Hey it's me Drifter Programming! I normally don't post stuff that isn't related to Computer Science, but the whole Bear market crypto situation got me thinking and so I thought that sharing my opinions with you Steemians could be a great idea! So, without further do, let's get into it!
My History with Crypto
2013
I learned about crypto 4-5 years ago in 2013, when it got to 1000$ for the first time! Man was that a milestone! Who would have thought that it would even cost 100$ or 200$ at that time. So, I started mining a lot of coins, but didn't have any hardware that was good enough.
2014-5
In the years 2014-15, bitcoin was falling and so I got out of the game. FUD was there, the same way as it is now and so I just kept hodling what I had. These years disappointed me and I stopped doing crypto-related stuff. I stopped mining and even got blocked my some markets because I was inactive.
2016
In 2016 Ethereum got really popular in mining and so I started mining and got a lot of those coins that in the end of 2016, where Bitcoin also started to grow, costed a whole lot! I sold most of them and got me some things, but man do I regret it, but yeah I can't do nothing about that now. In 2016 I also created my Steemit account where I started posting news stuff and after some time I stopped, cause there was no time because of studies.
2017
Well, then 2017 happened. Who would have thought that it would reach almost 20,000$ by end of December! Either way I started posting more frequently to Steemit, by posting helpful material for Computer Science Students or people in general that want to learn programming! And I earned money that I else couldn't dream of having. I can now finish my studies much easier and don't have to worry about having to spend money on things that are not essential. I have upgraded my computer and now have 2 monitors, new hardware etc. something that sped up the time needed to finish off assignments a lot! This also means that I got full-time into crypto, started trading, mining etc.
2018
And now here we are in 2018 a year after the crazy upride. Bitcoin is falling and falling and everybody is panic selling. It seems like there is no bottom in this giant correction it's doing. But, I think that the bottom is near and that hodling is the best we can do right now. If we sell we might miss the opportunity to buy, because by selling we limit the already limited supply bitcoin has. Don't forget that a lot of bitcoins have been lost, many are HODLers that don't mind the corrections, and also don't forget that many professional traders have come to the game and already have placed the buy orders to buy the dip.
Trading
From all that you can see that I'm not an expert. But I sure know a lot and have done a lot of great trades with altcoins, that gave me huge profit. I have mined or bought coins that where interesting and are really good projects that are worth investing into even now.
Those are altcoins like Zcash, Ethereum, Civic, Siacoin, Stellar Lumens, Game Credits etc.
All those coins have something in common: "They are useful".
- Zcash is about Privacy
- Ethereum is about writing programs with blockchain
- Civic is also about Privacy
- Siacoin is a storage platform
- Stellar is a financial system
- Game Credits is a currency for Gamers
You can see that altcoins are not about money only. The altcoin projects are great ideas that can really be useful and the people that work behind them are really good at what they are doing!
I'm currently hodling the coins I listed and even Steem and Steem Dollars. I also like to daytrade a lot and analyze the RSI and MACD's with TA and get into some smaller coins to get profit as well from time to time! Right now I actually don't have so much time for trading and I also think that during that phase it's not a great idea to do risky trades either way.
Bear Market
So, let's finally get into the bear market we are in. Well, as I already mentioned earlier, I think that we almost hit the bottom and are done like 90% of the correction already for Bitcoin. Why that? Well because the supply is already limited and so many people panic selled and many are already waiting to buy the dip, this selling can't go on for much longer. As soon as the big guys come into the game we will see Bitcoin skyrocket and it will reach a new ATH very fast! Always remember that small supply coins are popular to buyers and when this coin also has the name "Bitcoin" well then oh boy will it be pumped to the moon.
And what does this mean to me and you? Well, because the supply is limited and most people will not sell, cause they are hodling, there will be a limited amount of coins to buy on the dip. The big guys and expert traders already know this and have placed their buy orders. This will go really fast and so a lot of people will lose the opportunity to buy cheap.
So, if you have Bitcoin don't sell it, cause losing 10-15% for a week or 2 is nothing compared to the 100%+ gain that it will do after that correction is over. It's already to late to sell and doesn't make so much sense now. On the other hand, if you want to buy, find the best place for you and place your bets, and don't wait for the biggest dip, but just buy in a good price, cause the first waves up will be huge and you can easily lose the perfect opportunity or even a opportunity at all!
Steem
Lastly I also want to share some thoughts about the future of Steem. Steem is a great platform and got a lot of attention recently. It also got to Binance today, one of the biggest and fastest growing exchanges right now! It is keeping up really good in that Bearmarket by showing bull-signals right now and going up the last weeks a lot. Steem Backed Dollars (SBD) are also doing a great job and because of small supply and pumps that occur often it is also a great candidate for rising in the near future!
The biggest sellpoints of Steemit are:
- Earn money by posting stuff
- Fast transactions (really fast Blockchain)
- No fees whatsoever
- Community
and many many more..
This year we will see Steemit earn more popularity as more users rush in and the whole platform will grow even more. This means that the price of Steem (the currency) will also grow exponentially. By seeing the ATH with BTC I can already see that Steem is worth nothing right now! Steem was worth 0.0075 BTC in July of 2016 and peeked at 0.001 BTC the July of 2017! Right now it's worth about 0.0005 BTC and you can already see where I'm going.
- getting into a new exchange and expanding it's horizons
- attracting new users daily
- breaking transaction records one after another
We will see at least a 0.001 in July of 2018 and if Bitcoin also finishes the correction and gets to 30k, then the price of Steem will be 30$!!!
So, there is only one thing left to say
Image Sources:
Thanks for reading this post, I hope that you enjoyed it!
Tomorrow I will continue with my usual posts and it's most likely that I will post about Physics!
See ya!