Just because we are amongst a red sea in the crypto markets today, doesn't mean they are all actually suffering.
Remember, Coinmarketcap displays, by default- The values of all tokens and coins, compared to Bitcoin itself.
The USD value is down since 0.00031432 BTC is worth less. Steem itself, is down roughly 17% at the time of this blog, but above the low from yesterday which was $3.02 (when BTC was above $14k). So actually, looking at it this way shows that Steem is a safer hedge than even Tether.
Until tomorrow, we won't actually be able to judge the damage done, since we will need to compare its previous volume with this corrections'.
To make money in this market, the best advice I can offer is so go against the crowd, and keep an eye on Korean markets. Steem on the Korean site Upbit (which has more volume than Bittrex, is currently $3.95) for a total volume of 42.8%.
Anyone here on Steem sees that today, is no different than yesterday for us. Nothing here has changed for the worse- Its only getting better. @ned (@certainassets on Twitter) posted a great Steem stat tracker, which I think you will agree shows the health of the platform. https://iworldpark.github.io/steemit/stat/post/ I think the best indicator on this site is looking at the 3 month chart for posts/authors.
So while everyone else is panicking, don't dare to sell your Steem. Short-term we could see $2 before a new higher high. SBD's on the other hand, I wouldn't doubt if in an upcoming hardfork they figure out a better way to peg this to a USD value to protect the rewards pool.
On another note, why the heck is actual @bittrex sending SBD to boost this garbage?
https://steemit.com/kimpoo/@kimjongpoo/i-kimjongpoo
@rcarter
@bittrex isn't sending anything. That's from a person who is sending from their bittrex acount.
use blocktrades!
Blocktrades is charging too much amount. Indian users are finding it difficult to cash out. In this way it's not a good platform to work on. But if the prices of steem go up higher then most of the exchanges will start accepting steem & SBD on their platform.
Let's wait & watch
Steem Next Profit Price Target
So you say go and our SBD before it's too late, am I right?
I believe this will likely be the only era of Steemit where 1 SBD can be exchanged for 1 Steem, so this is a great opportunity.
But what do I know? lol
Probably correct!
tnx for upvote and SDB
Not sure what this means.
test.
2
Hopefully back to 5
5 SBD seems to be a fair value imo
Sell your SBD’s, keep your Steem.
Steem power for the win, gotta grow dat influence.
The downward fall of steem power is cause for concern. I do hope that something drastic much be done to remedy the situation and safe the soul of steem as soon as possible. I follow and upvote you.
You're so nice for commenting on this post. For that, I gave you a vote!
To the moon! and over!
Although saying STEEM is a safe bet is inherently biased considering the platform that the message exists on, I am inclined to agree anyway. Great article.
I agree with your general idea of HODL'ing steem. It's silly to sell off at this stage just because the price reached an all time high and is now starting to drop.
However, I have transferred some of my Steem to Bittrex, because I want some liquidity for my Steem. Nevertheless, I do believe in the platform and looking forward for Steem to reach new highs!
I've got a question regarding these bid bots. I recently spent approx. 50 SBD on boosting my post, (first time I'm properly using these), and my post maxed out at just under $200
There are still about 4 days left until payout, but as the price of SBD is dropping, I can't work out if this will end up as a profitable move. Given that 50 SBD is approx. $200 at current market value, and I need to consider the curation rewards, I'm guessing no.
I tried this experiment because I'm tired of writing content which isn't seen by anyone, and noticed that all the big players are boosting their posts. But as I'm still technically a "minnow", and haven't yet built up my following, I can't work out what I should aim for in SBD investment to promote my posts, and still make it profitable. Any advice would be much appreciated!
Yes
I hear you buddy. Not much of a blogger. Frankly I just like venting into the ether to placate annoyance at what the uneducated prols are doing right now. Love new comers to crypto, but an uneducated newb is a dangerous thing these days.
On an actual related note, I've found right now that just loaning mine out on MB nets me a reasonable return, and I'm only really in it for the long term.
Its actually a good opprtunity to buy some more steem with fiat!
@rcarter I think that STEEMIT is going to be Wonderful going Forward. I Love the price being down to buy more.................
I bought some more Steem power yesterday.
