A Glimmer Of Hope Or Just A Bounce On The Ride Downward?! Is It Time To Say Farewell To This Fun Dip We've Been Having?
A near 10% correction in major cryptocurrencies like Ethereum and Steem has occurred in the last day; the questions I ask myself:
- Are long term traders buying the dip?
- Is this the beginning of a positive correction?
- Is this just day traders doing a quick pump for a bit of profit?
- Is it a mix of those things?
I personally think that a correction is coming, whether today or whether 6 months from now, a positive correction. As for if this is the beginning of that correction, I can't say for sure, as no one can. I have a feeling that a bottom is likely to be hit for Steem soon (if we didn't just see it yesterday) because of the fact that it has so much going for it. SMTs coming SOOOOOO soon (less than 6 months!), such a vibrant developer community, and a huge user base. $0.70 per STEEM is such a discount that I imagine that many whales will be buying buying buying in the very near future if they haven't already started!
@biddle, For sure we need the correction because the whole year is just hold the Suppressing face and now let's hope that we can see some Positive signs and growth in the Crypto Sphere.
Wishing you an great day and stay blessed. 🙂
I hope No.2 is the case cuz it's about time. I was reading an article about a guy that got into cryptos just before the dip, with no real strategy He's lost serious bucks. There many like him so crypto is starting to get a bad name 😞
Yeah, it must be so demoralizing for those who got in around December, at the market highs. My recommendation for them is to just hodl, because when the correction does happen, I have a feeling it will be VERY fast, so not smart to try to time it; better to just hodl. I very much hope it is number 2 as well!
Yeah, Meanwhile Vitalik seem to have other ideas
Yeah, I was suprised, but I actually saw where he was coming from. I think he was pointing out that we need to be realistic. We could see 10X gains and 100X gains, but 1000 is pretty unlikely except with breakout small cap coins. Bitcoin at its high was nearly 20,000; 1000x gains from there would have been 20,000,000 per bitcoin, which is about:
$420,000,000,000,000
market cap, 420 trillion. That's quite a long shot I would say; I could see it maybe hitting 1,000,000, but 20,000,000 per BTC is pretty crazy an expectation. It could happen, but not likely. :)
I think some small cap coins will still see 1000x gains, but Eth/Btc, probably not any time soon! 10X, absolutely though.
Oh, I see your point and his. The article I read must have miss presented things.
I mean, he should have been explicitly clear, since he is so high profile, and I don't think he was clear that that's what he meant, but that's what I took away!
Yh, and the market is so fragile atm.
Well already people are going for the dip and stackin them at least those who believe in them and was able to get some hope fuly will get some more
Amen to that! I'll be adding to my Steem, Ethereum, Bitcoin, and my long term investment Exscudo (EON)! :)
All the very best to all of us.
Exscudo, great project 👍
Really, I don't even check the market no more... Dips be turning me into a long term investor😯
I don't think things can go lower than recently. Probably the best time to buy...but who knows anyway
I think it is a mix of both 1 and 2!
It is, in my opinion, another great chance to buy in for long term investors with the prices of most crypto's being so low at the moment. It's got to go up soon, I think!
With so much negative correction in the last year, positive corrections must follow. It's just the way these things work!
Also, with the creation of the new apps and services now running entirely on decentralised blockchain technology, these currencies are now finally being used for actual real transactions of goods and services. That has to promote all cryptocurrencies in a positive way! Don't you think?
Everyday, blockchains are being utilised more and more. Prices will rise again, you'll see!
I'm hodling hard on these and getting more, however I can.
Wishing the best to all of you!
@donkeysworld.
This is new project on crypto market. I hope this project helpful for every stemians . Thanks for sharing @biddle