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RE: BITCOIN DROPS BELOW $2000.00 AND STEEM DROPS BELOW $1.00! - TECHNICAL ANALYSIS
Congratulations on getting the bearish call correct! I do have to ask though, don't you think the downside risk from these levels is MUCH less than the potential upside potential? Of course anything is possible, and there could be more downside, but I would rather error on the side of being too bullish here because cryptos in general are still VERY early on in their bull market and they could explode on a bounce very quickly back to new all time highs... i would rather risk another 10% dip and NOT miss out on the next 100% gain that is coming very soon imo.
If the price falls back to let's say 20 cents from here. That won't be another 10% dip. It would be something like another 80% dip. And a buy from there to the 100% gain from here would be equal to a 1000% gain rather than a 100% gain. This is just an example to tell you how big the difference is! But I see your point, so whatever you do... good luck! ;]