Apologies that my post yesterday about the crypto markets was a bit despondent! But let's remember that Jon Snow does get back on his feet, and (somehow) lives to fight another day ;)
I just wanted to add, in this post, that a correction presents a great opportunity for new people to a get a stake in various digital assets, at prices they may have missed out on just a few months ago!! I've no idea when the ideal buying opportunity might be, and at what price. Maybe it was today, maybe it will be next week, or a month from now, or a year from now - but I have my fiat ready and prepared! I'll try to post some technical analysis about my thoughts on conditions for a break upwards in the future, although my track record so far could be described as 'mixed' :/. And, for people just holding, it's even easier, as you don't need to figure out when to buy back in :)
Thanks to anyone who reads this, and good luck with your trading!
Where is the red woman when we need her!
I love that!! Thanks :D
Who better than 'the red woman', when all the charts are looking blood red!
It's an excellent buying opportunity! As you said, to give specifics is difficult, since no one really knows what the bottom is. The crypto space is still high risk, high return, but it's what's called an "unequal investment opportunity."
Unequal because you could lose 20, 30 or 50%, but the price on some of the coins can raise THOUSANDS of %. In the long run (5-10 years) many of the cryptos we're holding know will be worth unbelievable prices. Of course, some will fail.
And no worries that you have a "mixed" track record @xaero1. It seems like people are in agreement that technical analysis is "correct" only 60-65% of the time. It's still better than the random 50/50 split that you get if you don't study anything. At that point you're just gambling with your money.
TL;DR
HODL! BUY THE DIP!
Great comment! Thanks!
I think with steem I'm too emotionally attached it seems ;)...with everything else, I'd hope to be able to be a bit more objective. For example, I'm a mega-fan of ethereum, but I sold all I had of that, recently...just because that was my view based on the chart. Similar with bitcoin. Needed to do that, because as a trader, I would want to have as much funds as possible to buy back in when the charts suggest that to me.
But as for my steem power, and also some various ERC20 tokens i hold, I will just be hodling long term and not trading those :)
Haha! I'm also pretty emotionally invested in Steem... I love this platform. I'm excited that the official 1.0 launch will be coming, along with redesign of the logo, gamification to attract new users, and easy displays of voting strength and other stats (instead of using 3rd party sites.) Official apps for Android and Iphone will also be released.
That is a good move getting out of Ethereum and Bitcoin for the time being, imo. I'm waiting to see what happens through this whole segwit debacle and moved some of my holdings to LTC back when it was at $33. Also, I'm super curious to see what coin Coinbase lists next... because it will most likely spike. I hold small amounts of around 20 altcoins that I believe in.
If LTC rallies again, I'm considering swapping some of my holdings out for USD Tether... If I had done that when it went to $56 I could have definitely increased my holdings.
Do you use USD Tether much? I've never before but I've seen a lot of traders talking about it.
That's really interesting to hear that devopments are in the works such as you mention, esp. mobile apps!! I haven't been paying attention (in fact I don't even know where the best source of news is for steemit development?) - so, thanks for that info!
For me, I need a good deal of liquidity, and USDT just doesn't really have that. Also, if you check their website, their terms and conditions don't really guarantee much to the holder iirc! In some ways it is nicer not to have to have USD sitting on exchanges, but in other ways it has its own drawbacks (i.e. It's not really any more trustless).
ahhhh ok, that helps, i'm really not educated on USDT so i'll check it out!
Here is the 2017 roadmap for Steemit, STEEM, and Steemit, Inc.
(3 distinct entities that most people conflate with each other!)
https://steem.io/2017roadmap.pdf
I will admit I mostly read the Steemit part because it's what interests me the most, lol.
Cool, will give that a read. Thanks!
same same but different :D I am planning on buying around the 21... you?
check my post @xaero1
You must be shocked :D
https://steemit.com/story/@imamaii/thank-you-for-xaero1-d-d-d
Haha, you are completely right... slightly surprised when I saw it! ;)
I want like u..always tell about crypto..you are the best boss..
@xaero1
:)
I'm late as always :(
Ahhh.... it's tough to catch a crash :(. In this case you had about a day to get in near the bottom for BTC. I was over eager though and lost $1000s trying to catch the bottom before it happened...but eventually making some profit now.
