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RE: STEEM Price Analysis – July 19, 2017
@ats-david I did read your opinion, but I am curious as to what you would suggest. I have absolutely nothing invested in BTC or STEEM at the moment. I intended on liquidating some of my unused property and buying in but then everyone is telling me to wait until after Aug 1st. I'm not asking for advice, just a hypothetical suggestion. lol
::I'm pulling what little bit of hair I have::
I would say that it depends on your strategy. If you're buying for long-term and plan on holding, I think either one or both could be a good buy right now. Averaging in would be best.
I'm honestly not convinced that crypto tokens are even worth anything at all, being digital placeholders for self-contained transaction networks. But people are pouring money into them. For how long, who knows? There still seems to be a lot of excitement and interest and actual use cases for businesses have been emerging for blockchains, so the tech and development has some legs to it.
If I was putting a lot of money into something for the long-term, I'd look at viability of the blockchain tech regarding network transaction ease/speed and actual use cases for the chain. Steem fits the bill, but I question the leadership and development. Bitcoin is the big dog, whether we like it or not, so as long as money is flowing in, it should be one of the largest beneficiaries.
As far as timing goes - I don't know if there will be much of a difference between buying now or in a week or two, or both. In a few years, the difference between the price swings could be absolutely negligible. Then again, everything could be worth pennies. Such is digital tech and currency markets. They're high-risk, so you have to have the stomach for it.
Whenever you decide to get in, as I said above, averaging in would be the safest bet. It may not be the most profitable though.
Fair enough. I think you have a reasonable explanation about the viability of digital currency. I'll spread it out and play the waiting game. Thanks for the in depth response.
This is very good advice... If you buy a bit at different price points and plan to hold for the long term then it will probably work out very well over the course of 6 months or longer but patience and determination is going to be a strength!