Cryptocurrency Has Bottomed!
Overall market cap is near $190 billion as I write this post. As difficult it is to watch crypto prices continue to fall, especially seeing Steem near $0.80, my personal belief is we have some more drop to go. As I have wrote in past posts and reiterate that Tether (USDT) has to fail or be evaluated way above most cryptos in order for us to see a real bottom to crypto. Currently USDT is ranked 8th in market cap and continue to rise. I still hold this belief but without more capital to spend I am unable to take advantage of the current altcoins discounts.
The prices of some of the altcoins are lower than when I initially started investing in crypto. LTC near $50, NEO at $15, and XEM at $0.09 are insane prices. I wished I still have ammo to invest into some of these altcoins but as of now I have everything in steem. At this rate of fall I am likely going to reach zero net worth in crypto versus millionaire net worth crypto sooner. Just insane how the fall has continued so rapidly.
Bitcoin is fighting that $6,000 value so at the very last a positive that bitcoin may slow its decent compared to other cryptos. I am still shocked as to steem being closer to $0.80 which is the lowest I have seen since I started investing in steem. At this point I personally would still invest more into steem if I could mainly because I have been utilizing the crypto since I blog on steemit almost daily.
For people who are trying to look for some comfort it maybe good to evaluate your portfolio to determine what coins are worth holding if the coin continues to fall. To me steem is the one crypto I need to hold because I can use it and earn more. Although with price dropping so quickly the earnings I get from steemit is only getting smaller by the day. I am thinking longer term and hope that soon crypto will stabilize and rise soon. Until then I am mostly watching from the sidelines.
Thanks for reading.
Date of post: 8/14/2018
nice post. resteemed.. Smartcash also took a beating
Guess we just need to keep posting and earning alternate coins or mining to get in on these low prices.
a useful information, I like your post.
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