There really seems to be a repeating pattern in the cryptosphere with Steem being no exception after all. First it goes straight up, then it goes down again just to stay stable around a certain level for a long time before repeating the same pattern all over again.
While taking a closer look at the overall price chart of steem you may see what I´m talking about. Some might say it´s no real technical analysis but hey that pattern is just too obvious to be ignored or neglected after all.
Based on this assumption I keep to stack as many crypto tokens as possible while the price still stays low. One can always sell during a high but never at a low as that would just be quite dumb after all. So I keep hodling my crypto, patiently waiting for the next rally direction sky 😉
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Agreed - I think a lot of times the spikes have been correlated to more avenues opening up for folks to invest in crypto. I think there's also a correlation with public equities but I'm still digging into that. Either way, buy the lows and hodl! I myself like to sell out along the "climb" since timing the peak is basically impossible!
There´s definitely some huge correlation between the public´s interest into cryptocurrency and the market value. The more attention the media direct towards us the higher the prices will be :)
Wait for the pump and then start selling.
mmh or don´t sell and wait for the next few pumps to happen until it reaches 100$ or more ;)
5 Star rating on this post.
Timing the market is a challenge even for the most experienced trader. There are some who do it very well.
That said, it is crazy to sell something like this on a pullback unless you think it is going to zero. Could STEEM be in for more downside? Sure. Yet trying to buy at the bottom can be tricky...especially when things can move very quickly.
For me, the best approach, since I am high on STEEM long term is to just keep powering up to increase my voting power and hold on under the magic happens. There are a lot of developments which will really thrust this blockchain into the forefront.
It is only a matter of waiting for those applications and then watching the market catch on. Sure it might take a while but it will happen.
5 Stars, wow thanks a lot :)
It´s really great to see the potential and all the new awesome projects that start to come up all the time on the steem blockchain. Just like you say there are great things about to happen in the future but one got to be patient to be around to see them happen.
It´s definitely not easy to see the price falling but whenever you get comfortable on the thought that cryptos will become a trillion dollar market it´s actually quite easy to swallow ;)
Hold forever :) I think all we need is a little momentum to push the whole crypto-sphere back into a bull run...but who knows when that will be. I'm eagerly awaiting it, and feeling fomo at the same time because I need to accumulate more Steem at these low prices!
Forever? Sound quite long. Maybe I sell whenever it´s worth a fortune and just retire at a lake xD
haha ok fine. I lied. But forever in crypto is a year :)
That is called pump and dump.
a good post, can to improve knowledge in this steemit
Now is accumulation time.
Buying low is always a good thing. Problem is you never really know whether it´s the bottom or whether it might go down even further...
No. Technical analysis is pretty at judging the bottom. Look at all my videos on Bitcoin in the past two weeks. I called the top and bottom. once the next resistance level is broken, the top of two weeks ago is pretty solid.
up and down is a rule for all the things in life. :)
Only few can see , among the few can see only few can trade the pattern. If u can not afford to trade the pattern , buy more more Steem to secure ur financial future !
You have been identified as a Steem network abuser and have been flagged accordingly. Please behave.
@abusereports is the highest spammer , any body notice @abusereports flagged his post or comment , u should not forgive him flag his comments too. If u notice how he is benefit with his own spam way ; he will comment and upvote his comments for him to get more Steem . So he is growing his account and letting u down : Do not forgive : flagged him too!