy more STEEM in the past 2 years. This year however I've decided to keep hodling whatever Bitcoin I have left after purchasing STEEM at these low prices.
STEEM's value in BTC matters a lot if you want to accumulate some Bitcoin with your earnings and hope to buy back a larger amount of STEEM in the future. It's going to get harder to do that if BTC pumps from here to break it's last ATH eventually.
Ofcourse if STEEM pumps up from here and continue growing stronger against BTC then we might have some hope. But when some people constantly dump STEEM on the market it isn't helping anyone.
Many of us early adopters have been buying STEEM all the way from 2016 in whatever amounts feasible. I've done the same and I continue to do that. I don't hodl SBD but instead keeping trading it for STEEM and I always keep some liquid STEEM for trading on the market.
But the thing is
Last night I dreamt STEEM hitting $350. I was rolling around in bed enjoying the bliss of owning a greater number of satoshis. I woke up soon enough wondering what’s going on and found it at $1.37
#REKT
STEEM is CHEAP against Bitcoin and if you are hodling Bitcoin, looking to increase your stake on this blockchain then now is a great time to be doing just that.
But I always recommending hodling some BTC. It helps to have a slightly diversified portfolio to avoid waking up and having to smell the coffee!
If you like my work kindly resteem it to your friends. You may also continue reading my recent posts which might interest you:
- Let's Watch This Fun Video From International Steem Meetup #1—Malaysia
- Why You Should Vote For @firepower As Witness—Witness Campaign Post From India!
- Steem.Chat Contest #35
Steem is undervalued in my view. Generally in investing, following the crowd is a bad idea
While people have been dumping steem, I've been picking up as much as I can.
As valuable as bitcoin might get, it's struggling with adoption. I wouldn't be surprised if STEEM had more actual real world users (outside of the Crypto crowd), than Bitcoin!
When STEEM starts to rocket, those same people complaining about its low price, will be complaining that the price is too high and it's too expensive to buy 🤦
bellissimo post....che fa riflettere per prendere le giuste decisioni in specie in momenti d'incertezza....le regole di economia suggeriscono di distaccarsi dalla folla....la penso come te kabir88....vedremo
A diversified Crypto holding is the smartest/safest way to invest. Yes you need to HODL BTC, it is the market mover. I beleave this is a perfect time to pick up Steem, and i am investing in Steemit and powering up my Steem. The summer doldrum’s will pass and we will look back and wish we had all grabbed some more Steem at these low prices. Institutional investors are looking, and when they jump in .................... 🤗
resteemed!!! 😎
....dude... you do realize that if you power down your money is locked up for 2 plus years. Better to simply exchange it for bitcoin and liquidate that whenever you want.
Rekt is a slang form of "destroyed" that is once in a while utilized as a part of multiplayer gaming. It alludes to one player or group getting extremely beaten by a rival. It might depict a match that wasn't close at all or an assault in which one side got pulverized by the other.
we must be smart in predicting before making a decision, as @firepower describes when this is the right to collect steam. hopefully that will come the price will continue to be more increased. thanks @firepower has shared a very useful experience
Great advice @firepower. I also keep on purchasing STEEM through my SBDs whenever I get the chance. I have set a target to achieve 10K in SP by the end of this year. That's a huge goal for me depending upon the current market situation but I know this will only get better in the coming days. Just imagine if Indian govt regulates cryptocurrency in the future, it will pump the whole market drastically. BTW will rise, STEEM will rise with it. And we all HODLers will get to do the happy dance when that happens. Cheers! and have a great day. ;)) My whole office talks about me being insane working on this platform but I know I will prove them wrong by the end of this year. Hehe. :D
Great work and ideas there! May I ask, how exactly do you use your sbd to buy more steem? The main thing I am lacking in is my steem and steem power,, I want my voting power to start to make a difference, but it’s a slow process at the moment. Thanks :)
It's a good goal and I think you'll get there easily with your regular participation. :)
dear sir I believe in bitcoin and other cryptocurrency. hope it will go to moon soon. steem is a great project.
Ha ha my man, that's fantastic!
May all your dreams come true :-)
Compared to the previous year we are certainly better today
But we wish high prices as soon as possible
I've seen some alt-coins go down when bitcoin goes up and vice versa. I don't buy bitcoin now as I like to have whole coins and so am narrowing my portfolio down to 7 or 8 coins of which tron and ripple are 2 of them
Great, I have LTC, ETN, Xrp and Doge. Lets see.
(
you get lit with litecoin?
Btc will touch untouchable heights. Patience.
Is investing in steem good idea? What's your opinion? In my view steem is a very undervalued coin right now.
lol, no. exchange it for Bitcoin or Litecoin. If Steemit gets shut down by the government you lose all your money, however other coins are much harder to kill that simply shutting down a website
LOL :v , buy steem now :)
I personally bought steem in each and every dip and also keep some liquid SBD'S if it got a nice pump again like we saw in December, and that will helps me to buy more steem at the end,but man i am sure that you really enjoyed that felling of seeing steem hut $350 ,lol😅
Hope for seeing a nuce run in steem by the end of this year.
hello @firepower I hope your dreams come true steem coin will be 300+$
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Ok... sorry to anyone if this sounds very novice of me...
But, how do I actually buy steem and then add it onto my account.
Would I just do this through binance and then have a code to withdraw it to my steem account?
Would anyone recommend using my sbd to buy steem so I have more voting power etc?
Thanks everyone, again I know probably basic stuff but I’m fairly new. I know I can watch a YouTube video but we have a great community here to ask! Peace :)
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@firepower I was from one of the crowd who were not believing on this platform earlier. When my close friend started this and I saw his growth then I jumped in. Now I am the one who is recommending my all friends to join this platform and collect steem as much as they can. Can say risk free but yeah I may be a safe risk too.
Like 2017 ,we will see steem in moon very soon,we have to wait and watch.
speaking of STEEM PUMP
I wish I had some fiat available that I coule use to buy some STEEM. It's a steal at the current price in my opinion.
Nice article on steem and bitcoin, thank you @firepower
hello bro i want to contact you so please msg me on telegram https://t.me/Jagsarathore
i have 1500 steem power and profile rank 45. i am from india.
hello bro i want to contact you so please msg me on telegram https://t.me/Jagsarathore
i have 1500 steem power and profile rank 45. i am from india.
lol, didn't they ban crypto over there?
haha, when the cops bust in your door don't say I didn't warn you
I will be glad if Steam will cost $ 100. This is also very cool.
Thank you for your work! :)
Steem at 300+ is possible but it takes a lot of hard work and have to prove something as working dApp.
Agree with tour perspectives as Bitcoin is just a powerhouse and has gained the title of being the benchmark for the market. That will be impossible to flip in the short term. However, I believe that there will soon be a day that the market bottom is confirmed and investors will flood in the quality assets first. This flight to quality will go to the established assets that have working blockchain being adopted and transacted on daily with growth. I also believe that STEEM will be a winner in that respect given the growth, scalability and volume it currently has.