Is Steem (Bitcoin, Ethereum , EOS ) upward trend sustainable?
Steem and SBD are both doing great (including other top cryptocurrencies) according to coin market cap -this is awesome because normally we see a decline in price during the Chinese new year (Lunar New year) plus haters and fuders throwing in bad news in order to induce fear in the crypto space. Does it mean that steem and other cryptocurrencies are now a stable solid investment and thus we can sleep good at night without fear of seeing bloody red market? Here are some few points:
Steem fundamentals is solid: steem ecosystem, for example, is a solid place to be in the crypto space and will surely give investors a positive ROI due to its solid blockchain technology that supports many innovative products (Dtube, Dmani, Dlive, Dsound, Busy etc) especially steemit (best social media platform in terms of reward sharing with members) and the upcoming SMT (see my older posts for details). On the other hand, I will remiss if I blindly say that we will not see declines in price because it is the nature of all markets (ups and downs) and that is what makes it interesting ie opportunity to buy cheap from fuders and make supernormal profits.
Expect volatility: high Beta / risk relates to high volatility in price and this is what makes smart people to make supernormal profits in the crypto space ( wall street too) and what makes fuders to lose all by buying high and dumping at low price . Therefore do not rush and buy when price is too high however wait for haters to do their thing and then target your top coins/tokens when it is cheaper (undervalued tokens like www.elyte.io) after which you hold.
What do you think? Send in your comments , resteem and upvote in order to send in your support.
See my former post: Steemit and Bitcoin haters exposed! A happy and Lol weekend to you all
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It will be stable in the future ;)
Steem ecosystem is indeed solid. My parents plan and I is to get as many steem power as possible and then start diversification ie focusing on undervalued tokens/ coins as you advised. Thanks a lot for your great posts.
Thanks for your comment...keep up the good work and more success to you all.
Nice post @charles1. Followed and Upvoted. I like to see some fundamental analysis as well here and not just the TAs that seems to sometimes simply say it may go up or down.
I recently blogged about a fundamental metric here that correlates a lot with BTC prices most than most TA methods particularly this past month:
https://steemit.com/cryptocurrencies/@kenraphael/this-single-metric-seems-to-correlate-more-with-cryptoasset-values-the-past-two-weeks-than-most-predictive-methods
Would appreciate your thoughts and a follow/upvote back if you like.
More sustainable than the dollar..
Before I joined Steemit I thought crypto was all speculation. This is the first real use case for crypto that I've been a part of, and I have to say it has really changed my outlook on the whole space. I used to see ideas like BAT and think that it really wasnt possible to get people to adapt it, now I think its just a matter of time before advertisers are paying us directly to view their ads. I never thought it was possible for an average person like me to make any kind of income from Social Media, but now I see a path where all social media will eventually be earning people income. I think its just a matter of time before the platform explodes and we see millions of active daily users. I just hope that I can get a head start. Having never written content before I joined here, I need it!
Point.... @emmyem84 you are always sending in great comments...thanks, keep it up and have a blessed weekend.
I have been with steemit since the early days and have seen steemit grow from strength to strength . Cant wait to see what the future holds especially after the SMTs are releasaed. Truely an exciting platform to be part off.
Good point, we al will see big success here.Thanks for your comment
there's nothing we can do for now for us a beginner here? hard to get SBD to be a steem power, I feel the law of the jungle is very felt for us beginners in steemit. But thanks for posting mr @charles1.
Lol ..your comment made me laug a lot and I agree. When I joined steem was below 1 USD and SBD was pegged to 1USD now both are hard to get but still very cheap. So work smart and get steem power before its too late
it turns out you agree and have experienced it too, I will always follow your advice, work smart and get steem power before it's too late. I still will work to make a post even though there is no upvote and reward, keep the spirit and not easily despair. someday there must be a benevolent curator.
Have checked out elyte.io too looks like i have a lot to lean, I have been getting used to the price fluctuations, and now i always use it to my advantage not like those days when i used to freak out.
When some people talk shit about a crypto and it seems to really be going down to it's dippest, I always get ready for some ride.
And you right Steem has alot to offer, have began to consider powering up most of the time.
Thanks for the post though.
Good move indeed, more success
Hopefully the upward trend is sustainable because the lunar new year is over. Hence investors should expect good ROI if they bought when the price was low.
Good point indeed
Point, thanks for your comment
I agree that their both doing great right now and im sleeping much better !! So is Bitcoin , rising every time I check it out with some slight downs but mostly up sitting at 10,828.00 Wow what a jump in two days ! Steem is definitely a solid place to be . keep up the great work @charles1 , upped and resteemed but my voting power is getting low so I need to take easy for a few days !Steem on! 😀👍✌💕👌
Thanky 😀👍✌💕👌
Semm like steem and other cryptocurrencies are now stable solid investment..... have a wonderful day @charles1 :-)
welcome my dear one ..I wish you a blessed week