A near 10% correction in major cryptocurrencies like Ethereum and Steem has occurred in the last day; the questions I ask myself:
- Are long term traders buying the dip?
- Is this the beginning of a positive correction?
- Is this just day traders doing a quick pump for a bit of profit?
- Is it a mix of those things?
I personally think that a correction is coming, whether today or whether 6 months from now, a positive correction. As for if this is the beginning of that correction, I can't say for sure, as no one can. I have a feeling that a bottom is likely to be hit for Steem soon (if we didn't just see it yesterday) because of the fact that it has so much going for it. SMTs coming SOOOOOO soon (less than 6 months!), such a vibrant developer community, and a huge user base. $0.70 per STEEM is such a discount that I imagine that many whales will be buying buying buying in the very near future if they haven't already started!
WHAT ARE YOUR THOUGHTS? COMMENT BELOW TO JOIN THE DISCUSSION!
AS ALWAYS, WISHES OF WEALTH AND HEALTH FOR ALL!