Catching a falling knife is hard.
Things have certainly been troubling this year for the cryptocurrency market.
Most of us have lost a bundle.
Some of that money will likely never come back. Some of those altcoins we were betting our futures on will likely never recover their value.
However, there are least a handful of coins which I'm quite certain have a strong future.
Source: Pixabay.com
Bitcoin
EOS
Steem
Cardano
To name a few.
I do think Cardano is going to take a while before it starts to rise back up, but the other three are my current main picks.
The whole world knows Bitcoin.
EOS has some good things coming up.
Steem has a large community, with a ton of new features, Dapps, and games on the horizon.
As Bitcoin slowly falls, looking for its bottom, the alt coins fall at a faster rate.
In this manner, Bitcoin has lost something like three times it's "all time high" value while most of the other altcoins have lost more than ten times. Some losing way more than that.
So when do we buy back in?
Well I can't answer that question when it comes to Bitcoin, or EOS. I think this is a pretty good time to buy either one.
I have watched the price of Steem go up and down for two years though, and I feel like I know it fairly well.
The last time Steem went down to $0.70, it rebounded quite quickly up to $2.40. I do believe the bottom is going to be around $0.70. We have a strong community, and a million reasons why we should rebound soon.
I'm definitely not saying you should pull out your Steem and wait for it to hit $0.70. As I stated in the title, it's pretty hard to catch a falling knife.
Still, I think the rebound is going to be soon. Steem currently is at $0.77. I doubt that we will fall farther than $0.70 but then again, you never know what's really going to happen.
This is not Financial advice.
Do what makes you happy.
I'm pretty new here, so it's nice to hear from someone who's seen the rise and fall and rise and fall and...
And to hear about things that have happened in the past, like the .70 on Steem and then a rebound.
Well, you never know what's going to happen.
It's all goobledeegook to me..... but I liked it. LOL !!
Basically last year the markets continuously went up.....so no matter what coin you invested in you were going to make money. This year, exactly the opposite happened. No matter where you put your money..... you lost a crapload of money.
We are all just sitting back waiting for it to go up. We've been waiting for it to go up for 8 months or more but it goes down more everyday. Here's hoping.
I'm glad you liked it!
I'm new while it's low and so have nothing invested yet but a little fun play time. If anything happens good, it will be happy frosting. I had heard from friends that lots of money just vanished. Always hard to know when to gamble and when to not.
That's the problem though. I think we've all got this false sense of "I need to hold until the walls come crumbling down" because of BTC. However, what we really should have done was learn how to play a bear Market. That would have helped us tremendously this year..
Well am starting in the crypto space for the long haul, so whatever wants to happen can happen.
Good luck.
Thank you.
Dollar cost averaging is probably the best strategy to take when it comes to Crypto. If you truely believe in a coin/ the technology then each week, fortnight or month invest a workable amount of money from your income. It spreads the risk of the ups and downs of the market. I have made a pledge to myself to dollar cost average $100 a fortnight until 2020. Plan and execute.
Although this is true, it hasn't worked out very well this year. I did some dollar cost averaging with Cardano for several months and now I see myself staring at a coin that is six cents when it was $1.40 a few months ago.
Brutal.
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Great.
Yeaps.
Nice title. I'm hanging on to the idea that, unless I sell, l haven't actually lost.