Note however that this bounce doesn't mean we're not still in a downtrend (which personally I think we are). I'm leaning towards expecting a long period of consolidation (maybe even years) before the next bubble, but I could be wrong and it's possible this one hasn't finished! For this to be the case with BTC, it would have to exceed its previous peak of $3000 - and many people take the view of this being likely, instead.
Hey, but steem/steem-power is still relatively cheap, I.e., compared to it's peak - highest it got to was around $2.70 I think; now around $1.05. Depends if you think it's a good investment of course - price may go up or down!
I have bought some Steem for 1.07$. I hope it's a good investement :) thank for the advise, it's always good to listen from the Better!
Good for you! It's up to $1.25 now :D
..but who knows where it will end up!
Whether it's a good investment, I don't know....but right now, I don't intend on selling my steem power ever! :)
If it were to drop to say $0.20, I would be very tempted to double my investment too ;)
Hopefully Steem will end up just like BTC! $2300 or even more! :) So if you say so, I'm just gonna set my buying order to $0.20 and wait to see what will happen :)
I'd be pretty happy with $10 steem 😀
But in all seriousness, steem is like bitcoin in the sense that there will always be some sell presure (for the near future), since some proportion of the users will use the platform for a work only purpose, I.e., post articles, earn money, and sell steem because that's needed for income. So if the price were to rise too much, this sell presure would increase; but equally if the price falls very low then the sell presure is reduced until at some point it can't go down any more.
I'm principally an investor though, and with the number of users increasing I'm hopeful that this can generate a network effect which would cause more people to want to buy and hold steem.
Caught a 500eur full of BTC when it was at 1850USD yesterday. Tbh I expect it to be going a bit lower in the next ~2 weeks, but expect it to be a long-term good decision.
One reason why holding a bit of BTC now, even if you expect it to decrease more, is to make it easier to buy other alt coins when they get a dip (which they will if BTC has another fall), allowing you to quite reliably increase your BTC volume, and thus making up for the decrease in unit value.
Or at least that's what I plan on doing. Before I invest it in STEEM.
Nice!
Personally, If I didn't have so much SP and also some various alts, which I just hold, then I'd probably be ok holding more BTC too!
I have been saving for 2 months for this
This person gets it ^^ :D
Cheers for your comment!
Damn scared people. Lets buy! :D
Wow...that is a darned cool picture! Did you create it? Anyway/either way have an upvote! :D
Yes :D Because thats exactly whats happening.
Thank you for upvote kind sir.
Cool! Very nice art. And you're welcome :)
It will be back just like jon snow.....but it came back in next season...😂
LOL 🤑
Actually, I think that could be one of the most accurate predictions I've seen...next season=after summer .. maybe October then:)
Great post.
All I would say to people is to be careful to celebrating success by a rising price, as you will risk thinking that you are failing when then price falls. Focus on developing.
So let us just spend the time we could have spent worrying, and staring at the exchange prices, creating good content and building an awesome community instead.
My only regret is that I used the 130 SBD I got from my introduction post to buy STEEM on Sunday while STEEM was 50% more expensive :/ But no reason to cry over spilt milk! There is always another opportunity ahead as you mention :)
Thanks very much.
The crazy thing though in my situation is with SP, when it halved in price I'm like down $100k!...but of course the reverse is true when it goes up! You just have to take the rough with the smooth:)
But you are quite right. I was until recently a software developer, and I do have plans to hopefully try and do something in the development space re. Steem.
That's great! I am still only getting into crypto (been trading for about a month and a half and on steemit for less than 2 weeks), but I have a lot of friends from the StartUp community, many of whom are developers or data scientists. And I am getting more and more of them engaged in the crypto world. WIll be going to Brussels to meet up with one who even got ahead to build his own miner, as we have been talking about doing a blockchain-related StartUp for some time.
It is exciting times to be alive :)
Sounds great! Good luck with that, and thanks!
A great opportunity if the price drops mr.crypto this is not a problem but a boon or a great harvest
You are the best
Mr.crypto
I will call ur name mr.crypro
@xaero1
Haha... thanks very much! ;D
Buy when the noobs panic. Great Post.
