STEEM rally again?
each time STEEM rallies back to its previous highs, the speculation rises up is this a trend reversal?
If you are one of those who follows STEEM news and chart, read this post.
STEEM was above 4 USD right a year ago, experienced a sharp fall to 1.7$, back to 4 point something for a while again and then from April 2018 a continues downtrend started.
$1.6, $1 and 0.85 usd were the support levels which it broke and now it is where we are.
we had several rises like what we had today, gaining some of the lost value in less than an hour or few hours. what are these spikes and how shall we consider them in our trading strategy?
whales and power downs
You have heard about them, the have large stakes at STEEM blockchain. like steemit, blocktrades and others... regretfully we have recently witnessed whenever they attempt to a powerdown, they manipulate the prices by printing SBD or other Monetary instruments which the STEEM ecosystem provides, like the reward pool policies which causes inflation or deinflation, to gain more out of their tokens.
I can understand they have costs as medium to enterprise size corporates which they have to cover, but it seems we are experiencing short-sightedness sypmtom! they have lost the big picture and have obviously stopped being innovative and creative.
Corporates need to be, sorry, MUST be innovative to stay at any challenge.
In the longrun, I believe, they will lose this competition, to those who may take over more shares of STEEM blockchain or with those who bring up new solutions and new platforms to STEEM members.
What will I do?
I do believe my tokens worth way more than 30 cents or worth nothing! I take the risk for a real rise, it should happen in 2019. this is what charts say. but fundamentals are also completely diversed in two completely opposite directions: going to moon again or disappear six feet under!
STEEM and steemit can change the social media game, if someone like Sean Parker was in charge! maybe someone in the witness circle or one of the whales or a community of dolphins together can rescue the platform. or maybe @ned miss the chance of his life, since nobody will forget his resume and I do believe his future career is locked to steemit success.
I got acquainted with digital currencies from 2016. At first, trading was my only goal. But after a while, I realized that this market is not a good place for trading. Just because of the high risk. So I decided to follow trading in the stock market. And in the digital currency market, I'm just looking to invest in high-potential currencies.
Steem is one of them. At the moment, I think the Steem is relatively low against the dollar, it's the best time to accumulate the Steem. And when the market was Bullish, it's time to cash out and profit. This time can be 2019, 2020 or 2021.
steem is yet another risky investment, but if you consider the possible loss 30 cents and the tp @ 1.6$ which is not unlikely, the rtr would be more than 5, which is GREAT!
So I consider it a proper investment
I consider my time to be my investment here and actually take money out several times a month to live on in Malaysia. I have been doing this since Dec 2017 when we were having very good times. I post 2-3 times a day on 2 blogs and have not put money in.
Last spring I could count on a price rise each weekend and usually took my cash on Sunday morning. This is no longer dependable but I do see smaller pumps and dumps which I'm sure is done by our giant friends.
My biggest hope for steem is to get investors in here. These would be people who pay to get minnow, dolphin, or higher power right off the bat. These are the people who can dilute the power of our current whales and this cannot come too soon. The more new blood the better in my vision of this place.
very well said
about steem hopes, don't underestimate the magic of SMT if it starts working and people begin mass adaption
I believe with might be fine despite the drama and everything around!
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i hope so 🤞✌
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