The crypto markets are showing minus figures across-the-board today and it is easy to panic in this situation because there appears to be nowhere to run. You can't trade your way out when everything is dropping!
Short of running to a Bitcoin exchange shop and turing your crypto into cold hard cash, there is very little you can do.
Steem is currently valued at:
- $1.64 on Coincap
- $1.59 on Coinmarketcap
- $1.72 on Bittrex
- $1.65 on Poloniex
This is a big drop from the average of $2.25 we were seeing last week.
Interestingly STEEM DOLLARS (SBD) are not suffering at all and currently sit at $1.56, up 20%
HOW CAN WE TAKE ADVANTAGE?
Now would be the perfect time to use your SBD to buy Steem.
Frankly, you should use anything you have to buy Steem!
I am currently transferring all my Dash, Ether & Litecoin over to Bittrex where I will buy as much Steem as I can.
And will later today turn the IDR in my pocket into BTC at my local exchange before turning that into Steem too!
Check this graph from Bittrex and you can see that after its dip, Steem is already rising steadily back up.
And I wish I had gotten out of bed two hours ago to take full advantage of this!
I should also add that any pay-outs you receive at this time will give you more Steem than they would have done a week ago. Which in a month from now you will be very happy about :)
1st RULE OF TRADING
Don't make rash decisions during a crash
2nd RULE OF TRADING
Use the crash to make further investments at crazy good prices
3rd RULE OF TRADING
If in doubt... HOLD!
I'm not gonna lie to you... these are in no way 'official' rules of trading. I just wrote them spur of the moment.
But they have worked very well for me over the last 3 months and I hope the traders amongst you will have some further pearls of wisdom to offer me in this moment.
Blessings to you all.
And long live STEEM!