Hehe... thanks very much! :)
You are right! It's an opportunity to buy. There's a quote "Be fearful when others are greedy and be greedy when others are fearful" :)
I always like that one, along with this one: "Buy when there's blood on the streets - even if it's your own!"
100% true. Its time to buy now.
You might be right.
Actually, I just bought some myself (steem,BTC,eth)....but I can't advise any one else does the same!!
Haha. Jon Snow.. The winter is coming!!Today you can see so much of greenery over Poloniex and Bittrex after around 20 days. Let's hope this trend continues. From now on i will always save some bucks for bearish market to make most of it.
I guess 'winter' finally arrived didn't it? Anyway, only a few more days until the new series!!
I think you are sensible with that plan. I always try to keep some of my portolio in crypto, but some in cash. The cash is for buying the dip/crash! ;)
By the way who is your favorite character in "GOT"?
I think it has to be Tyrion...easy choice! After that, probably Daenerys ;)
Haha..same pinch. That dwarf is really funny.For me Jon Snow(Kit) would be next as I really like his personality.
Jon Snow.... yes, but he's always going to be predictable :) ... i mean everyone except him could see he wasn't doing himself any favours by always 'doing the right thing' and causing the conditions for the people around him to turn against him. Guess that's exactly why people like the character though! ...haha :D
opportunity i am grabbing it where where is it
Nice posts... haha :). Thanks
When I see that some Steems are at an unity price of 1 SBD on the market, and I don't want someone to buy it before me:
Haha ;)
@xaero1 , I plan to buy ETH before the end of this month with USDT. And by the end of this year, I expect ETH to rise to 450 or 500 usd at least. If I buy it at $180 now, or even $200, then I hope to double my money by the end of this year. I think taking profits in USDT is a good idea. It can help us slowly build our portfolios. In Poloniex, you can buy / sell ripple with USDT. As you know that lot of people have stuck their BTC in ripple, so even if BTC doesn't rise, or is affected with hard/soft fork or whatever, we can take our profits in USDT.
Thanks for your comment.... I expect ETH to rise again at some point, and provide pretty good gains. I just don't know when though. For me, it has a lot to do with (1) when the switch to proof of stake becomes more concrete (2) whether the inflation schedule decreases before then, and (3) hype building for the release of metropolis.
Once or twice, i thought to trade my BTC for some ripple during a downturn because sometimes in the past there's been a negative correlation. But more recently I've found ripple has gone down more!....and personally I really dont like the concept of it - so although I've traded it sometimes, I still don't ever really want to hold it :)
There are other exchanges which provide much better liquidity for trading BTC or ETH against USD.... e.g gdax, bitfinex, Kraken, bistamp. On occasion I've tried USDT but the liquidity is no good if you're trying to trade something like $50k of BTC :)
Thanks for sharing my man! Glad to see there are many people with some similar thoughts about the market. I'm still believing the future will be a bright one, so this is, like you said, some opportunity. But i could imagine, that more marketcapital will leave in the next time, sinse it god bumbed hardly...
Yes. Crypto is a tough world if you aren't so lucky when you buy in - or if you don't have the right long term game plan!
Big shopping is ahead , like after week or bit longer, before 1st of august... there is so many great coins out...
Like it!
Thank you for the knowledge, I note your post is always about trading. I want to learn a lot from you. Sorry before, I just happened to join and new to make an introduction of self. Would you help me? Please upvote me. Help please https://steemit.com/poetry/@adeliahamid/hello-from-djakarta-hi-steemian-this-my-introduction-2017816t23503647z
You are right man! I resteemed this for my followers! 😁
Thanks very much!
It is so true.
It is a pretty good time to start investing in the markets and some people believe it will even drop more.
This is what I like to say, 'coins going on sale' haha
It is so true! (completely agree :) )
Just a hiccup, might not be over yet... but just a hiccup!
