In the past 7 days STEEM, Bitcoin, Ethereum and many other great coins started rising!
Today things went even crazier with STEEM getting to 3$ with an 45% rise and Bitcoin surpassing 7000$ and almost touching 8000$! SBD follows STEEM (or even the otherway around) like a charm.
I don't normally post about things like that, but:
Today is another day and each day is another Steem Dollar!
Some questions that you have to ask yourself:
- Are we finally in an uptrend and is the Bear-Market over?
- Is this all just a big pump and a gigantic dump is following?
- Do they want us to HODL even more and get rid of our FUD so that they can dump it and get our money?
- Have I gone crazy? xD
I may sound like a conspiracy theory supporter by saying all those things, but the truth is:
Nothing is certain in this world of uncertainty
You are not playing with something that doesn't have a real value, but Trading always contains a risk.
What we do is take the risk and get our reward if we succeed!
Stock and Crypto trading have a lot in common, but the good thing about Cryptos is that they rise by a lot more. The 1-2% rise of the stock market is nothing compared to 50, 100 or even 1000% rises of cryptos! But, this also means that Cryptos dump more (remember remember, the fall of ZCL?, ok that was something else, but you get the idea). Most cryptos "get" a value, because of Bitcoin (some like Ethereum, Zcash can also be traded directly into FIAT) and so they have a price with Bitcoin and Bitcoin has a price with USD, EUR etc, which gives them a value!
Some last words from me:
- Always be patient (patience is key in trading)
- Always be aware of Scam Coins and ICO's
- After a strong pump there always is a dump of the same strength
- Read Crypto News, cause Cryptos are influenced by News and you may also find new interesting coins that are worth investing into!
- You must always have Bitcoin in you wallet, ready to buy new coins.
- Don't rush into a coin with all your money, but by in "steps"
- Never sell all your coins, but only half, 1/4, 1/8 etc. so that you don't lose profit if it keeps rising.
- Never buy when a coin is already rising (it might fall) and never sell when it already felt (it will get up later). Exceptions are coins like ZCL where everyone would rush out to save his money.
- You can sell if you feel like buying again cheaper, but are already in profit. But mainly sell in profit!
- When trading Altcoins check for profit with Bitcoin. The price of BTC influences the ratio of an altcoin with BTC, but not by that much, and so the price of an altcoin with BTC is mostly independent of the FIAT price of BTC.
- When trading Bitcoin or any other Cryptocurrency for FIAT you again check for profit, but I suggest you to do such trading only when you want to take your profit (get money out of the Cryptosphere to buy a coffee or something) and if big pumps of Bitcoin happen and so big dumps follow, which means that you can save your invested money (by keeping it in FIAT currency, which doesn't fluctuate that much) and even earn something by buying cheaper (you will have more Bitcoins during that!)
- And finally, never be disappointed if your trading choices fail...You learn from your mistakes!
So, what's next?
10k, 20k, 100k$ Bitcoin?
5, 10, 30$ STEEM?
What's your opinion on that?
I hope that you enjoyed this post...
C ya tomorrow with my regular posting!!!