Steem outlook: Go through the dark to see the light!
Hi, fellow Steemians,
I have been away for some weeks for an exam and several tasks from work. Now I'm back.
Things go tough for the crypto world
As Bitcoin touched $3500, the whole market took a hit with several losses everywhere. I have seen my account value went from $3000 to $1200 due to the massive drop of Steem price.
That's normal for a financial bubble
Bitcoin went through a considerable rise last year from $2000 to $19900 without any correction. Being said, I would expect a significant correction (as we are going through now) for Bitcoin and the majority of the crypto world.
Bitcoin has a significant correction to $3500 (and more to come) in last weeks, bringing the whole market down.
However, for me, I'm not losing hope for Bitcoin or cryptos. For me, it is a necessary retraction before we move up again.
Steem outlook
Let's have a look at Steem:
Steem is following the correction mode strictly, just like Bitcoin. As we are trading around $0.35 for a Steem, I might suspect we might go lower to $0.10 or even $0.08 per Steem (all low support) before we move up.
Time to invest
For me, it is the right time to invest in Steem and crypto, but I will only fund 20% of my capital now, waiting for lower support to buy more.
I have witnessed many people leaving out Steem, and in my opinion, it's a pity.