The Streets Are Red!
Bitcoin seemed to leech the market cap from altcoins for a boost up to $8500. Now that it's fallen another $2000, it seems that altcoins are getting stomped under the pressure. Steem is below $1 at it's previous baseline. Ethereum is lower now than it was in June, August, and October (2017). SBD is very near $1
Time to buy more crypto!
Did you know it only takes 5000 SP to become a dolphin? That's less than $5000 right now. When you consider how many minnows, orcas, and whales there are that only leaves room for a few thousand dolphins. Sometimes it's more worth it to work those extra hours at your "real" job and simply buy Steem straight up. Honestly, sometimes I wonder why more people aren't willing to do that, but then I realize how most people spend their money and I'm like, "Oh right, I forgot."
For me, this dip has no sense of urgency. This has happened so many times that I no longer have the urge to get my money in as soon as possible. Perhaps this is exactly why I should be buying more. My gut instinct always seems to be way off. At the same time, I'm also starting to think that the market will trade sideways for months with little variance before we see another bull run.
This recent slump has shown that Bitcoin remains top dog and has far less variance than the rest. As much as I am unimpressed by Bitcoin, I have to check myself and admit that I've gotten way too ahead of myself. Few people even understand the complexity and value of Bitcoin let alone any other altcoin. Unfortunately for my idealism, Bitcoin is far from dead and has a long way to go. Bitcoin is the "gateway drug" to the crypto world. Maybe I should buy some... NAH!
Keep your heads up Steemians! It's always darkest before the dawn.
Didnt expect it to fall so much recently. Not sure when to enter.
I would say now is as good a time as any. However, I'm not expecting a run up any time soon so you could safely wait as well.
With Binance at it's ultimate support of $12 and Ethereum at all time lows for the past year there may be a good chance this is a despair phase... or approaching one.
Great minds think alike. I convinced myself to trade the rest of the little I had invested elsewhere for Steem before the price goes back up.
Agreed, and I have invested for much of my SP I have. I would do more but just moved a month ago and landed a job that starts tomorrow. I figure by the end of next month I should be able to square stuff with Coinbase and have some money to begin investing more. Of course, by then it will be higher again I imagine, and still worth it.
Bitcoin will be the top dog for a while if not forever. To say that it will be at the top forever or has no chance of being over taken is a mere oversight. I say this because if you've been in this space long enough, you know that anything can happen at this point. Do I think Bitcoin should be in your portfolio, yes. I also think that you should spread your investing throughout the space. Although its hard to predict the real winners at the end of all this RED, with some sense of knowledge and common sense you should be able to figure out which ones make the most sense of it all. Real problems in society are being solved at this stage 10 years after inception after originally relying on the consensus that P2P tech is the only thing Bitcoin and Blockchain can resolve. When volatility slows down we will see the true colors of blockchain and what it is really here to accomplish.
Very good post, my brother @edicted
I like this post, with its beautiful natural charm.
what goes down must come up ;D
@edicted more articles will be?