That's reassuring to know ;)
Good post, I like your post. And i will vote you
Hope you follow me and vote me @xaero1
Good post, thanks for sharing your opinion. If people will remove greed and buy low -sell high then they will always be in the money however you never know the next move now. Better buy steem and power up
Thank you. Great comment, and I don't disagree.
welcome
Grab them Lets Attack xD
Haha nice one....let's attack those 'weak hands' ;)
@xaero1 I think any opportunity is the 'ideal buying opportunity' if you have spare fiat to convert into any worthwhile asset then it doesn't matter what you bought that asset at. After all the fiat is intrinsically worth sweet FA anyway.
That is why I believe people shouldn't fret over the price and just buy it. You are effectively trading nothing for something.
Hehe, nice comment ;)
If you already hold some bags , do your buys on Mondays play with the bounces and be prepared for September / Octomber ! ;) Fear not August everything is going to be well !
I'm playing with the bounces right now, but selling after!
Looking at the graphs of ETH (and BTC) I'd be a bit surprised if the lowest point we reach won't be lower than we are currently at.
I'll only be looking to 'hold' these assets again when we've reached a flattish bottom and/or a double bottom, and when the 3-day or even 1-week MACD goes green again. I think this might be quite a while away, however :)
P.S. I'm still holding some bags, principally STEEM POWER :), but I'm actually adding some to that one at the moment because of the cheap price!
My mid/long are safe in my wallet! atm im touching only low mcaps , waiting for btc to go sideways ! cha ching ;)
awesome post @xaero1
i want to resteem your post, i like it
Woww amaizing..
@wahyusaputra
how low bitcoin can go whats your thought !!
I quick guess is that once it reaches it's highest point that it's going get for a long while, then it might halve in price after that. So if it's not going to get higher than $3000 then I guess we could see $1500 again at some point. However, $3000 might not be the highest point it gets ... if the eventually top were to be $5000 then I think the low point after that could be $2500. In other words, I don't really know at the moment :)
I have been making slow posts too because the sea of red is too much to think about. I should have got some steem but i need to break the psychological barrier too. ohh the humanity! have a great day!
Yeah, it's difficult to trade when you see a lot of loses on paper. But I try to think about any assets that I hold long term as seperate from my trading account. And, if I've done my job properly, as soon as we start on a down turn, my trading account should be completely in fiat. Then I just try to put my long term holdings out of my mind on a crash, and use my fiat to buy back in and hopefully earn some money on the bounce-back.
Nice post,You are a great man @xaero1
;)
great post @xaero1
iam agree with you
Thanks. Are you planning on buying some crypto yourself at some point?
I think I want to try it !!
Well, you'll already got some steem power in your wallet, which is cool imo :) Steem power is currently my favourite crypto, but other people might suggest other cryptos to consider e.g. Bitcoin, Litecoin, ethereum, and others.
But investing in crypto is not for the faint hearted!
If you'd invested in ethereum around 4 months ago, you could have made something like a 7x return (however chances like this are pretty rare and may be unlikely to repeat much in the near future). But, if you'd invested a month ago you would have lost half your money :(
I would suggest it's best to do a lot of research first in order to know what you're doing. Also, a key rule is "don't invest more than you afford to lose", because in crypto it really is possible to lose just about all of your investment (if markets are bad, or your choice of crypto is bad)!
Thanks for the advice and assistance of the master
I am still a beginner and a layman in this field, so please guidance @xaero1
Thanks. Feel free to ping me if you have any specific questions.
I just buy&hold as Warren Buffet. If you believe in something that is going to last for years, just buy&hold. I find in the bear market only opportunities
That's a good strategy.
For me personally, though, it's a bit different because I'm trying to do this trading thing full time / 'professionally' ... so it's a nice if I can make some money on a regular basis even if the market is falling - or more to the point, at least try to minimise capital loss during a down turn!
I see, but you must be sitting on some serious cash, else it is not profitable. By serious I mean around 500k. I might be wrong on this one. I'm still working fulltime and everything saved is invested.
You are quite correct. I don't think it would be remotely sensible to be 'investing' into steem (and locking it up as steem power) if I didn't still have at least a similar amount of funds left over to play safe with! Basically, I was just pretty fortunate to catch the recent bitcoin and ethereum bubbles at the right time.
