You are a loser. If you start panicking and sell at the worst possible moment in time, you are 100% guaranteed to loose out on a lot of future profits.

I know how painful this drop in post payouts is for most of you, especially if you invested a little into STEEM.

I encourage you to stay calm and HODL because that is what I am doing for sure. I am not even thinking about selling right now.

I know that it can and likely will get much worse before it gets better again. Worse because the witnesses are planning to soft peg SBD to 1$, once it reaches this level again.

They will pat themselves on the shoulder for bringing the price of SBD down to 1$ again and that their increasing the payout rate for SBD (and thus inflation) caused this. BUT THEY DID NOT CAUSE THIS. IT'S BULLSHIT. It's a normal crypto wave 2 correction. And here is the proof for that:

If you cause gigantic price inflation like they did with SBD (the amount of SBD in circulation more than doubled in only 3 months) you would expect the market to react in selloff movements on heavy volume because everyone wants to throw their SBD on the market. But that did not happen. We saw very slow selling on basically no volume at all.

That means people value SBD way more than its current price level is... There is just not enough buyers yet for the price to start a new uptrend.

The alltime-low in SBD was 70cents. As long as there is no new alltime-low, SBD is still in the same cycle wave 1 and 2 scenario that BTC is in right now. We just need to find the price level where big investors want to buy.

The last buying spree in SBD started under 1$. The last buying spree in STEEM started under 1$. And it is likely going to happen again.

I already have some funds ready and waiting to buy more STEEM and SBD once it is 1$ or lower... It might not reach that level if we see buying action before that level, but it would still be a cheap point of entry.

The majority of my STEEM I bought in the range from 90cents to 1.3 $.

If you think this to be useful information:


Feel free to use and share my charts, but please mention me, @ew-and-patterns as the author. Otherwise it is considered plagiarism and I will flag you and advise my friends to do the same.

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DISCLAIMER: This post / analysis serves general information purposes only. I am not, and never will be a financial adviser. The material in this post does not constitute any trading advice whatsoever. This is just the way I see the charts and what my trading ideas (from my personal experiences) are. I use chart pattern and Elliott Wave analysis for my trading ideas.
For full disclosure: The author of this post is holding positions in this market at the time of this post. Please conduct your own due diligence, if you plan to copy anyones investment decisions!
If you make any trades or investments after reading this post, it is completely in your own responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept to never hold me accountable for any of your losses.

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