Bitcoin may still dip below $8,000.
it doesn't matter how long you've been in the cryptocurrency game, there's a good chance that you are either a permabull or a permabear. I think the best way to be is somewhere in between.
Of course I am a Buddhist and I am usually trying to live a life of balance but it is definitely difficult because of the way beings are and because of the fact that there are certain difficult situations... All of these things affect our ability to see things with a balanced point of view.
When it comes to cryptocurrency it can be especially difficult because you've got a whole group of people that are whispering in your ear things that they want you to believe. Now it is possible at this point steem which has been doing very well is going to go from it's 14 and 1/2 cents all the way back up to a dollar. I hope it does.
I did pull a lot of mine out and I put it into Bitcoin. Bitcoin hits a high number and steem stays pretty low then I'll put it back in. Steem hits $10 then I might be in a bit of a situation. However, I do think right now what we should consider is whether or not Bitcoin is going to stay at its current price of $9200 and stay above that level or if it's going to drop down to the previously thought of levels of about $6,000.
Now just because we had unexpected rise up to above $9,000 doesn't necessarily believe that we won't go back down to $6,000. However, it is also possible that we could rise back up to ten thousand and no one really wants to miss the boat.
Maybe we will hit 10,000 and then we will never come back down. Now we don't normally have some kind of extreme rise up before the having. Usually happens after the having. I would assume we're going to stay between 6 and 10 at least until about May and then we should start rising up and hopefully by the end of next year we could be at 20 or even fifty thousand but I find it highly unlikely that we could be at 20,000 by the end of this year.
Most of the people that I know are probably thinking that we will be at 50,000 going to this year and they aren't considering the possibility that we might go back down to eight thousand or even six thousand.
I think that possibility is very real. I think everyone should consider the fact that your money is all real and that if we go down to three thousand then you've probably lost a bunch.
Therefore you must keep a balanced viewpoint.
Keep your eyes open.
Bitcoin could go up down or any way.
All the cryptos can and do go up and down, that's for sure!
If you pull back and look at the long term trends, it seems that Bitcoin is on an up trend. But it takes sudden dips. If there is talk of regulation or bans, then it tends to drop. But with a recession looming, China saying good things, improved development like lightning network and whatever kim dot com is working on, and the approaching halving, I think the up trend will continue.
I saw that Steem competitor Synereo, or hyper-something as it was known as recently, shut down. I think the space Steem is in will see further whittling down as weak platforms drop out. But with SMTs and communities on the horizon, and all the other developments of this year, Steem could rise again. If steemit could ever stop selling each month, that would help a lot.
Well that's my thoughts and opinions. I hope you have a nice weekend!
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