BTC Blood bath and How I Plan To Take Advantage
The Blood Bath
As everyone is well aware of by now, the price of Bitcoin (BTC) keeps dropping as a result of several different factors ranging from news from China, S. Korea, price corrections and bubble fears. According to [Coindesk](Bitcoin looks like it might soon test near-$8,000 levels, as December's record-breaking rally continues to unravel.):
Bitcoin looks like it might soon test near-$8,000 levels, as December's record-breaking rally continues to unravel.
As of writing this, the price is currently at $9700, so we're not too far away and we may even start touching the $8k range today.
Missed Opportunity
STEEM has always been relatively cheap. From the time I got in, it had always been around $1.00 and I got used to that and thought it would always hover around that price point. So I got relaxed and only bought around $1,500 USD worth of it and planned on building it up slowly via my posts. As with everything in life, in hindsight, I should have got more when it was cheap ($1.00). As I saw it grow to $7 I was excited and sad that I had not bought more.
My Plan / New Opportunity
It's simple. Take advantage of this price drop in BTC, which is pulling down everyone else, to buy more STEEM and #PowerUp!!! I don't really think STEEM will drop back to the $1.00 range...probably it will hit between $2.00 - $2.50. So my monitor and begin dropping in about $200 as it hits $2.50 and again if it hits $2.00 and so on.
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Well, the joy drop may be over...seeing a potential reversal back to a new upward trend.
So the "bottom" for STEEM today was $2.75.
Current price is now at $4.38.
oh I missed the drop! I was thinking to just earn steem by writing as well but the time might be going too fast.. have been planning to power up also.. regret not buying the steem more when it was around $1 also. :(
Yeah, I really wish I had gotten more when it was $1.00. And I didn't have time to jump in at $2.75. It's hard to know the bottom...you can only see the bottom in hindsight.
I ended up getting some more at $4.10. Oh well...I think at this point its more profitable to just earn it by putting out good content and making good friends :-)
Yes.. so true. I find with the price of steem increase , it's so hard to get steem power compared to last time.
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Your right! Its time to buy! If only I had the money but I'm happy for others who can, thank you for the interesting post have a beautiful Thursday😊😊
Thanks for checking out the post!
Thanks for the post! Helpful for those of us not very savy in this field. Even though I can't take advantage at the moment, it's good to learn more about the logistics of steem.