Steemit dropped to 2.20$. Why is it not time to sell tokens?
I'm new to the trade, but that I could understand. I think it will help beginners.
If you follow the cost of Steem, you may have noticed that the price has fallen significantly over the past two days. And there was a fall of 10% in the last hour.
The fall is due to the fact that small amounts (as most are now traded ETC after fork) are traded on the market. Therefore, especially the big players play on lowering course of Steem. This is called margin trading.
That is, players take steem at the Exchange, and undertake to give them some time later. Then sell them, causing prices to fall. When the price dropped they buy tokens at the lower rate and give them to the stock exchange. The resulting difference, they leave themselves.
This decrease rate causes panic among ordinary users. This only plays into the hands of the big players.
I advise everyone not to sell tokens, as this will only increase the drop rate. And once again, the course goes up you will regret selling.
Thanks for reading. I wish to make the right decision.
The most important question to follow your analysis is whether or not the support level is solid after that bounce. If it breaks back below again, selling at that point wouldn't be a bad idea because the bleeding would likely continue and you can buy back at a lower rate once the bleeding stops and a firm support is found.
Watching you also bought some steem)
I know the score here :D
I think you have correctly written all ! I'm a novice , and I will follow your advice
For any new traders out there. This is called a shake out. There is going to be a lot of misinfo and FUD surrounding this project as it is a big threat to some other ideas in this space. Not to mention many people slept on this initial rise. People/bitcoinmagazines and others will give false reports just to manipulate the price. Hold these STEEM coins tight and keep them stored safe. Focus on brainstorming about ways we can increase demand for STEEM. How can we make the UI/UX aspects of this website better? What features can we add to drive adoption?
My only regret is I don't have additional funds at the moment to buy more at this dip.
It is time to buy steem.
Anyone to suggest a solid exchange place to buy steem? This post sounds logic...
https://www.poloniex.com/exchange#btc_steem
I'm buy here.
Great post!