What should we do in a bearish cryptocurrency market?
Hi everyone,
I am new user of Steemit and I would like to share some of my views.
The cryptocurrencies have suffered from a massive loss in value this week, right after people's passion for ICO faded away. Concerning the possible split of Bitcoin in the coming month, the prices of the currencies may plunge again and maybe in an even greater extent.
From my view, we should wait until September, after the people in market have digested the news and the prices become stable. More importantly, there have been rumours that the Metropolis, the Ethereum 3.0 may be available in September. The market might go crazy for Ethereum again that time and we should get our capital ready for the big moment.
At the same time, if you ask me what should we do now. I suggest to take a look on EOS, which is also known as the Ethereum killer. It allows businesses to apply Blockchain and smart contracts features more easily than the others and its successful ICO has shown people's faith in it. You may consider buying some of it now, when it's at a low price. Or you may wait and see if the magic really happens. For me, I have purchased some of it, and let's see what will happen.
This is my first post at Steemit, and if you find this useful or interesting, feel free to follow and upvote the post. Thank you!
What is your personal view about EOS?
I believe it will be a strong driving force for businesses to apply blockchain and smart contracts in their systems. In light of the transaction volume, there is space for an increase in EOS price and as long as it gets more exposure, a bright future of EOS can be anticipated.
Where's the bottom for Eth & Ltc?
I am not sure about that now. With the uncertainty of Bitcoin in the following weeks, the price may further go down. For ETH, it may even break through USD150. Therefore, I do not recommend to purchase right now. But for sure, the altcoins will bounce back eventually. If you are a long term player, you can purchase at a low price and wait and hold them for a long period of time. I believe ultimately you will benefit from that.
With 18 days to go before Aug 1st, there's time for a fake rally & dive to a new low.
Indeed, and for sure if you like some adventure you may have a short position in the coming few weeks.
I didn't know that shorting cryptocoins was permitted.
you can create a short position on several platforms like Poloniex. Borrow the cryptocurrency at a rate then buy it back at a later time. (would have gained a lot if you did that today)