When altcoin pump?
So, you may have noticed the sharp spike in bitcoin prices. Looks like we're up above 11k. So, that's healthy. Question to me is when will people holding bitcoin look around and see all the cheap altcoins that haven't followed btc. This second people are still chasing... but how long will that last.
Pump is actually a pretty good analogy because it's about transfer. I know some people are selling alts to chase bitcoin, but at some point bitcoin starts looking overbought and people will be looking to get out of bitcoin and into other things that look like a better deal. That may start next with the majors, but eventually those won't look like great deals either.
At some point you're holding a bitcoin and realize it's worth 30,000 Steem. When do you stop chasing bitcoin prices and start pumping alts?
I don't know that answer, but my guess is that we're not that far off.
Positive Upward Cycle
One of the things about Steem is that I think it's more volatile than any other token. People earning it has something to do with that and also SBD. The fact that you earn means when prices are higher more people want to earn it, and the opposite when it's lower. That puts a lot of buy/sell pressure on the system at both the highs and the lows. SBD also makes a funky case too. Keeping it stable when price is low means Steem gets REKT. If SBD starts pumping because it's a short supply token people use it to buy up Steem at favorable rates.
I personally think we're pretty close to the next pump for Steem. There's a lot of development people haven't heard about, but if prices start going up again people will pay more attention, and the long crypto winter will end with a bang as all the hibernating Steemians come back with their "Hey, sorry about the absence. I just didn't give a shit about steem while it was at 40 cents, but now that's it's back above $1 I'm stoked to be here, remember to upvote, follow, and resteeem me!"
Anyway, if you happen to have some bitcoin
Now, might be a good time to swap it out for some Steem.
May I also interest you in some Monsters at steemmonsters.com or steem-engine.com for some tokens there?
I have a feeling things are going to go up in price around here pretty soon. Enjoy the ride.
It's all Tether + LEO manipulation unfortunately. Both owned and created by Bitfinex.
Shit is gonna get crazy on prices. I'm getting ready to sell some on way up. Last time I didn't and I would have had 100k usd...
never everyone knows bitcoin is king
lol .. people here for make profit. you can't trade in only btc.. five fingers are required to become a hand :p
What? lol
Going to talk about #steem-engine on my crypto blog this week. :)
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Unfortunately i sold all my btc for steem at 7000 satoshi
100% - so maybe your wounds can heal...🙂
Aye thank you. A few 1000 of those and I'm golden
Ready and waiting 🚀. It’s been a long winter and the sunshine is about to feel amazing 😎
"Hey, sorry about the absence. I just didn't give a shit about steem while it was at 40 cents, but now that's it's back above $1 I'm stoked to be here, remember to upvote, follow, and resteeem me!"
Lol. I’m betting we will see this in short time as well. You’ve been here longer than I do I’m sure you’ve already seen this exact scenario.
I do agree that fun times are ahead. When exactly?!? Anyone’s guess.
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For sure man. I'm almost at 3 years on steem and I have seen that scenario twice now LOL. Looking forward to the next one cus it'll mean price is up :-)
!dramatoken
Get rdy for some price drama
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It is time and I am ready for any positive eventualities in prices now @aggroed :D
It has been a long hibernation.
I hope it really!
But I don't, @steemit is powering down and selling at any price:(
If they stop that, the price can go to the moon:)
Judging by the last hype cycle, It is rational to think that alts will pump only after the big majority of people will be comfortable with a fully established btc bull trend. I remember back in 2017 when steem had an explosive bull run, most gains were made in the last months of the hype cycle. So accumulate now while you still can people! It will definitely shoot through $10 in the next 1-2 years :D
Lol.. This is so true.
In a way it is positive for the Steem price to take a hit because when the price of SBD is higher it is always much more easier to earn Steem and convert to SP. It encourages investment. The problem is, that is only feasible to the 1% of Steem making more than $10 a post.
The guy earning cents probably sees it as a waste of time and they are the majority on Steem.
You have a point here .. i’m one of those persons, making just a couple of cents per post, and i have not posted much in a couple of months now. If i post something, i like it to be a little bit if quality content, and this costs me, as not being a native english speaker, quite some time and effort. And beside the just a couple of cents, my engagement is pretty bad also, so it is not worth the trouble for me, i have always be more of a loner.
