Yesterday I decided to sell some BTC and make my first purchase of ~ 300 Steem to put some skin in the game, AND because I am thinking that BTC is going to come down a bit again before going up. Therefore, I will continue gradually loading up on BTC (through web marketing and transcription work I do), try to sell on the highs (into Steem) and then buy BTC through the lows, while simultaneously writing SteemIt posts and monetizing on the SteemIt end. I think this is a prudent strategy. What are your thoughts, @walkingkeys , on the trajectory of BTC over the next 12 months? I just read this article by a Goldman Sachs analyst : http://www.businessinsider.com/bitcoin-price-technical-analysis-goldman-sachs-top-2017-8 , and he is saying the same thing about the current run heading for a correction. What I am saying is that such a yo-yo trajectory can be IDEAL for us all to systematically build BOTH our BTC and Steem holdings. Just my thoughts.
Great reply.. you got a new follower. Good move on the Steem investment. It is low right now in my eyes. I think you did the right thing with BTC. I'm really trying to decide where to put my BTC profit. I am thinking spread out over some alt coins... somthing like Golem, Aregon, Civic or just buy more Ethereum. I don't want to put in STEEM Power because I want to be able to quickly buy back into BTC after it goes down. That is my challenge now. Then over 12 months I see it at least 30% higher than where it is right now. Because of the low supply, I think the price will go up pretty rapidly over the next 12-18 months.
Thanks for the great reply. I also stick to a similar strategy and I think it is prudent as well. Nice to meet you. Thanks for reading and replying.
Yes, I am also adding ETH to the mix (through Coinbase). I have also fine-tuned my strategy so that I will likely sell 0.01 BTC per month and buy Steem, convert to SBD, and then convert (likely) half my earning from blogging on SteemIt back into SBD, and hold the remaining in Steem so that I can use it for other cryptos. Trying to limit my holdings to 3-4 of the most promising cryptos. I include Steem in that mix ESPECIALLY because it allows direct interaction with the currency (ex. blogging) as opposed to just sitting idle, watching the other cryptos wax and wane the more direct contact that SteemIt offers.