If You Were Around Back Then, You Know What I Mean
Over the years there has been many ups and downs in crypto, with the ups being the news grabbers. No one gets that excited when things start going down, but when things go up oh boy do people want to talk about it. As Bitcoin has continued to carry on with its ways other coins have come into the picture. And although many of the coins may offer there own little traits and qualities it is hard to argue that without bitcoin they will not succeed.
I know I have probably already ruffled some feathers. People get so fan boyish they often want to argue against it. But if you have been around then you know that bitcoin is almost like the indicator for the whole market. When bitcoin ran from 200~ to 1000~ it was amazing and other coins soared with it. When it ran from 1200~20000 it was AMAZING and there was so much more opportunity than ever. Every single day it was a new low cap coin that was getting pumped and although risky, it provided a lot of opportunity for those in the right place at the right time. While bitcoin ran, there was equally a crazy run in Eth, Neo, LTC, XMR, STR, XRP, ZEC and many others. When the bitcoin started to head the other way, essentially so did 99% of the rest of these guys.
So Whats The Point?
My point is, when these coins are up and going crazy it is arguably one of the worst times to get into the coin. Right now Steem is as 27c each. Is it dead? I dont think you would be here if you believed it to be dead. But do you remember when Steem was 7$ each? That was crazy. And BTC was starting to really go wild again at that point. I am no price analyst but I have been watching the prices of things over the last year. Sure, its been a steady down tread overall in the crypto markets. But it seems to me that we have started to hit this long period of sideways movement. There really has been very little up or downward movement and I can't help but think to myself...."I have seen this before." This is starting to remind me of what happened when bitcoin was at around 200$ after it hit 1000$ for the first time. It hit 1000 then came down and it had everyone talking about how it wont ever pass 1000 again. Then, it did someone similar the 2nd time it hit 1k... it passed it and just kept on going and this ended up creating an even bigger hype than the time before.
Everyone likes to get hype when it goes up, but when the rocket stops then so does much of the coverage. If we are actually hitting one of those points again then I believe that now could be one of those golden opportunities again. One of those opportunities that many of us are specifically here for in the crypto space. Its been a long year of decline and hopefully we see some upward movement soon. The interesting thing about Steemit is how the power down works. So if you end up investing in Steempower while the coin is skyrocketing then you will be waiting weeks to get your coins out. But if you are investing in Steempower while the price is at lows than you could possibly be powering down while the coin is climbing and eating some profit. Just some things. Last time I wasn't ready but this time I will be! Thanks for reading!