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RE: STEEM: 1-DAY MACD could be about to go green (soon!) on poloniex.
As you predicted, btc would rise again. Everyone's back here. But still, let's be hopeful that the trend will persist in the upcoming days.
A good view on Bitcoin and major altcoins for this month:
https://steemit.com/bitcoin/@az-charts/bitcoin-below-2500usd-and-it-s-crashing-needs-to-keep-up-the-pace-3300usd-early-target-or-monthly-weekly-daily-view-21-july-2017
https://steemit.com/ethereum/@az-charts/altcoins-eos-to-3usd-ltc-to-65usd-eth-to-290usd-zcash-to-320usd-dash-to-230usd-or-altcoins-monthly-weekly-daily-view-21-july
Did I predict that? Oh good.. Haha. But yeah, I'm always hedging my bets/predictions :)
I think I said short term i thought it would bounce back. After every crash there is a bounce; the only question is how high it gets! And then yesterday we got a really nice spike but that was entirely due to external factors (segwit getting approved).
But medium term, I'm wouldnt be surprised about a longish 'consolidation period'/or 'correction' period... but we shall see. Coinbase are apparently still signing up record numbers!😀
Yeah I think you did @xaero1. ;) You told me once that steem and btc will go up again. What a relief for everyone here. Everyones was panicking and I even saw someone selling his steemit acct lol. But let's see how high it gets. It's pretty exciting to watch, especially to someone new to crypto trade.
Maybe it's time for me to change my steem. I should probably invest more in sp too, it sucks that my upvote doesn't really have an impact on anyone's post. Especially on mine!
Where do you recommend saving btc btw, hardware wallet, offline or some online wallet?
I've got a nano ledger s. Would highly recommend for anyone who keeps offline BTC, ETH, ERC20 tokens, or any of the other cryptos it supports.
I think it's sensible to only store up to a certain proportion of your net wealth in crypto. This proportion should be such that if the value halves (which can happen all the time in crypto), or even goes close to zero, you should be 'ok' with that. If you aren't 'ok' with that, then you're probably too heavily invested. And, if you're long term bullish and don't have too much invested as a proportion of your net wealth, then low prices are time to buy more.
For example, I recently planned that my limit for buying steem power would be 200,000SP. But when prices crashed down to $0.90, my instinct was to buy more at the low prices (and to offset the fact I paid over $2 for some of my SP)! So, that's how I ended up with 250,000SP😃What I wasn't thinking of doing was selling, esp. at low prices!
Due to the amount of steem power I have locked up now and because I also have some smaller long term investments in crypto (ERC20 tokens mostly - e.g. GNT, REP, GNO, and others), I don't really like to hold much BTC or ETH right now, and prefer just to trade it. Also, I prefer tokens to hold, that potentially offer a return on investment and have low inflation. STEEM has some inflation, but does offer a very good return investment in the form of payouts to offset this. Anyway, whether it works out or not, SP is my main investment. But, many people like BTC because of its potential for genuine adoption as a currency, and the hard limit on how much will ever exist (21m).
As for investing in STEEM, it's gamble I'd say (but I'm all in!). But, since rewards are now linear in relation to how much you have, then hopefully even a modest amount should generate a return on investment. This was not the case before the recent hard fork. I guess you could invest a modest amount and then record how much return you are getting, as well as seeing if the upvote power boast is doing enough for you :)
And if you're looking to building a position in crypto long term, I would recommend dollar cost averaging. But it only works if you stick to the plan😀 I.e. If the price drops, you keep buying your regular amount to add to your position; and what you don't do is panic sell the position you've spent time building up, imho hehe!
I agree, I'm really not gonna be heavily invested in crypto / btc for now, since I'm new to this. And like you, my instinct was also telling me to buy when the price was low. Instead of being like every one panicking here.
This is what I'm planning to do, just buy some regular amount and build it from there. I think I'm pretty happy with what I've done with my steem right, and I'm happy to change it to btc now. So maybe I'm gonna wait for the next down lol, to buy.
I like risks as you can read on my blog lol, so I don't usually worry about something since I don't have a lot invested. BTC is a high-risk investment I think,but for anyone who knows what he/she doing, then there's profit to be made.
Wow it makes sense to me why you invested in sp, just imo, if you post something, you can quickly upvote yourself (which is default here anyway), then attract more upvotes due to the value of your upvote. You can even help yourself get to the trending page of any topic (this is what I've observed so far), then you're even more visible to upvoters & followers.
This is why I think it is good for me to invest in sp, aside from the long-term reward.
Thanks as always @xaero1
Thanks, and you are very welcome. Good luck:)