I WAS RIGHT ABOUT STEEM BUT WRONG ABOUT BITCOIN!

in steem •  2 years ago 

I WAS RIGHT ABOUT STEEM!

Last time I wrote an article about STEEM was about a month ago when I predicted that STEEM is most likely going to drop back to 0.0001 BTC. Back then STEEM was almost 0.00038 BTC. Right now STEEM is about 0.00031 BTC but the previous low was about 0.0002 BTC which is almost 50% drop from my last post, where I predicted an approximate of 75% drop! I'm not always right so I'm not trying to be cocky here. I'm just referring to my previous call, so if you haven't read my previous analysis of the price, please do by clicking HERE.

I WAS WRONG ABOUT BITCOIN!

Even though I warned in my post that the price of STEEM may not go down as much against USD due to the possibility of a Bitcoin rally, but I was personally biased against my own warning. Technically speaking, I was wrong about Bitcoin and Bitcoin's rally caught me off guard. I still have a bias against Bitcoin but I could be wrong. Bitcoin's rally can continue to almost 10K USD before entering into a bear market. But it can also enter into a bear market from here. I myself would not be comfortable buying Bitcoin at these prices.

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I THINK STEEM IS ABOUT TO DUMP AGAIN

As you can see from the chart above, I think STEEM is about to dump again. I believe the next leg down can take the price to as low as 0.0001 BTC and depending on what happens with Bitcoin, this dump can drag the price of STEEM down to somewhere between $0.20 USD to $0.80 USD. Please tread with caution! I myself have only sold my liquid STEEM and have invested in SmartCash. I have not powered down as I do not think there is enough time to power down but again I could be wrong!

MR. OPINIONATED!

Please be advised that trading cryptocurrencies comes with a high risk and any opinions, research or other information contained in my posts is provided as a general market commentary and opinion only, and does not in any shape or form constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.

WHAT SAY YOU?

If you like this post, please consider giving it an upvote and/or a resteem as that will encourage me to post and share more stuff like this. Also, please don't forget to let me know what you think below. I won't be able to reply to every single comment, but I promise that I will read them all!


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Ⓒ COPYRIGHT - ALL RIGHTS RESERVED BY @MSG768

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I doubt Steem prices will drop. I think people who missed out on bitcoin will be looking for the next best thing and Steem is unique with a lot of potential.

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We'll see who's right. Only time can tell :]

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The truth is ; steem may be the future big thing! , but not the next big thing! Lots of people will turn to the next best/big thing and lets be realistic here, there are lots of options out there besides steem for people already aware and involved in cryptocurrencies.

For now, steem is mainly important to the steemit platform and it isn't necessarily a bad thing. The potential growth of the platform is huge, and so is it's cryptocurrency , steem. As I continue to point out, the advantage of steemit is that it connects a growing social community to the cryptocurrency market. Millions of people will be introduced to steem before they even know anything about bitcoins.

You can refer to steem as a Sleeping Giant

This post received a 3% upvote from @randowhale thanks to @msg768! For more information, click here!

The Steem charts are not saying that but heh, everyone has an opinion about the price. I speculate Steem will do well when Bitcoin cools. Bitcoin is still looking bullish for the time being.

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I'm looking at STEEM/BTC and I think the chart is pretty self-telling! How much will it dip again depends on what happens with Bitcoin. If Bitcoin rallies to let's say 10K USD, STEEM will probably dip to approximately $1 maximum.

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  ·  2 years ago (edited)

Also, if you look at the orders, you'll see that most buy orders are placed below $1.30 so there's very little liquidity at the current price. You can see more sellers at this price than buyers. It only takes one quite average seller to lose patience for the price to drop 20 cents and that will trigger the other sellers which can easily drag the price down below $1.20 again...

hi what u think about monero its value increase day after day

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Never heard of it so I can't comment...

I'm having trouble depositing into an exchange that offers SmartCash. Do you have a preferred exchange? Also why such confidence in SmartCash anyway?

@ironshield

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I bought mine using cryptopia and it all went pretty smooth. You may wanna try jumping on slack through their website and see if anyone is selling? You might be able to get a better deal there. As with my confidence in SmartCash, it's just an instinct based on my research. I could be wrong, so don't invest because of my confidence. Try to build the confidence yourself by doing your own research! :]

Thanks.you apvote me. i will also apvote you

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BTC, I believe that this in a bubble, I can't believe that price