Poloniex: STEEM/BTC - On The Way Down!
Hey, Steems and Steemettes!
Time to hold on tight, as Steem is likely going down, thanks to the recent withdrawal of the WannaCrypt ransomware from the net. Its spread is now reduced and all cryptos will slowly go downhill, unless new ransomware is on its way! -=(O_0)=-
I know you hate to Power Down, but Steem will be one of the fastest currencies to drop in value - it's constantly printed, used by few people and services (even Steem's developers didn't use it for EOS's distribution ¯\(ツ)/¯ ) and has been historically hard to move from rock bottom, despite all the developers' efforts - save for the recent laundry related transactions, which brought its price up.
You can click for a bigger image!
Check out some of my previous posts:
- Poloniex: ETH/BTC On a Steep Drop
- DEK Photography: A Girl in the Mist
- DEK Macro Photography: Before And During the Rain
- DEK Photography: The Sea Observer
- DEK Photography: On the Run
- A Couple of Words on the Fair Sale of EOS (Including a discussion with Dan)
- DEK Macro Photography: The Sweater Bug
- B&W PHOTO CONTEST: An Intimate Portrait of a Person Browsing Steemit
- STphotochallenge - Sunrise and Sunset - Fire Sunset
- Off Roading on a Flower
- S7 Photography: The Bay Panorama
- The Entrance to the Swarm
- DEK Macro Photography: The Sensual Snail
I personal think STEEM wont go under the 70k satoshi.
I've no idea, really, I can't predict money laundering. I'm just saying that it happens rarely on such a big scale as WannaCrypt, which means that in the absence of such a stimulus, Steem will drop close to its previous values.
Oh good I can buy some more soon then!
If you'd like to buy Steem, I'd suggest waiting a month or two, until it bottoms out - that way you won't lose much, but only gain, if massive money laundering is on its way.
Yes I'll be waiting patiently. I have a feeling most Cryptos have topped out for the time being. Just sit on your ugly fiat and wait for the next wave 😁
Actually fiat is less volatile than cryptos and it's not a bad idea. However, I'm simply trading Etherium and Steem vs. Bitcoin. Bitcoin will undoubtedly loose value too, but slower than other cryptos, which creates an opportunity to trade on the way down.
Fair enough, share your targets/thoughts/charts in blogs 😁
You can see the ghost bar trail and support and resistance lines in the image in this and my previous post.
How does the ghost indicator (purple?) get calculated?
It's not calculated, I simply copy paste a previous time frame, which is similar. It's not the hardcoded future, just a possibility, based on historic performance.