The upside of the low prices is that imho the quality of content went up, much less he bro, chill! Chull bitcoin pizza fomo hodl shit.
I know how you feel. Being part of a community always helps. I am part of the Steemmonsters community as well as tokenbb community.
Make friends with people because rarely will you get a random quality vote from someone who does not know you.
When I am finally a dolphin I will surely invest my time in supporting minnows more because I know what we go through. 😊😊
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Im gonna sell my paid house buy steem and live in a tent yeah!! I'm gonna be rich if it is 10 dollar again. 😝
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I hope you're right..
@aggroed
Do you think we can handle a lot of attention?
Like:
...
I think we dont need to run. Its a marathon. But i really love your Vision!
Yes, gotta love that rush of people with "hey I'm back." $1 is like the mendoza line for the non-hardcore steemians. ;-)
Got the same feeling. If BTC holds those levels around 10-12k$ alts won't be long to follow. The worst scenario would be if BTC happens to drop hard without giving time to alts to follow its rally. That would be very ugly.
If STEEM pumps, does steem tokens (like on steem engine) pump as well? We shall find out soon 😀👍
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Agreed I thought we where going to stall out at 10k honestly then someone did two major buys and pushed us over 11k which blew my mind what that was about. There are alts that use to trade for 50 satoshi or more when the price of bitcoin was this high. Still solid projects and coins but are now trading for 15 satoshi. Can pick up some rather sweet deals at the moment if you believe in a coin/project.
When trading instead of looking at $ value look at satoshi value.
Just sold some EOS for Steem.... steem engine virtual mining tokens to be more precise ... :)
smart!
wow you are so smart ♥
Yes I'm!
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This is just my personal opinion since it’s the only thing I have tried.
My mentor told me that choosing where to invest will depend on your goal and what you want to achieve.
They say if you want to keep or conserve your money, you might want to check Bitcoin(BTC) and Litecoin(LTC).
If your goal is primarily long-term, then you can go ahead and invest with Dash(DASH) or Ethereum(ETH).
You want something accessible and less pricey? Then Litecoin(LTC) will be perfect for you.
But for me personally, I chose to invest in all. That is because it can be all of the above at the same time. You can conserve your money, it can be long term, and its easier for me to invest in https://allcoinvest.com investment platform where I get double of my investment after 7 days. With that, I invest in BTC, ETH, DASH, and LTC since I still get my returns not bothering about the fluctuations of the cryptocurrencies.
May the Steem ♨ Force B with Us !!! 💙
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i saw the price of bitcoin go high and steem go down so i sold my profits for steem! i beleve in steem!!!
Steem's economic system is so damn broken, it doesn't incentivize buyers to invest in the platform and the buy/sell ratio has been in favor of the bears for so long now..
The new EIP is looking promising but I don't expect miracles just yet. Unless we fix the crap of our own house, no one will ever give a shit about us and steem will continue to fall as always.
@daltono, present. Never absent. Daily posts since Dec 1st 2017. Not only do I actually enjoy creating, I know deep down its going to pay off bigger than anything ever has in my life financially.
We are all going quantum soon enough, welcome in sovereignty 2020
Lol, 100% haha :D
Great to hear some bullish news for steem. Makes me feel a little better.
tubewel is best
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Yes, please. :::looks pointedly at Universe:::
I certainly hope there will be a nice spike in certain altcoins. Last time it didn't make sense for me to sell bc of personal situation, but now I am "free" and it would be nice if I get a few thousand out of this ^^
It is also important to enjoy the ride on the blockchain.
I saw this before and I think we will see the same scene which is when Bitcoin and other crypto dumps Steem pumps
How difficult it would be for you to get an interview on the Bad Crypto Podcast about Steem Engine and your other projects? The have a massive audience.
Pump, nah, you need to change that thinking to long term sustainability. Pump is a shallow word with negative connotations in crypto! Looks like STEEM is finally broken the 41 cent peg though, and finally moving up. Hope it doesn't pump cause that just means dump for the alts! lol
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