I think in this sense we somewhat have it easy on STEEM. Due to the fact that the tokens we make always add to our influence on the blockchain, the price of STEEM is not the only reason to accumulate and to hold, at least short term. That being said, it's not easy for all the other bag holders, and some are rage quitting hilariously.
I will say this much: I do believe alts will bleed more, and some considerably more. But, I'm also confident the bounce will come, simply because this is how these cycles happen. I'm not going to capitulate like some of these avatars I keep on seeing on my feed, I know better.
If we really think about this, there's one main reason why BTC is creeping up right now, and that is because people are handing over their bags to whales and chasing BTC. In other words, they are creating their reality and giving away their opportunity.
As we've heard a thousand times before: Money moves from the impatient to the patient - That, my friends, is precisely what is happening at the moment.
Trade safely, or better yet... don't trade.
MenO
#teamhodl
That's what you call '' WEAK HANDS ''!
<3 . I spent a good portion of my life watching that show <3
I have the whole series saved in one of my laptops :)
What show is it?
Battlestar Galactica
https://www.imdb.com/title/tt0407362/
Being an investor just sitting back and looking at XRP set up all the wrong reasons about why you would want to invest a single dollar into it.
In my opinion it is the biggest overpriced junk coin of them all built on nothing but Hype.
I do feel Altcoins will still see there day again. However it will be limited to certain coins and tokens. Ones that have a development team, advertising and just a solid plan moving forward.
Bitcoin got all hyped up on FOMO and ETF approval. Well now ETF approval is totally out the window again because of the wild swings we just had. No government is going to approve bitcoin for massive trading it is far to risky for that money to flow out of that country.
Buy and Hold, buy on the major dips and hold. Look back in a year or two and you should be sitting in a rather good spot.
Until altcoins have a capitulation that allows most to disappear given their failures and worthless tokens, the market will continue to follow bitcoin with only a few that could probably buck the trend.
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Sucks I don't have enough Bitcoin as I could've if I didn't fill my bags with Steem, but i'll be dammed if I participate in another bull market not a dolphin on the Steem blockchain lol
Excellent summary on what's going on now
Excellent review @meno and you are right, now need to be extremely careful in the auction and weigh everything very well before making a decision!
So true, so true.
Right on spot. HODL !
XRP is having a terrible day today along with all the other cryptocurrencies. One thing to remember is that these coins don't pay real dividends (dividends are a share of income) and some of the 'traders' may be hit with taxes. We still don't know how any of this will go and using words like 'never', 'explode' and 'promise' when talking about speculative investments is a huge red flag. I suggest no one takes advice from a person with the name bones_xrp or anyone else who speaks like that.
Thanks for the laugh MenO
LOL @ those tweets only being 2 weeks apart.
XRP zealots crack me up. So gullible. So aggressive.
Aggressively gullible is quite the combo.
I'm holding as well, but I won't be putting more in until sept/oct. I'm going to save everything I have to price average buy during that time. (probably all Steem).
I really have every coin that I want right now... except for Monacoin. Steem is the only currency I actually use, so I feel like I have to go all in on it during the next dip. Although I may get greedy and try for the whole double run up via buying Bitcoin and then trading down to Steem.