Steem TA: No action at all for the next few months as traders test support line?

in steem •  4 months ago

Current sentiment

Steem seems to get cozy with the support line... Traders (who generally do not believe in the project, but just trade) sell it every time it goes up a bit from this line and makes it crash into it... again and again...
In order to end this we need SMTs, so that the volume can go up from million USD/day to a BILLION USD/day. In this case this shitty sharade around minimums will come to an end.

@ned started powering down about a month ago. So I expect those SMTs to be ready around the time everything which @ned wants to power down has been powered down. For this quarter it is rumoured that the TestNet might start and for the next quarter the real SMTs.

Obviously no one knows when exactly the project will be ready, not even the developers themselves... I hope that hivemind and scaling are from the table and ready in production soon, so that everybody can concentrate on getting the TestNet running... I personally am not a fan of hivemind... for me this is a Gimmick...

The real thing are the SMTs... we need them really... If Steem would be worth 10 Billion and paying out almost a billion USD a year, I guarentee you that all the content creators would flock here... But traders like to dump the project depriving it of oxygen... last year down to 0.07 USD... NO VISION! THEY HAVE NO VISION AT ALL...

Youtubers do not promote DTube and Steem as they should

I could rant as well a bit around youtubers like HighImpactFlix who do not promote this platform... it is really stupid...
I mean Steem should already be in the top 5... and those people could be rich as hell... without investing anything.
A simple 10 seconds in the beginning or end of each video uploaded to Youtube about Steem would be enough...

PoW 51% attacks

And how can somebody seriously still bet on cryptos which can get killed anytime, like crypto51.app shows, you can make Bitcoin unusable for 600.000 USD per hour... How many banks earn docens of billions a year?? How hard would it be for them to reverse transactions randomly for 1 hour a day at a time... The more of those attacks the cheaper it would get to attack the network again the next day. I can see absolute havoc...

Disclaimer: This is only my personal opinion and no investment advice. Please go to your government sponsored investment advisor for government-sanctioned advice.

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what do you think about the bitcoin right now is it a bull trap or we are really going high

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BTC could go sky-high, and I am absolutely not against that. The problem is if the enemies of crypto attack it and expose the fact that crypto can be attacked in the case of BTC...

Absent such an attack, I think bitcoin will at least try to take the 10000 resistance. If it fails like 2 months ago it will test the support at 6000 again. Fundamentally the market is still in its infancy.

In order to take out the 10000 resistance it should go above 10500.