Bitcoin benchmark

A look at todays market we see a major correction right back the opposite direction, yesterdays sea of red is forgotten as almost everything is in the green once more.

I know Bitcoin is the benchmark but if we track cryptos across the market we see everything following the trend of Bitcoin, if Bitcoin slumps everything goes down the toilet with it, tether being the only crypto right now that is going against the trend.

Steem in limbo

Yesterdays Steem drop where we saw Steem drop under the dollar for the first time in months is now replaced with a healthy rise of nearly 14% to $1.28 at the time of this posting. In a way I was hoping for a more signifigant drop as were many of us the reason being if Steem dropped under the 0.50 cent mark a lot of people would have made a big purchase to buy Steem power cheap. But it wasn't to be, I could still see that day coming though. I would like to see one of two things happen with Steem either a dramatic increase in value and a break through that level of resistence that seems to be set at $2 or a dramatic drop in price under 50 cent. Right now Steem sits in limbo land not really low enough to buy and not high enough increase the value of our Steem accounts.

For whales who have carved an income from Steem the current prices are hindering their ability to earn and for the rest of us it's still just a little too high to make a purchase.

The same trend is accross the market everything is just average no interest to buy no reason to sell. So for now it's hodl time, just sit on your investments until the market swings one way or another, let's hope the current correction brings us some value.

HODL town

I know one thing with this crypto market buying one coin in order for it to increase in value in order to purchase another coin to make a profit is becoming increasingly difficult due to the Bitcoin benchmark dragging the entire market in one direction or the other.

At least for a while its HODL town.