RE: Why are Digital Currency Prices Dropping? Time to Buy Steem!
This cryptocurrency sale is amazing because prices for Steem are not likely to ever be this low again!...I think Steem is going to hit $10 within a few months!
What is it - specifically - about Steem/Steemit that makes you think this? Why do you think prices won't go lower and why do you think the STEEM price will go to $10 soon? On what are you basing that?
The price has not been this low since May 2017 and I think after the next big price jump will never be anywhere close to this again maybe for 10 or 20 years.
Ten to twenty years? You can make a price prediction for the next decade or two based on the last two months of prices? Can you elaborate on why you think prices will not be this low for the next 10 to 20 years?
I think enthusiasm is great but having a more measured outlook would probably be good, especially when you have a lot of followers (many of them blind or otherwise ignorant about crypto markets in general) who might be using your actions/advice for investing/trading purposes.
These are the ten reasons I believe Steem will go up to $10 within 1 to 9 months and not come down as long as it is active https://steemit.com/steemit/@jerrybanfield/10-reasons-for-usd10-steem-price-in-10-months.
In the two months since I wrote this, my friends have poured in tens of thousands of dollars to Steem including many that are making their first crypto investments like @joeparys who just put $2,500 in and others experienced crypto veterans like @robertgenito that have been involved before 99% of us had ever heard of Bitcoin. Like Bitcoin, once certain levels are reached they are not returned to again even in the lowest of times. Bitcoin is unlikely to be worth $10 again within the next 10 or 20 years and I think Steem is on a similar path.
I am not exactly sure what Jerry Banfield is typing in this post. Why would Steem go up to 10 dollars per in a few months? No other Crypto has that much support to 10x right now, why does Steem? Steem seems to be tied directly go BTC prices for the most part. BTC goes up Steem goes up, BTC goes down Steem goes down, every time.
BTC isn't going up much when the update happens in a few weeks, in fact is SEGWIT is activated it should crash down to be worth $0 and rightly so. SEGWIT is unsafe, Litecoin didn't even implement SEGWIT on their official blockchain because of that.
Why is that you ask? Because when a transaction is almost instant to confirm and be done, it also takes less than a minute or two to reverse and overwrite the entirety of transactions done on SEGWIT. It will be 51% attacked successfully at some point and owned hard. BTC only can lose 2 or 3 or 4 blocks at a time due to a 51% attack being successful, due to so many miners competing for the average solve time of 10 minutes, SEGWIT goes around that by confirming everything almost instantly on a side chain. Anything done on the sidechain should be considered completely reversible and not to be trusted, EVER. It is centralized and can easily be hit one time and havoc will be wreaked.
If SEGWIT gets implemented into the main blockchain for Bitcoin I urge you to sell everything you have of BTC and never do anything with it again. If it only is implemented as a secondary side chain, just don't use SEGWIT for anything, instead use the Bitcoin Blockchain.
I think it comes down to a gut feeling of what the price should be. Complete speculation, but I think Steem could reach $10 soon too. There isn't really anything backing this up other than seeing how prices can be super-volatile with cryptocurrencies. Steem is also something we all want to succeed and many people see Steemit as something that will hopefully become several times larger than it is today.
If steem reaches $10 it will be directly connected to a surge in value of btc. Otherwise no.
Sorecery...