How To Increase Steem During Extreme Dips
Ever since we saw BTC bull run by the end of 2017, more and more people have joined the crypto market. Then we have seen some extreme dips that might have caused so many of the crypto users lose their money because it was tricky― you expected one thing and it happened exactly its opposite. Soon after an extreme dip, you might have watched several BTC 'experts' claiming to have predicted the dip in advance and others with some other justifications. I'm also among those who lost a lot of money. For me, truth is, there is not a single person who could predict the market behavior at all. The market is still bearish and people are losing money. If your main trading coin is Steem, you can increase its amount even during this bear market.
Last time, Steem hit its all time high during these bear times, it was $4.66. Currently it's experiencing a to and fro motion between $2.29 to $2.32. 12 hours ago, its price was $2.54. If you're hodling, it might be a long wait but you won't lose any money. However, if you can't afford to wait for months and you want to increase your Steem so that you could withdraw a portion of it by the end of the month without affecting your basic investment, you can do it. Let me simplify the Maths here for you. Let's say, you had 500 Steem. At $4.66 you converted all of it into USDT because it was its all time high price so we could expect a dip at that point.
500 Steem x$4.66 = 2330 USDT
Now at this point, the best option for you was to wait until you notice the next BIG dip. Though there're small dips that almost all coins experience before any big dip happens, but sticking to the plan is the key here. Soon, the Steem price was as low as $3.00. The price was very low and let's assume at this point, you converted your USDTs into Steem.
2330/3= 776 STEEM
So, in just 2-3 weeks times, you could have made 226 Steem with a basic investment of 500 Steem. You could repeat this strategy as there were at least 4-5 BIG dips during last 1.5 months. This could have easily helped you increased your Steem.
An alternate and bit careful strategy could be putting 50% of your (500) Steem in the game and rest in USDT after selling at the highest price of $4.66 or even $4.60.
If a user like you and me with a small amount of just 500 Steem can make 226 Steem through just one dip, just imagine how much would a whale be making that has 50,000 Steem. Let me do the Maths for you:
50,000 Steem x$4.66 = 233,000 USDT
And now this whale buys the dip when Steem price was as low as $3.00. Here is the Maths:
233,000/3= 77,667 Steem
That's an increase of 27,667 Steem in 2-3 weeks by buying just one big dip. Just imagine if someone with the same amount buys the extreme dip when Steem is $2.30. How much that person makes? Here is the Maths:
233,000/2.30 = 101,304 Steem
That is an increase of 51,304 Steem and all this in just one month's time. Obviously, this was bit tricky but if you're in this game professionally, then you need to spend time and keep an eye on the market and it's changing trends. This analysis not only provides you a strategy to increase your Steem during bear market but also explains why we have seen so many dips that manipulated Bitcoin and also rest of the market.
Disclaimer: I'm not an expert in crypto market and what I shared above is something that I'm following during this bear market. It's not financial advice so if you follow this strategy and lose some money, I'm not at all responsible for your losses. Crypto market is very much tricky and you might lose all of your money. So, only spend what you can afford to lose.