Crypto Recap - Is This The Bottom?

I wish this is the last time I put a bear picture on the opening photo but I thought that it is appropriate right now. Spirits have never be lower and widely called bottoms are coming from all sides.

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After the tightening formation that lasted so long, too long, we broke lower. Obviously nobody knew which way it would go so people set stops that created fear and then they set next stops, more fear and that is the cycle which lasts up to this moment. 3k is an obvious support and if we don’t bounce soon it is going to be where buyers show up. I don’t believe we go below 3k, i just can’t help myself being optimistic here.

On the other had, alts are much harder to decide on. They seem worn and torn yet BTC dominance is still only 55%. If people really give up all hope and sell all shouldn’t we see stronger BTC? But some have little room to give any more. EOS today had especially painful push lower. That was 23$ at one moment. Ouch!

And STEEM? I’d buy both STEEM and SBD at this time. SBD seems naturally god as an attempt of a stablecoins so you can bet it goes only up, unless they seriously weakened the peg. By weakened I mean discarded. The most that I like about SBD is a very small market cap, If it would act like some other stablecoins, it can multiply at least tenfold. Look at PAX at 137 million while there are 13 million printed SBD. STEEM on the other hand, looks very devalued. Once it was worth almost 8$ and now we are below 40 cents. I picked some up just to let it steam for a few months. Wish me luck!

Are you scooping the bottom?

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