Bloody Monday - what a great day! Steem at 1.13 USD.
Hello fellow steemians,
The cryptocurrency market reaction to China's outlaw on ICO's is an obvious decline in the entire market. The Chineses authorities together with PBOC (People's Bank of China) not only put a halt on token trading but they go as far as possibly ordering to return all the funds raised from previous ICO's which would have a devastating effect on the price of all China based companies based in cryptocurrencies. Fortunately enough, I personally do not hold a big amount of any China based crypto currency with exception of one but that is less than 1% of my overall portfolio. What does it mean for an average crypto investor? Personally, as tempting as it is, I would not probably touch any crypto based out of China. There are some cryptos that seem to be really a bargain but I think this might be just way too risky until the final outcome from the Chinese regulators. Nevertheless, that does not go for the rest of the market as there are many amazing projects whose prices are just diving based on the news. What a perfect time to do some discounted shopping. I do have my favourites but since we are all sharing the same platform then we all should be fond of one which is Steem. At the time of writing price is at 1.13 USD which is a bargain. Can it go lower? Of course it can still dip lower but I would really not bother about catching the reall bottom as the rebounce can happen faster then you think. Those are just my personal thoughts, not an investment advice!
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Tomas
CEO & Founder of CGH
I am sooo happy to see the markets in the red today. I think it's an awesome buying opportunity. We need to not become emotional and follow the most basic rules of investing - buy low, sell high. Now we're seeing coins who haven't been so low in months. STEEM is one of them, but I already bought my STEEM a couple months back. I think it's one of the best investments I've made so fare - doesn't come close to BTC, ETH, LTC, DASH, EOS or NEO that I have. My STEEM is collecting interest every minute - from a compounding point of view that's AMAZING. I get a few rewards here and there as well, some SP, some SBD which I sometimes trade for coins or buy mining contracts, and most importantly the curation rewards.... damn it's so sweet seeing the curation rewards every time I open my wallet, that keep on pouring in, and collect interest as well as soon as they're redeemed ...
You said it right there! Steem has something that many crypto don't which is the power of compounding effect from the rewards earned..... even if the price does not move you can still make more than decent amount.... put those two together and you make a killing...
Tether - 1.7% up.
Why didn't the fall affect Tether?
Tether does not move much and always stays around 1 USD value.... It is something like usd of cryptocurrency so you can get in and out of crtypto thought USDT and actually changing it into fiat..... It is actually fantastic thing for those who use it correctly...
This comment has received a 3.13 % upvote from @drotto thanks to: @banjo.
Good article, a good common sense approach to the crypto world, cheers mike
this is bad news already i am holding eth lbc fct sc coins and it goes further down
Just hold and look back in few years!
So sad
No need to be sad, this is just a great buying opportunity for those who can or for those who missed out..... The ones that are seeing their portfolio loosing value just have to hold through the bad times as the value will rise eventually.... all it takes is patience..
Thanks
I dont know much since i m new here
It's great to start the day with great quality content like this one! keep up the good work, the info it's very helpful for those in the hunt for satos, cheers!
Buy in and take it to the bank!
Wow ! Thank you for sharing great helpful information
followed you wish you the same :)
thanks for the information. please do keep me posted in case there is a change from Chinese government policy.
do well to follow me, thanks
It sounds like an investment idea to me because i think this is the best time to buy.