Interestingly most recent dump in @bitcoin the one that happened on 10th January 2019 hardly impacted coins with intrinsic value like @Steem. @BTC had fallen from $ 4000+ to below $ 3600 on @binance and was struggling around same levels till 13th January and continues hover around same levels till today i.e. 17th January 2019 at the time of writing this post. Refer BTC one day candle stick chart below:
Now if we compare it with @altcoins like @steem which not only has running project in @steemit with millions of users but also enjoys ever expanding huge popularity across the globe. Steem too had fallen from 800 satoshi to 690 on 10th January 2019 (when BTC fall altcoins follow the fall BUT NOT ANYMORE). It took only 3 days for @steem to recover and it touched 788 sat on 13th of January 2019 and just crossed 963 sat today i.e. 17th January 2019 as depicted in its one day candle stick chart on binance.
What does result of such comparison convey to us? Let me share my opinion about the way BTC has behaved over the last one year or so and what to expect from it and alts in 2019.
BTC have fallen 6 times from its peak $ 20k in December 2017 to $ 3.5k in January 2019, thanks to repetitive shortening in bitcoin futures by whales, however from here on it can fall only so much. In other words, robust Altcoins like Ethereum, Tron, Steem, Cardano etc. will not fall much from here and are very likely to remain stable. Next 2 years are likely to be years of stability for crypto, they may not rise as they did in 2017 but are unlikely to fall as they did in 2018 either.
From here on, if BTC falls even to $ 1k it will be only 3 times the fall from current levels and on every fall smart people will take an entry. Now don't forget the recent surge in activity in many accounts of whales which were dormant from last one year of volatility. So fall could be limited and rise may also be limited due to now chronic habit of shorting by whales in bitcoin future. But once ETF gets approved and traditional markets fall due to recession BTC can rise very quickly above $ 10k for sure if not $ 20k. But it will be enough to attract old and new investors including institutional investors to @crypto? Only time will tell. Remember ever bad phase is followed by good one and vice-versa. So you never know!!
As far as I am concerned any fall in BTC till 1.5k will encourage me to take fresh entry. What are your plans for 2019 as far as investing in crypto is concerned? Are you planning to take fresh entry, wait & watch or just seeking the right opportunity to take exit and recover your losses? Whatever it is do let me know.
Another new Crypto Currency that's has many features of a well designed and well executed plan apart from Steemit is Initiativeq, steemit I think has gotten ahead in the race because of the dexterity, flexibility and authenticity of the services. And by creating value, right from giving the password control and total responsibility to valuable and careful and responsible individuals only. What a way to filter real serious people from the rest. Well done steemit.
The best part about steem is a running project in the form of this platform which is missing in most of @crypto currencies. Most alts talk about future, stating with so and so plan we can reach so and so levels in so and so time. In last year or so many @altcoins came and now they are no where to be seen. IMO only those will survive which have business model to make money right now which is very much present in case of @steemit and @DTube. Well I have briefly read about @InitiativeQ will surely look into it if you are saying so.
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