Yes, it was the whales selling...I'm planning on buying more ICO's and tokens with these up-coming profits.
Great post @johngentry!
While this post is primarily about BTC, I am relatively new at the investing world; and, could only ponder what the best move would be if the recent SBD began to drop, leaving Steemians with a huge decline in earnings.
I’ve bought a few other alt coins as an experiment to watch them for the next few months, as a learning measure of ebbs and flows in trading.
I’ve also been researching various exchanges.
Bittrex has received rave reviews; but, since becoming a member (~a week ago), I have yet to be able to deposit any STEEM, due to an error message, which seems to be quite common among users.
This reminded me of a ‘red-flag’ warning, that the recent gains were all inflationary; and, might be about to tank.
The inability to access an otherwise popular exchange may have something to do with ‘whales,’ in the background, preventing buys of other coins.
Of course, this could be just conspiratorial; but, I couldn’t help but notice that openledger.io was down all day yesterday, declining any buys/trades of specifically mentioned STEEM.
Thanks for this insightful post!
Best regards for 2018!
Peace.
So several exchanges have been having issues signing up new people. I have come to the conclusion that the exchanges never expected or prepared for this kind of people influx. Just the sheer amount of users on the CBOE crashed the website. Coinbase, and Bittrex have also reported issues in that regard.
Now for your SBD question in theory 1 SBD = 1 USD however due to the nature of open market, and SBD being a listed crypto anyone can buy, speculate or buy up access supply. Since the Korean market has seen allot of this I would look at what could happen from that perspective.
STEEM is under valued in my opinion, and really still needs to be discovered. I don't see SMT getting the attention needed, and unless a real marketing campaign is created STEEM will have issues getting above $4 USD.
This unexpected influx sounds like good news for crypto.
It’s good to know there’s a viable reason for the error message.
Yes, I’ve heard that there was a huge buy in the Korean market as a safeguard against the potential military conflicts brewing.
Whew…$4? is very underwhelming; and, I have to agree with you that SMT will be of little effect for minnows/planktons. And, the number of whales benefiting from the SMT is also questionable.
It shall be an interesting 2018.
Thanks for sharing your thoughts!
Peace.