Worried about Steem (including Crypto´s) Price? Patience and Optimism will help
Payout is low for those who post on steemit , this includes return on investment in the crypto space which in return has led to emotions especially from the faint hearted. The conundrum, however, is: will it stay like this? Will the price of bitcoin and altcoins fall lower-according to their current low prices at coinmarket cap? , should we abandon steem and crypto space and go back to fiat? What are the best strategies to employ in this difficult time? Here are some few points:
Undervalued Tokens/ Coins: This period is time to do a due diligence and invest in an undervalued tokens. One good one is Ethereum Lyte : www.elyte.tech (1M total supply and less than 400K circulation )that is currently doing their crowd sale see link here at a very cheap price due to low price of ETH. However make sure that you do your research and spread your risks. The good thing with undervalued tokens/ coins is that they are like sleeping beauties and usually leads to supernormal profits.
Diversification: Diversification is the key in order to succeed in the long run. Therefore , do not lay all your eggs in cryptos, rather find a business or job to earn some fiat , look for real estate investments, gold, good tech stocks and alternative energy. These options, however, are good for those with big pocket, however those with smaller amount to invest should find a job that will support their crypto investments or a small business in order to hedge against failure. Note: I am not an investment adviser therefore; these are just my own view points.
Patience Plus Optimism: patience relates to not allowing your emotions to take over you including avoiding rush to judgment and selling off all your investments in panic due to FUD . In situations like this, we all have to stay strong with an optimistic mind that things will be better. Remembers that this is a holiday period and cryptos always bleed on holidays while stock markets are usually on positive trend-reason is that people withdraw cryptos for fiat during holiday periods and shop for food , presents including travel on holiday(hence the positive trend of retail stocks). Therefore, I am optimistic that things will improve after the holiday period and thus now is time to buy and Hodl in order to take profits later.
Conclusion: Bitcoin, Steem and others Crypto´s are currently bleeding due to people cashing out during holiday seasons, concomitantly with constant bad/fake news against the crypto space. The good news is that, this negative trend will not last long , thus we should see it as an opportunity to buying some top coins like steem and other undervalued coins/tokens. Moreover, to hedge our self from external risks, we should diversify , be patience and optimist. I wish you all a blessed Easter Holiday.
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Steem and crypto´s prices are indeed scary however I am in for the long run thus patience, diversification and as you indicated investing in undervalued tokens are keys to succeeding in the long run. Happy Easter to all of you and more success
Very good point as usual, keep steeming to more success, better days will surely come.
THIS IS THE TIME TO DIVE IN AND LEARN...one last bear before the full fledged adoption phase of the public. Patience pays here.
Very good point, thanks for your comment
I agree
yes this is really an explanation that has a real concern for us steemit users in particular, kedaan push us to a difficult direction, with the impact that caused by weak stock prices of crypto, bitcoin, and so forth, I personally is still young in experience and still very limited in the knowledge of this, and I just recognize steemit, I know how tired looking upvote and I know the low price makes us annoyed, but that I experienced before reading the explanation of brother @charles1 so detailed about the state Crypto now, and your @charles advice to stay patient and optimistic, and keep the spirit with kedaan that happened, because patience is like the key to our success, I really understand that patience is difficult, but the patient is always lucky in the future, so I felt a great lesson after reading this post, so I ventured to write a few responses I am in the comments of brother @charles1, although I already understand the risk of being scolded by brother @charles1, because my level is low, my power is weak, I have experience about it, but for me once to be pissed off by big guys, that's a lesson for me, and if this time my brother @ charles1 is still scolding me, i accept with a heartbreak, because i am just a small plangton not a whale or a big shark, so i am aware of it, then i can only apologize to brother @charles1 if my comment this time being garbage in your post, and I am grateful for the explanation and understanding of the current circumstances.
Thank you for your detailed comment, I appreciate that you read the post and commented accordingly. keep steeming to more success.
Long comment indeed ...hahahaha. Charles is a nice guy
I believe that the prices will recover in longterm although it's not true that every price drop has to have a reason. This market especially is pretty irrational and not everything must have a reason.
Good point...however there is a reason to everyhing...irrationality is also a reason isnt it?
yeah, irrationality is also a reason
True talk...I agree. However the reason is clear...holiday season and fud
Hopefully, the cryptos would go up. At this moment, its quite disheartening to see STEEM at only $1.44. Even when the cryptos are falling, you can still make profit or increase the number of your coins, through day trading though, as small swings in prices still happen.
Yes I agree. Buy low and sell high is the key for day traders. Steem price will surely bounce back , so patience is the key
Don'r sell your crypto for pennies....don't panic because of this market downfall... market will correct...market will climb up again.. this morning i read a very good article about this phenomenon ... 'cartels' in crypto world affect the price!!!.... be patient and you will get your rewards!!!.... nice article charles... i agree about diversify your portfolio ,especially on gold purchases!!!...
Thanks for your comment...and keep steeming to more success.
Happy Easter @charles1. It is truly difficult not to be emotional over the drastic turn steem has made. It would be easy to just throw in the towel and say why the hec am I doing this? However, it is my belief alsothings will turn around. I just hope when that happens there will be a big rainbow seen by those of us that stuck it out. 🐓🐓
You are absolutely correct...the same here and I wish you more success
Ok @charles1, don’t know about you, butI am ready to see some upward movement here in the value of our wallets. Be well. 🐓🐓
Yeah everyone is worry about the current situation in crypto market. But no one knows what will be the future of this platform. Seems it will raise once again and will make people hopeful and happy. Very good tips to combat this situation.
I agree with you...patience is indeed the key. I wish you success.
Wish you success too.
The current correction is the longest I have experienced since I started trading and admittedly I am a bit terrified. But, I still looked at cryptos in a positive light therefore I'm still hodling and will kept on doing so as I believed its value will rise again. Though for now I will try to diversify just like what you recommend and see how things will turn out. Thanks for the nice article.
You are welcome and more success to you
This market is especially very unreasonable and not everything should have a reason.
But I believe that prices will recover in the long run although it is not true that any price reduction should have a reason.
I resteem post you
Good point, thanks for your comment.
You are welcome
Patience and endure patience fatigue
Lots of ingredients until we become successful
Fantastic article
Good point ....we all will surely smile at last. More success to you.