For the Last Four Months I Have Been a Seller of Steem.
As Steem climbed throughout the spring I was powering down my Steemit account and putting that money into other Crypto Currencies that I felt would bring me more profits in the short term. To me Steem and the Steemit platform was not showing me anything exciting. Unlike many folks on Steemit I do not cheer blindly for the crypto currency. If the signs show that the token will fall in value I move on to something else.
The momentum is shifting for Steem.
- The chart looks great!
- SteemFest is Coming.
- If the RoadMap is Followed Communities on Steemit will Be Rolled Out Soon.
- I Sense We Will Be Leaving Beta Soon.
- Serious Non Crypto Influencers Have Been Joining Steemit.
- New Tools Like Dtube are Being Launched.
- When Everyone is Negative it is Time to Buy.
The Steemit Chart for August 25, 2017. Provided by My Friend Cory Barnes. Is a Breakout Imminent?
The Crypto Rubberband Effect.
If you follow me you see this term used often in my posts. Bitcoin and Altcoins traditionally act like a see saw. When Bitcoin rockets the altcoins drop and vice versa. Currently Bitcoin is very bullish. This has slowed down the altcoins but don't be dismayed. When the money comes back to altcoins tokens like Steem will benefit. I personally think Bitcoin will peak out at $5,000 in the short term and then begin trading sideways.
This is great news for Steem. When the money gets bored with BTC the traders will look for opportunities. Steem is ripe for a pop because it actually has a use case. Imagine if Steem was discussed on CNBC or in the NY Times. This might not happen in the near term but I sense some positive gains for Steem in the near future.
I will continue to powerdown my Steemit account for the time being. I have nothing against Steemit. I just prefer to have control over my holdings.
