Dip time
Hello,
we have another market dip. Well, this happens and it will happen more often than we expect.
Why? Because the market is not mature enough and there are not a lot of people invested.
We have now some tough economic times all over the world, with mad politicians that think of themselves as saviors or almighty humans. The markets are bearish everywhere and in the crypto world it is felt ten times stronger.
In the crypto world we have two types of investors, the first are the bullish whales that know what they are doing from an economical point of view and we have the nerd investor who has heard about crypto, reads every day about the technology and what is a complete illiterate in terms of economics. The first make money on the second, as the first don't care about the intrinsic value of the technology and what can it change, they care about a certain profit margin. The second lose money as they don't understand markets. This guys lose faith in markets and sell to a big loss because of disappointment.
We had also some smaller type, the hype guys that get in at top of the wave and exit very fast due to the volatility.
As you can see from the top 10, they all go down except Tether. Let's see what Steem is doing:
As expected is doing worse than the top 10. Just remember that it was a long time in the top 10 from market cap point of view. With the #newsteem thing I don't believe it has the chances to come into top 50. If users are hunted down constantly there will be no people to buy the coin.
To sell all Steem now? Well, hard to say as personally I will wait to grow to 1$ at least. I did not sell any Steem the past year, only paid some server cost with it and bought some stuff in steemmonsters and nextcolony.
What do you do?
What I did? I purchased about 450 Steem for 50 EUR and powered it up! What else should you do? Power down? Of course not!
Dip Time = Purchase Time!
wow if that pace continues we can see steem on extreme low levels
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