Pre-correction? :) I bought some literally hours beforehand at over $4 :P
It was at $3.62 so not to bad. Just bought 100 more SP at 3.06
I agree with you @rcarter, STEEMIT is stable in price compared to others. And on top of that, Steemit provides a real value instead of just storing value. Just imagine how much content is created on this platform and almost none on the other cryptocurrencies.
Tether is certainly not a hedge, Tether isn't actually anything at all. Tether is simply a notion that something, somewhere has that amount in fiat, and that notion is kind of laughable or they would already have allowed an independent audit and continued to allow US customers to use it.
Yes, user activity is good, but not all new users are necessarily interested in being a price support for those who want to sell, nor are they fully capable of absorbing the volume of sell-side pressure (or we would have seen them do so at previous price levels).
I honestly think that, because of the exchanges steem and sbd are traded on, and the price action I've seen on other coins that have been pumped, that it's highly likely we'll see a return to the price before certain entities took an interest in boosting the price. That won't mean the end of steemit, but steemit's reputation is on the line and they're going to have to do a lot more than what they're planning with hard fork 20 to save it and the value of a steem coin.
Tether can be used as a hedge, if you are able to exit your position fast enough. However, I agree that its total BS, and I personally wouldn't risk using them to try and buy the dips.
I hold 95% of my crypto in BTC, and don't bother moving in and out of trades since this requires a lapse of security, and moving a lot through exchanges that I cannot trust.
If SMT's roll out successfully, I don't think we will have to worry about Steem price correcting this low again. I read the whitepaper, but am not sure if our SP here translates to much on other sites that will issue their own coin on the Steem blockchain.
_Rob
Smart move in not moving.
I guess the same general notion can be applied to users on steemit. At least with the internal market structure they can just play around with sbd and steem locally and not have to risk exposure to external exchanges, even though they might miss out on profit-taking, they'd also avoid the situation of getting their money completely trapped or stolen.
Yeah, some good SMTs might add some baseline value and demand for steem, but it might become an issue like other coins have where parallel economies don't elicit strong demand for the root one.
It will go to the moon! Let's not mind the price but rather focus on making this community great by adding quality content and put more value to it.
I find it much better to configure coinmarketcap.com display in USD, rather than in BTC.
They hit everything in the overnight (Eastern time zone) hours, ETH finally cracked. If you are in cryptos for the long term it may be better for you to not look at the quotes so often. There is more carnage coming based on how I read the charts. Soon there will be nice opportunities in some long term winners. I like EOS, Lisk, Powerledger, Civic and Stellar (in no particular order and not quite yet.
The concept of Steem is so beautiful because the social media aspect is in the center of everything and not the Token... The downward trend is a bit of a concern... But nobody is quitting social media... ;) both of them will rise high...
Thank you for the post. I think you’ve made some insightful comments but with all due respect I think that price predictions are completely misleading. There is no way anyone could predict anything in this market. Did we predict the bull run in early Jan? Did we predict the major sell off today. It’s simply impossible, otherwise we would all buy and sell at the ideal time. That being said, other than a price prediction I do Steem growing as the website and the demand for blockxhain technology is growing. Looking at data charted, we are now in the top 1800 websites im America. We are working our way up and as crypto gains Steem them Steem will as well. Keep promoting this growing community and eventually we will get to higher valuations with patience! #hodl
Look at the price history of BTC when I made this prediction.
You have to consider many different angles, when you want to make good predictions. Not the technicals- But the fundamentals.
Wish it was 15k again
Btcp is moving on up... I won't be sending keys to claim unless its very worth it though
Indeed you are right, many people do analyse data only without considering the fundamental which is very very important!
soo sbd not back at 10$ or more i need sbd up not only steem lol
To the moon!!!!
The spike in SBD price never made sense, and I actually think the way this platform handles it is fine. If some yahoo's want to speculate and drive the price of SBDs up, better for Steemit users.
If the platform always treats SBDs as though they are worth a dollar, then there is massive pressure to sell when above $1. Eventually the irrationality will leave and the peg will function as intended. In the mean time, enjoy the basically free $.
Thank you for pointing out the actual situation.
I have stopped to look at the charts everyday, as the young crypto market is very volatile and every message seem to shock the prices massively.
I trust on the core value. This is the platform, the blockchain and the clients (in our case the users) of the platform.
