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RE: The Markets are Red - It's the Best Time to Buy!
I think that the market would have crashed anyway even without the segwit to be or not to be controversy. The reason being because it has risen too quickly in the last few months and a fast appreciation in price like that brings in a lot of speculative investors and when there aren't enough of these people left to keep buying the price crashes. I wouldn't be surprised if we enter a longer bear market now regardless of what happens with Bitcoin next month. However I don't expect it to last as long as the bear market that started in 2014 because there is now more confidence in cryptocurrencies and people can see that it has already recovered from a very big crash before
Why is everybody talking about a crash. All coins including steem exploded like hell. I think this is just a correction. It will rise sooner or later.
I think a fall from a peak of around $2.80 to less than a dollar in the space of a few weeks counts as a crash for Steem! I agree that it will rise sooner or later but it's a crash nonetheless. I would be very surprised to see it hit a new high within the next couple of months and in fact in my opinion it will still fall further, which is great because we can buy more for cheaper
Agreed. We great 29X in the altcoin space alone from February until June. We had to give some back for the space to continue to grow. To expect it to keep rising without correction would be just silly.
And I also agree with you that the cycles of boom and bust are becoming quicker now than they were in 2014. More money is coming into the space, more mainstream coverage, it's growing.
Like the way you phrase that up.
Thanks!
Hard to say but you may be right.
best time to buy indeed!
but which one
you got a tip wink wink :)
There are lots. I think Steem is an obvious one.
I think that it will rebound… But if it makes a lower low the pattern is in and we are unfortunately in for a rough ride downwards.
Most people will be too cautious now to buy and that's not going to be good for the price short/mid term