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RE: Here we go... steem is officially under 1$

in #steem6 years ago

It's impossible to know. It feels like the bear market could last a while, but in crypto, as in all markets, the smart money often does the opposite of the prevailing mood.

I'm no financial adviser, but a smart buy strategy might be to take the funds you want to invest, and divide them up, invest some now, some later, and some even later at predetermined levels. That way, you get an average, and if the bear market continues you can still take advantage. But if it doesn't, at least you bought some now.

Ultimately, many cryptos will fall. For example, my own suspicion is that Litecoin and Digibyte can't last, because they will never have Bitcoin's brand value, and those advantages they do have over Bitcoin will be trumped by other coins, leaving them squeezed out. But what do I know.

The market in general, including Bitcoin, will bounce back, I believe, and ultimately go on a bull run when the big money finally enters the field.

Steem I believe in, as it has one of the strongest use cases in all crypto, a tokenized social media of the future. EOS is an obvious threat, naturally, with Dan building Steemit 2.0, but I think there is room for both, and I suspect we'll see the same folks on both platforms anyway. :)

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Ultimately, many cryptos will fall. For example, my own suspicion is that Litecoin and Digibyte can't last, because they will never have Bitcoin's brand value, and those advantages they do have over Bitcoin will be trumped by other coins

And imagine I read lately (from a big investor) the exact opposite. Especially for DGB

I am a huge believer of steem, you should know that by now. And I think that it is probably the only coin that can have an every day use. Just imagine...if you had tons of money and you wanted to make a transfer, which network would you use? BTC? with almost 30 mins delay for every transaction and high fees? Or maybe steem were the transaction happens with a blink of an eye and its fees are practically 0????

Time will tell for sure...
Thanks for your nice comments!