Wow, I was going to power down but...
That was a slow 7 days! I was 1 day close to sending some STEEM over to the exchange.. but funny enough what happened?
EXCHANGE INTO WHAT?
Everything is down including STEEM. So what to do? Well exactly what I would tell anyone.. HODL
Why sell low, especially since everything is down along with it. Kinda beats the purpose of moving anything around. Perhaps I could move into more solid coins..
Naw, I think I just keep the STEEM liquid here. This bear market could last a while. I’m sure there will come some more pain, and then back up again. To be honest many of us knew a correction had to happen. Nothing rises so high without dropping... NOTHING.
BB613 - the bear market analyzer :$
I bought some steem and sbd today , I think it is safer than many coins at moment and with the price being lowest in a while , Good buy I think .. Other coins , hard to say ..
Bitcoin is dying and its dragging the entire market down with it. The markets are literally joined at the hip with BTC, and when BTC falls because people have realized how slow and unreliable it is, the larger market ( the new money, people who have been in the game for less than 5 months) panics as they believe that bitcoin IS the market, and if bitcoin fails, then everything else does. This is part of the issue when people like Warren Buffett go on record saying that "Bitcoin is a bubble and will burst" That part is true, for the most part, not many people are willing to pay $36 for a transaction, especially one that takes an hour or more to confirm, and even more so when the developers make little attempt to fix the BTC network -
But when everyday people hear things like this is causes a massive amount of irrational fear...coupled with news from South Korea which was false, as well as news from traditional outlets that claim the market and Bitcoin are constantly dying. We risk going into a free fall in prices within the next few weeks if people don't stop spreading false information. The market dropped by 30% just on false news and an assumption that Korea MIGHT POSSIBLY COULD BE MAYBE be banned from the markets. What would happen if over a 3 day period Fox News and CNN falsely reported that "Bitcoin" was going to be banned in the US, without any proper sources to back it up? The market would implode all based on a rumour. This is why its VERY important to not follow false channels, or people looking to hype coins, its causing the market to expand in a direction that it shouldnt be going, which is the hype, pump, dump and the market is burning scenarios. This has a lasting effect on the human mind, and we'll pay for it eventually.
nice response and opinion! I’m sure there will be some winners somewhere. It is blockchain tech we are buying. Bitcoin is the grandpa and got everything started. Dot com bubble :) but there were some amazing winners
I think sbd will be able to take bitcoin's place someday.
gracias por su aporte amigo, y por su consejo ahora hay que esperar un tiempo para esperar que vuelva ha subir:) saludos desde Venezuela.!
Sneaky Ninja Attack! You have been defended with a 3.78% vote... I was summoned by @bearbear613! I have done their bidding and now I will vanish...Whoosh