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RE: Reasons why STEEM won't make you rich
We are most definitely in a bubble but how long it lasts and how far it goes, nobody knows. I definitely think downside is a very possible risk and people new to crypto will get burned eventually when the trend changes. I also really think SteemIt is a cool platform but I think it's crazy to put your life savings into something that has already shot up to the moon. Just look at Bitcoin's bubbles to get an idea of how this always plays out.
There are many moons in the universe. "To the moon" is subjective. Then again, what If you are absolutely correct.
This current pullback in price atm is probably the first "bear trap" and the next level up is likely around the corner. I'd define this as a bubble because of the 2700% increase in the space of a few days. Doesn't mean it won't go more up. I'd actually guess price is going up after this dip. Just be careful because there is a looooong way down when there is a return to the mean.
if you think about it 3.00usd to .50 cents is not a long way down. ive seen worse in the crypto space. (maybe you have)
It is more likely for the price to correct downwards than to maintain an upwards push. in the short term.