RE: Happy Holidays and New Year!

You are viewing a single comment's thread from:

RE: Happy Holidays and New Year!

ew-and-patterns in #steemit • 5 years ago

When I came here, I knew that I would lose everything or gain massively in the long run. I am not gonna sell for pennies ever.
From an Elliott wave perspective, it would be stupid to sell now. Like most cryptos, Steem is doing a massive correction first, but I had not thought about the correction being this big and time-consuming. It's a fact that we have not seen any impulse yet. The all-time high was only wave X (hype ) high and we are still not done with wave Y low.
So we don't know what the first impulse is going to look like. Could be 50 cents, could be 5 dollars for wave 1, nobody knows. But I am definitely not selling even if it goes to zero. Already lost 98% so who gives a f... about the short term price?

5 years ago in #steemit by ew-and-patterns

0.00 BPC

3 votes

Sort:

Trending

[-]

ethereumalist 5 years ago (edited)

Well, that depends. My STEEM not powered up I have been selling for HEX. Because its rank on coinmarketcap is 2200 or so and it pulled in a lot of Bitcoin whales that will likely support it. So, I think that is safer than hoping Steem will regain its value.

You can check it out with this link if you want. I think its going to be performing real well in 2020.

10% Bonus

Plus, I love everything Ethereum and DeFi, so I'm happy to see a dapp on Ethereum that allows for certificate of deposit savings accounts.

0.00 BPC

3 votes

[-]

doingdailies 5 years ago

i'm not sure if Elliott -Wave theory applies to cryptocurrencies but im actually not sure any classic forex/stock theory applies all across the board from the 1920s to the 2020s b/c all of them just take all statistical data of all time into one big bucket , take the median out of it and apply that to any given situation at any point in time , regardless of the situation or the time ...
so , even if the numbers are 100% accurate the data needed to predict is way more and i dare say beyond omega to even have the slightest chance of being accurate . Big movers are worldly events id say almost 90% of the time or more, and there's also the ripple effect you get like : dollar moves -> world moves (or in the very small world of planet Crypton : BTC moves -> world moves) ... the thing with crypto is its actually SO small its even more prone to worldly events and even one 'renowned' 'investor' might speak just a few words to move it , hence

statistics ? i dont believe they're any good. What one CAN be sure of is that the majority of the coins (main coins) is owned by a very few people , probably the same ratio you get with fiat and classic wealth and in this case its manageable and the one certainty is : they want to make dollars , so it has to go up and it has to come down at least once a year and preferably several times ... events are the things to look for .

as for steem : its hyperinflated : its mathematically impossible to hold a certain level of dollar value over time

2 months alreayd, wow

well im gonna try to check this feed once a week, its gotten even less interesting now they show they can just frees it on the consensus of 10 people without any court orders or anything

that makes it a very high risk, even for non criminals lol, (unless that last one was a known criminal ? )

i quit following the circus here really

0.00 BPC