Bitcoin is heading down. Steem is heading up.

If there is one thing that most altcoins would like it is too decouple from Bitcoin. For the most part, when Bitcoin goes up the altcoins go up slightly....but when Bitcoin goes down the altcoins fall hard.

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Heck, sometimes Bitcoin goes up and the altcoins go down. Generally speaking though, whatever happens to Bitcoin will also affect the altcoins.

I have been saying for a long time now that Bitcoin is due for a correction. Some people think this correction is going to be 30%. I don't think it's going to be as much as 30%, but I definitely can see us going down to $6800 or so.

It is possible that we could hit something like $6000. I have seen people saying that they think we are going as low as $4200 but I certainly would not pull any money out and wait for $4200 because you could really be missing out if you do that.

So Bitcoin is right around $7900 right now. I really do think it is going to fall below $7000. Some of the money is flowing into altcoins right now. Some of the money is flowing into steem right now.... and that is a great thing. Watching us at $0.40 is really nice considering that Bitcoin looks to be heading downward.

I'd like to think that some people are going to keep their money in steem instead of pulling it out to wait for the eventual steem pull back which I'm pretty sure it's also going to happen.

In my opinion it is very likely that Bitcoin will fall below $7000 and when that happens steem will fall back to around $0.32 or so.

You might say that this is a good time to pull some steem out and put it into a stable coin so that you can simply wait for the $0.32 mark and then put the money back in.

I can't argue with that except so the fact that if a lot of people do that then the price could fall a lot farther than $0.32.

It's also possible that the price is not going to go down. Maybe we really will simply decouple completely and steem will go back up to a dollar. If that happens then you're just going to have really missed out on an opportunity by trying to catch the falling knife.

Catching a falling knife in the cryptocurrency market is one of the most difficult and dangerous things to do.

If you're in the cryptocurrency market chances are you are at least a little bit of a risk taker. That doesn't mean that taking a risk is always a good idea though.

We used to think that holding was the ultimate answer.

We used to think that in 2017. It was a really good idea in 2017 after all.

However, most of us know now that when things look like they're too good to be true then you should probably pull some money out.... if not all of it.

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I'm not saying things look too good to be true now, but I am saying it definitely seems like a correction is due, and I really don't think it's a good idea to be, say, putting money into Bitcoin right now when you should probably instead be putting money into a stable coin and then waiting for that correction to take place.

I don't necessarily think the correction is going to be as big as other people think either, but I do think that there's bound to be at least a small correction down to about $7000 or so.

That's not financial advice because I really don't know one way or other.... it's just my opinion.

However, if I were to look at this realistically, I think that the correction is probably going to go down to about $6800 and that the price of steem is likely to fall down to about $0.32 when that happens.

EOS may fall down close to about $5.50 as well.

I don't think anyone should pull money out of all of their investments and just wait for the pullback to happen. It might not happen at all.

If there's one thing that can definitely be said about Bitcoin it is that it is unpredictable and that no one can know for certain what's going to happen.

However, I definitely think that we are due for a correction, and I definitely think that a lot of people are going to try to catch that fall. Some people might get hurt.

So if you are all in on steem, or all in a Bitcoin, you should probably just hold. However, if you are looking to take a bit of a risk....it might be a good idea to put a little bit into a stable coin and wait for a pull back to below $7000.

I think that's what I'm going to do just because I'm kind of bored waiting for things to rise back up.

I'm not saying I'm going to take all of my money from every investment and put it all into a stable coin, but I think putting some into a stable coin is a good idea.

They always say that you should diversify. They always say that you shouldn't completely focus in one area and that instead you should have your money in multiple different places. After all, we never know which coin is going to take off and which coin is going to fail.

Having said that, I personally think that a correction is due and I personally think that even steem is going to fall more.

Don't take this as financial advice though.

Make your own choices.... just make sure you look at all of the available evidence.

Good luck trading guys.

I'll be seeing you soon.