STEEM PLUNGES FORWARD BEFORE IT CAN BOUNCE? - Are we out of the shit yet?
At the time of writing this STEEM/USD is $1.15836084 which is a slight lift from yesterday which was STEEM/USD is 1.02935164. Are we out of the woods yet? Can we breath a sigh of relief? Well let's explore this question.
The positives of yesterday though were many people that invested money into steem that should be smiling a beautiful smile right you :) GOOD ON YA MATE...
Between today so far and yesterday Bitcoin has lost $300 in value from from 2500 usd to as low as 2182. And the day ended with a 0.8% loss. Now remember that STEEM/USD is a synthetic pair and it is not active in any markets. So any analysis can only be done according to STEEM/BTC. So a so a nasty fall in BTC price will be a violent fall in STEEM/USD.
However the fear that is generated from loss on paper will trigger a sharp decline with some markets crashing as much as 30%. Even 20 years ago, financial literacy teaching guru Robert Kiyosaki explained that there are 3 trends in the market...
GREED
People flock to buy as they see a bull trend. This is a slow incline as BULL trends take money, just as a roller coaster going up requires energy exerted against gravity.
INDECISION
Where people are UMing and ARing, some buy, some sell, most contemplate and it causes the plateaus.
FEAR
Which triggers people selling off and causes markets to plummet like going down on a roller coaster.
At present market makers in Bitcoin are attempting to balance their portfolios with cash and the joys of profit are put aside for now. There are yet tough times to sustain.
Steem price will hover between ~45,000 sats and 51,000 sats. And we can expect that for a few days. ("Sat" is 0.00000001 Bitcoin. It is the smallest unit of Bitcoin.)
If STEEM falls below 40,000, sats this may trigger a massive sell off and have us plunge to 25,000 sats and enter into a true bear trend. And once people do what they need to do and take the actions they will take. And there ceases to be a collective resisting is when we will see a bullish trend again if this was to happen. In the meantime a sideways trend that means downwards is to be expected.
It seems that cryptocurrencies offer less safety than going back to cash right now. But you have to be in it to win it. There is no real danger if one does not sell. And for this crypto, the STEEM there is a good things happening in that the membership numbers are exploding, and that will invite some real funds invested into STEEM raising the value.
So it is not all doom and gloom for us...
I hope you got something out of this and set aside emotions and look at information available. Fear is necessary and it will just put us all under.
Upvote, follow, and most importantly resteem if you enjoyed this article.
Thank you for your time, and hope to see you in the comments section.
Warm Regards
Yoda
I hope we are done w the declines, but you never know until August 1st when a bitcoin resolution is complete.
We are all sitting and waiting
May I ask for a resteem? So quiet today
Its going to rebound and maybe go higher than the price before the drop. I'm holding and would never sell at these prices. Waiting it out until it goes back up, which it will.
PLEASE EXCUSE MY LOW RATING, @donkypong IS BALLISTICALLY CENSORING AND FLAGGING ME
And it will :)
and who is this asshole flagging you and for what? lol
Well there are a few of them.
Right now its @donkeypong and @mrwang are currently flagging me. They didn't like an opinion I had about a certain member and went ballistic on me. Now they are trying to censor me and hide all my blogs.
Great post Yoda, super informative. Keep em coming!
Here my most recent post below, I also gave you a follow and an upvote...
May the Force Be With You...
https://steemit.com/photography/@harryhoudinei/picture-of-flowerz-outside-my-house-new-jersey-july-11-2017
Thank you. I'll check it out. May I ask you to resteem this for me? It will not last long out there :)
I thought it would hit .80 then bounce! Glad to see it on the rise.
DIfferent opinions from different places. But today's reading had a few predictions jump at me...
May I ask for a resteem?
This post has received a 1.44 % upvote from @booster thanks to: @yoda1917.
well said @yoda 1917. we are on an uncharted territory and it is within you and only you who knows what to follow. your guts or your fears. upvoted and resteemed.
Nicely put :) and thanks for the resteem :)
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STOPSo what you are saying is get ready to buy buy buy?
That depends on each person's situation. :) But many in position to do so are preparing for that
Well its not going to be a sudden spike back up so its going to be a good time to buy till Sep.
Climbs are slow and steady. Drops can wipe it all out in a few minutes. That is the nature of trading any market ;)
May I ask for a resteem? It has slowed right down. That would really help :)
Yeah I got you
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