If a service is able to attract new users and scale up quickly then the price will (long or short term) represent this..
So I'm not worried at all about the future development of Steem....
Great Blog!
Let's continue to connect to each other as we submit more content!
Luppers :)
This post has received a 30.20 % upvote from @booster thanks to: @rcarter.
Selling your steem at this particular time would be a very bad idea, you'll lose a lot when the price comes back up.
Yah it's buy LOW sell HIGH. And this is probably about as low as it's gonna get imo
I hope so
I hope it doesn't get any lower than it already is.
I would assume someone just withdrew STEEM from bittrex straight to the booster username as the destination wallet...
You know I was about selling off the few and I have made so far but thank God I found this post of yours... So asides what is going on in the cryptomatket, would you still suggest upbit against bittrex when the market gains itself
Thanks for your good advise and most of my neighbors still keep their position in rigid. We will be rewarded in some weeks or months depends on how we are confident and give attention in depth.
Thank you @rcarter for making a transfer to me for an upvote of 51.47% on this post! Half of your bid goes to @budgets which funds growth projects for Steem like our top 25 posts on Steem! The other half helps holders of Steem power earn about 60% APR on a delegation to me! For help, will you please visit https://jerrybanfield.com/contact/ because I check my discord server daily? To learn more about Steem, will you please use http://steem.guide/ because this URL forwards to my most recently updated complete Steem tutorial?
Buy, Buy and Buy, thanks for the post, I am buying it more today.
SBD and Steem is an awesome long-term (1-year) investment.
here is prediction list which caught my eye. HODL!!! great post though @rcarter
Please when was this analysis made, ild like to know the time range. Im pretty anxious
I don’t have any cash! If I did, today would be so very sweet!
Nice post. I advise against selling your steem and sbd
This is good line
Thanks for the msg
I think steemit is going to be Wonderful going Forward. i am resteem your post.
💰Ooops! All the top coins are in red, but we remind you: no panic! Cryptocurrency rates for the moment🔻
📈Bitcoin $11104.40 (-16.70 %)
📈Ethereum $987.17 (-20.45 %)
📈Ripple $1.18 (-27.24 %)
📈Bitcoin Cash $1731.28 (-24.24 %)
📈Cardano $0.57 (-22.27 %)
📈Litecoin $181.06 (-19.81 %)
📈NEO $131.80 (-23.94 %)
📈NEM $0.95 (-27.20 %)
📈Stellar Lumens $0.42 (-23.96 %)
📈IOTA $2.52 (-25.51 %)
📈EOS $9.86 (-22.25 %)
📈Dash $758.21 (-17.43 %)
just tell me when to get back in the market. lol.
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Thank you for sharing bro carry on man I really like your post
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Interesting info
I think best strategy is to add small quantity of SBD in every dip. From the day I started using this platform all I can say is the Kind of platform, witness, content creators, curators, its team, other apps developed by witness, utopian.io develooed on steem blockchain i think future is very bright for steemit. Who knows we may not these these lows again. This could be last opportunity to buy at this price. I have already startes buying coins which have corrected 5 times or more but only those which I believe will perform in longer run.
@rcarter Thanks for the post and giving the confidence at this time to community.
thank you for the great info ! resteemed
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Thx for sell your SBD
That is very much true. Steem will hit 7 up to 9.5 this year. It is obvious because as number of users increase volume become low per capita. Meaning number of steem coin holders will increase but there number of holded coins will decrease. Therfore scarcity will happen. So now is not the time to sale but instade to collect.
Respect
It is absurd that people fall into panic because the steem loses its price, all the cryptocurrencies have happened in a while and anyone who knows this world knows, only those who despair in a small slip do not know anything about this world, calm down and wait for the tide to change is the most indicated in these cases.
Haven't read a great article in a few weeks . I agree with you on various points - what's your take on steemit as a platform and technology intergrations we might see in the future
have you seen bcc? Becouse of lack of confient they have decided to close platform! :O
I have. And I personally had a lot invested. I made my money back, but still had capital releases due in March... Worth more than my acct. here on Steemit.
Guess what I did when they closed lending? I moved all my BCC into staking. They are down, but not out. Want to hear another bold prediction? It will rise to $100+ by this time next month.
awesome!! thanks for your suggestion.