NOT SELLING STEEM | Trading discussion (your point of view matters too)
source: https://www.youtube.com/watch?v=xZmpCAqD7hs
This is an ongoing discussion in a telegram group I'm participating.
One of the guys gave an interesting point of view.
Interesting opinion of others. Here is my opinion. All crypto has a common space, regardless of the name. Players on the exchange, react to the profitable growth of one crypto, withdraw assets from others, ignoring the characteristics of specific coins. Due to the fact that the crypto space is common, each new coin blurs others, which causes inflation of the entire mass of crypto as a whole. Look at Binance, as soon as one of the coins is gaining ground, the other will degrade in price and volume. The supply of crypto exceeds demand.
I think your point of view is very valid for a bear market, i remember on november 2017 we didn't have enough money to put in all the price action that was happening and the market cap kept growing...
Nowadays we have less actors and many are just victims of entering crypto with a BTC above 13000 trapped, a bunch of whales (the early adopters) and thanks to the futures and stuff a big money actors (banks and the likes)
The market has shrunk, some minor exchanges are closing because there is no volume, many shitcoins are showing their true colors and vanishing.
So you are right... We needed lots of coins in the bull market, but now we have the inflation it brought, too many assets not enough buyers.
That is why you see the volume moving from one pump to the next and deflating the previous one.
My strategy (And it might be totally wrong)
I choose 1 asset as a reference (steem) I play between BTC STEEM and USDT
I only go out of steem to BTC to trade and back to steem (because transactions are fast and free) and since December from time to time i go out to USDT to try to protect my portfolio.
It has not worked...
My initial investment in crypto was 15.000€ back in 2017 and 2018 i haven't taken anything out but for some of the steem my proyects earned during the bull market which was mostly shared with the community.
Not a single dollar has left my wallets via exchanges back to FIAT and my portfolio comprised mainly of STEEM has deflated from a 15K€ to a meager single BTC... (3500 USD -> 3000€)
My main mistake...
Buying 1500 to fuel a flagging initiative in Spanish when the STEEM was @ 5.3$
But when you believe in something, these risks are taken and there is no point in regretting it.
In the stock, there is a saying...
You have not lost until you sell...
I just need to figure out a way to hold tight, try to multiply the STEEM i have and wait for the correction.
After all... what is the worse case scenario... That crypto keeps bearish for 2 more years (which looks likely) well that is 2 years to try to surf the wake of whales and multiply the 1 asset i have chosen to believe in.
Help others help others...
Go here DPOLL and vote @votovzla for the 10k delegation
@nnnarvaez, thank you for sharing your experience with us.
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