Where do you think the bottom is?
$0.50? 0.05? I think 0.20 might be a realistic re-entry starting point and then maybe some more on the way down. Think we'll hold above historic lows just because there's slightly more total money in crypto now. Really bad sign that there's 0 vol on upbit imo.
Worse comes to worse, .16 or .18 is my pessimistic guess. I knew the bear would go much deeper with all the positive bullish talk around. When 90% start cursing crypto, we will be ready to bottom.
Those are reasonable levels imo, basically previous lows times a value multiple of approximately how much cash might remain in the space during the lows.
I've had 0.25 as my target for a while, though I've been losing money in equities so I might need to lower it if they don't start behaving.
My question is when I should start converting SBD, which I'm still holding a bunch of. Or maybe hope it falls a little more and the witnesses start paying interest again.
https://www.reddit.com/r/wallstreetbets/comments/97anup/trigger_warning_bearish_dd/
I agree with the general hypothesis presented here.
As for the SBD thing, I wish there was a real and safe alternative store of value besides the obvious ones that exist and could decouple at any given second, because of
https://steemit.com/steem/@buggedout/the-steem-dollar-purge-begins-this-is-what-we-need-to-do
I just bought SBD near 1 but used it to push posts/get some SBI for people way above where the prices are now not so much to trade but just to hopefully inspire at least a little confidence in people who use the platform, I'd honestly save SBD as its lower volume and scarcity given the steem-only printing going on now just puts tons of downwards pressure on steem and there's always the potential for upswings if upbit traders ever wake up, and we might see .25 or below within the year on steem so 4-1 conversion wouldn't feel too bad if the haircut isn't in effect by then, but it might so all bets would be off on what we'd really be able to get for them.
@nealmcspadden and I have been #monsterbanking - using Steem Monster cards as an asset that's inherently tied to USD. So far it has worked reasonably well.
One of the advantages of no SBD printing is that we can predict pretty well where the haircut will happen, and it's somewhere in the neighborhood of Steem=$0.58. I need to look into what happens to pending conversion transactions when the haircut hits, though.
I haven't even bothered looking into what the haircut will be, I just know it'll all end up in a dumpster fire until the general markets go bullish again.
USD 0.20
Haha. I like the energy you bring to the place. Glad you're around.
Thanks.
Can't predict, I'm just crying for last few hours.
Market dump below 200Billion. And every Alt is surviving against Bitcoin.. Bitcoin dominance over 52%.. rest of 2000+ Alt Coins only 48% in the CoinMarketCap.
Posted using Partiko Android
Yeah it's been brutal and everyone's probably feeling pretty wrekt right now, surprisingly even at these levels we're still almost 20x over the lows steem has seen.
xD