Ok, now I see it. Checked you SP :))) It makes sense ;)
I think also if you double up here in 200 days is not that bad :D
Haha... thank for your comment... I like it! :D
If steem goes below $0.50 I might be tempted to 'double down' as they say (double my stake), but I think I'd only do that once the charts definitely looked like they were not going to fall any more (I.e., long period with flattish price).
Thanks ;)
Also, as a strategy for you to get more from steemit as I see it(my only strategy and opinion, so I might be wrong):
Try to publish your post without upvoting it for the first seconds till you get one, two votes, then upvote in full as you have over 30$ vote. By doing this, you will be some minutes on the hot page and people will rush in to vote you as you will give them more curation by having a bigger sum already added. Your posts are good and might not be seen as they get very fast down in the noise. Mine at least do.
Hope that this strategy helps.
i am waiting let them come
I want to resteem your artickle..
Good post
@xaero1
Thanks :)
great post @xaero1
i really like your post
Step by step toward change @xaero1
Best post @xaero1
Ah, no need to apologize...I'm sure we've all been there. I know I have many times. I actually lost interest in cryptos for like three years after one major crash...haha. The fact that it recovered the way it did in 2017 after languishing the way it did for so long after that crash around three years ago cemented in me an overarching resilience in my belief in this and no matter what happens now, I will never again doubt cryptos. Glad you're feeling more optimistic today :)
Hehe.... yeah, that was the way i felt...but that's kind of how nearly everyone feels during a crash (right?). But that's when the smart money comes in to buy! Almost always it's a bad idea to panic sell (but not completely always!)...so one has to be very careful to avoid anything that might hint at that suggestion (which I completely tried to avoid)...but did think it would be good to make a follow up post to balance the 'sentiment' I expressed in the previous one!
People are in panic as value is decreasing. But it will soon recover. This is the advantage for us to gain profit by buying now :)
I completely agree. When people are panic selling it's an ideal time for a trader, if you can just pick somewhere near to bottom to buy at. However, in theses situations, I personally will typically take some profit and sell shortly after... I only feel happy holding when it's a bull market which I'm not so sure about just now!
1000 % true. Its time to buy now @xaero1
Thanks for your comment, and welcome to steemit also!
Personally I bought some today, but I don't know that I'll be holding it long term (all except steem, that is ;) )!
Thanks for reminding!! Nice post!!
Cheers
"I've no idea when the ideal buying opportunity might be, and at what price. Maybe it was today, maybe it will be next week, or a month from now, or a year from now"
I agree fully with you
No one knows tomorrow's price or circumstance.
But I think it is good time to invest in the markets, right now.
The next move on steem will come soon
Regarding BTC and ETH..I will make a post soon hopping to be helpful for buyers!!
Its looking not too bad on poloniex right now....nice bounce after a very high volume downward spike ( up 20% now from the low point). This is a good pointer for a v-shaped bounce back. However BTC has been falling so it's not really the complete picture.
I think will test 1850 before any rise
BTC I presume - yes I agree. Wouldn't be surprised if spiked a bit lower than that briefly either.
I agree with you
I think is 1850.00 good to buy
https://steemit.com/bitcoin/@lordoftruth/bitcoin-trend-12-07-2017
Also must be becareful due August 1st Bitcoin Hard Fork - Segwit2X
thank you for sharing :)
Excellent comment, many people hope to start.
Thanks very much!
Good post
Cheers, and welcome to steemit :)
Do not give up easily, do when you make sure, and follow the tips of the master @xaero1
:)
I will be waiting for your charts, and hope they will help the community which is reading your posts closley. :)
Thanks. If we bounce right now, I won't have a chart; but if it's going to be a longer lasting correction, I will hope to do that.
Haha ,so true ,I also created my meme on my blog 😀 looks like this theme is actual atm 😀
Nice :)
OOO Please make a post when it is time! :) Will need you expert guidance.
If we bounce now, I won't be able to make a post....in fact I don't anyone really could .... because with a v-shaped bounce, you can only really tell if it bounced after it happened!
But if it's going to be a longer period of time as I suspect for the correction to complete, there should be plenty of time to see posible predictive formations appearing.
Maybe we will get lucky and the shape will just be a straight line up to the sky 😉
It's hard to predict the future... but I'm sure your analysis is pretty good!