I'm going to let the inner nerd come out for a little bit and make a reference to chess for a second. Yes, I play chess, I find it to be an amazing game. But, my years of competing (I did that for a little bit) are long gone. However, this post is not so much about chess as it is about taking a little risk.
You could say I'm simply sharing on my blog and that's about it. By no means am I telling anyone and I do mean anyone what it is that they should be doing. As a matter of fact, it's probably better if you don't copy me, because I am going to try to pull a Queen's gambit, and that one almost never works. But when it does, it's awesome.
We are going to go a little lower, just a little bit. As a matter of fact, I just saw some movements on some big accounts that tell me others expect this to be the case as well. So, I'm going to take a little bite, a tiny one, nothing that would kill anyone. After all I'm unwilling to convert anything to fiat at these prices, I just can't do it, I could not forgive myself.
I've read 50 cents, 60 cents, and some crazy unmentionable guy say 10 cents. I say crazy because there was no base for that comment, I just think it was a prophet of doom doing his thing. The other calls have been made by people who I know have some chart knowledge, but of course, no one truly knows.
Not financial Advice
You could say I'm simply sharing on my blog and that's about it. By no means am I telling anyone and I do mean anyone what it is that they should be doing. As a matter of fact, it's probably better if you don't copy me, because I am going to try to pull a Queen's gambit, and that one almost never works. But when it does, it's awesome.
Anyways..., you might have noticed a small recovery in today's price, nothing to rave about, nothing incredibly fancy, no, but it's there. I don't see a particular reason why this has happened, so I don't see this little recovery long lived, at least not right now. Bitcoin dominance keeps on climbing and the BTC maximalists have been screaming at full lung capacity on a cruise all week.
My speculation
We are going to go a little lower, just a little bit. As a matter of fact, I just saw some movements on some big accounts that tell me others expect this to be the case as well. So, I'm going to take a little bite, a tiny one, nothing that would kill anyone. After all I'm unwilling to convert anything to fiat at these prices, I just can't do it, I could not forgive myself.
I'm going to convert some STEEM to sbd, and wait for the valuation to bottom out. Will it happen? I don't know, but I think so. Now, I could be completely wrong and end up with less tokens, so I'm not going to do this with very much. Simply put, I'm basically going to short STEEM on the internal market.
What's bottom?
I've read 50 cents, 60 cents, and some crazy unmentionable guy say 10 cents. I say crazy because there was no base for that comment, I just think it was a prophet of doom doing his thing. The other calls have been made by people who I know have some chart knowledge, but of course, no one truly knows.
Wish me luck...
