Somebody is in Big Trouble
Aside from the shit posters who clutter Steemit with their embarrassing bot quotes and/or outright stupidity that make them look like idiots, who else is in trouble?
STEEM started the same time period at ~$1 and BitShares at ~5¢. I’ll let you check today’s price, do the math and report back with your idiot bot, or clueless brain, on just what that means, and with your conclusion about just who’s in trouble.
Edit: Just to be sure there's no confusion, I'm talking long term here, and in no way am I suggesting either directly or indirectly that selling might be recommended at this stage - one must wait for a bounce before selling the dogs, I would think anyway, but the opportunity cost of waiting on the dogs to bounce could be significant. In any event, everyone must make their own decisions, hopefully with previous deliberation and preparation, following solid money management and risk management balanced portfolio best practices buying low and selling high, but sometimes we all find ourselves a little off guard and we need to decide when to cut losses too. Personally, I'd be waiting for a bounce to sell into, but I wouldn't be expecting too much short term out of those who are in trouble long term, and I might even be preparing myself to stomach even lower lows first.
STEEM and Bitshares also got upgraded in the most recent Weiss ratings, which people seem to be overlook. BTS moved into the green to B+ from C- and STEEM moved to B+! Both are now in the top 6 of cryptocurrencies.
But naturally DASH is the way to go with its C+ rating...
STEEM, with a B+, is the #1 ranked cryptocurrency in the world.
Let's let that sink in!
And BTS, with a B-, is tied for #3!
In the world!
Wow.
.
I think STEEM is going to 100,000 SAT sometime soon.
All the signs are there! Everyone will have only themselves to blame if they miss this train...time to buy more on the dip!
hahaha stupid bots! I'm glad to see steem so strong and resilient among a sea of weakness!
@cryptographic,
Rule #1: Never trust a bot
Rule #2: Never trust people who post damn signals for upvotes
Rule #3: Trust STEEM, it's stronger than almost most of other cryptos
Rule #4: If you got a free time, never miss @cryptographic's posts.
Rule #5: Always attached with Rule #1, #2, #3, #4
Cheers~
Haha, of course most of the cryptos are much higher than few months ago, I guess that three months ago the entire market cap of crupto was less than 200 billions. Now it is over 400 so it is clear that some coins more than doubled their value while Steem is doing even much better!
Thanks @mejustandrew. You get the first real-person-with-a-working-brain to post award!
Yeah, STEEM and BTS are still many multiples above where they were at the beginning of November, happily!!!
Thank you! I thought about it and we should be happy that there are a lot of people who panic sell and do not understand exactly how this economy is going because these are the people from which you are able o by when the market is down, and which we are able to sell to when the market is high.
At least this is how I like to think about it :)
It all started in november when tether, bitconnect and ripple started to pump, now we are back to prices of 3 months ago, luckily steem and bishares have gained allot of new users, adding allot of value to the platform :)
I think the market is going to smarten up after this correction and start investing in real use case coins that have proved themselves, like steem bitshares and eos. There is way too many coins with huge market caps with no use case or are years away from being anything other than hopes and dreams. I like to call it stupid money, I won't follow that crowd lol
Did you notice one beautiful thing in this red market ??
Even after the front line coins in crypto market went red significantly, STEEM did not suffer much and if you look at the chart then it is holding well above the 200 EMA in daily and the 30K satoshi is still holding.
Then what does that mean.
We can certainly say that steem is pretty firm and if in a red market it can sustain its price reasonably then just imagine what would be its effect in a bull market.
And recent Weiss rating upgrade of steem really says much more than just rating. I am still saying that steem is at good level to buy now, just go for it.
Thank you @cryptographic and Have a great day.
Walk me through the significance of these patterns. Essentially a full retrace => bearish (market perceives them as having no additional/lasting value)? I honestly wanted to see a -hair- lower on BTS, because greedy.
I place some value in LTC simply as a beginner’s alt (Coinbase newbies), but that’s playing more of a psych game.
How do you define a third-gen crypto and what do you look for (since classic BTC doesn’t do it for ya)?
I continue to believe that now is the best time to replenish your stock of crypto currency. This is not the first rate jumps for my memory, I'm in Steem for a long time and I'm more pleased that it was added to Binanse and it will be accepted by Austrian airports. Oh, yes I almost forgot about the symbolic rating of the crypto currency, which we are in the top 5.
@cryptographic laying down the law! Respect.
The bounces in steem and bts have been like clockwork. We are at a critical juncture in both charts, where price need to hold and bounce, otherwise the uptrend could be broken. I went to sleep last night thinking, "here we go again... Trading below the trendline again", only to wake up to a nice bounce back above it.
Not going to lie, it's still a bit stressful waiting to see whether prices will break up or down. While I'm long term and am ready to stomach even more downside, the testing of support levels are nerve racking although the outperformance of steem and bts compared to the others have boosted my confidence. As for the other alts I'm holding, I'll need to come up with an exit strategy for my swing trades that have become longer term investments due to not even considering this scenario as I got caught up in the fomo.