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!
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 :)
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.
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!