Altcoins Suffering? Are Altcoins dead?
BTC going up... alts going down?
The same cries for help that I've been hearing for months... altcoins are dead, they are going to 0, they are always going down, blablabla... are they though? Are all of them going down? Or is it just that BTC is going up more than the altcoins are?
ONT vs BTC
If people see the alt/BTC chart than yes, the price in BTC is going down, but that only means that BTC was a better investment in the last months, which is obvious, it's the store of value of the crypto world. But if we go and look at the USD charts many of the altcoins are already in an uptrend.
Look at ETH, ONT, Tezos, Quantum, etc... all of them are in a clear uptrend in their USD chart, which means people are buying them, just not as many people buying them as there are people buying BTC, or at least not the same amount of money flowing into them.
Just because gold's price is increasing more than Amazon's stock price doesn't mean Amazon is not worth hodling or is dead...
ONT
TEZOS
ETH
Where does STEEM fall into this... Well, STEEM is not in a clear uptrend, unfortunately, if anything STEEM is doing a double bottom at the time of this being written. What does this mean?
STEEM - Not in an uptrend... double bottom?
It might be obvious for some, but not for everyone... more people are selling STEEM then buying it. Why is this?
Well, we can "blame" different factors:
First the whale factor and circle jerkers... Whales and circle jerkers generate huge amounts of STEEM just through delegations to bidbots and they dump their STEEMs on the market, literally THOUSANDS, per day. Nothing wrong with this, their stake their money, we can just scoop them up from the market and by doing this we are decentralizing the power inside the blockchain.
Second, the fact that we got many different scams on STEEM during the bull and bear market. All of the STEEM scam projects that ended up generating thousands-millions of STEEM are still being dumped on the open market, pushing the price down...Again, nothing wrong with this, we can just scoop them up and use our newfound SP to voice our opinions when it comes to scammy projects, and even go so far as using our SP to flag such projects.
You guys know which projects I'm talking about, Dlive, magicdice, steepshot, etc... projects that generated thousands of STEEM to their owners and that are being actively dumped on the open market.
Third, we don't have enough buy-pressure...after the huge bear market it's normal, anyone that is trying to shill STEEM to other people at the moment must know how hard it is to shill crypto after the huge bear market.
We need to keep hodling and hoping for better days... I believe that STEEM will be worth much more in the future, we just need to develop the ecosystem for the buying pressure to increase.
I do have some ways of how we could increase the buying pressure, but some of them wouldn't be accepted by the community very well because it would involve things that the crypto community is very against... like selling the data of users that volunteer and don't mind and having those users being rewarded in STEEM.
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Question of the day: Are you still buying STEEM? Do you have any goal SP amount in mind?
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I am still buying although a bit more cautiously but I still have my goal of becoming an Orca over time. Until then, will continue to buy, earn, and hold Steem.
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From what I can see, now would probably be a good time to buy... double bottom just above a support from early 2017...
I might very well take the change and buy a few bucks of STEEM to increase my stake... Only bought once to stop the damn bandwidth error, never bought again because I was sort of predicting this, there was way too much circle jerking, whale dumping, scamming,etc... for the buy pressure to surpass the sell pressure for the price not to come down here. But now that it is here, I might think about it. I was aiming for 15 cents per STEEM, but I don't want to lose the chance and be left behind bag hodling fiat xD
Thanks for reading :D
I Think a Lot of People are here just to earn a Lot of money (as 2017).
When the value is low they sell. More sell less price. Less price more sell...
More this way in steem Than crypto with other funktion.
Posted using Partiko Android
True... thank god we have the 3 months staking period, if not I don't want to imagine what would happen with the price of STEEM
In Some way it Maybe possible to Predict future price If we can see the amount of steem that is going on to be power down. Do you Think so?
Posted using Partiko Android
I don't think so, it involves many things, power down, inflation, and traders, there just isn't enough demand for it... but at these prices I think it's a buy
I agree BUT as usuall we Only hear "buy buy " . Not so often "sell sell"
Posted using Partiko Android
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