Last week was a very disheartening week in the world of crypto, but is it going to get worse? So far this year, we've seen record highs in early January, and the markets have slowly slid down since then. Two weeks ago, it looked like we were on the way back up, then last week happened.
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It was a rough week, especially for Steem and SBD.
Steem lost just over 21% last week. A huge drop.
SBD had a very bad week losing over 28%.
The good news is, it might be a great time to buy, but I thought that a couple of weeks ago, but the market continued to slide.
The one constant in crypto is that nobody can predict this market.
The coins that were most resilient during last weeks drop, still lost a fair number of percentage points. Bitcoin was down 10%, Ethereum 9% and NEO was down just 5.5%.
Out of all the cryptos in the top 20, other than Tether which doesn't count in my eyes, went down aside from one... Litecoin. Litecoin grew last week... only 1.69%, but considering how much all the other coins dropped, it was a great week for Litecoin holders.
This week, I'm really hoping for a good week. That's really all we can do is hope. After all, Steemit the platform saw growth last week, but still lost 20%.
I'm not worried though. The market is weird... that is the best way I can describe it. For short-term traders it is a nightmare right now, but I'm in a strait holding and accumulating pattern.
I'm pretty confident things will go back up again. I don't know if it will be this week or next month, or this summer, but they will go up again. Just hold on, things will get better.
Let me know if you think the market will have a good week this week?
Are there any coins you are buying now?
Let me know your thoughts in the comments below.
I suppose everything is relative.
Steem has been bouncing up and down within a $2-$3 USD range mostly (early January jump aside). Every other crypto has been rollercoastering (new use of the word—I'm claiming it :) ), in many multiples of that.
(How you keep from losing your mind with Bitcoin is beyond me, unless you managed to get in when it was as low as STEEM is now. For me, that might actually make it far worse).
If someone is looking for a "stable" crypto, STEEM's got to be a primary candidate, right? It hasn't been immune to what seems like some pumping and dumping, but in the end, while the percentage of the ups and downs need some help, the overall USD difference is not so bad.
The only stable one this week was Litecoin. I agree with Bitcoin, but I got in between $2,300 - $4,000. I bought all of mine then. I sold a lot around $19K, and bought up other coins. It might be time to get some more BTC. It is tough with the pumping, but I'm holding on! have a great day, buddy. And a profitable week.
The difference between the dead and the living is hope, so lets just hope steem/sbd will go up again this week....Thanks anyway for such an amazing. How is daddy? Hope He is now bouncing in the Lord?...
Thanks for asking. He is doing ok. He is in a clinical trial, which is great and has had two treatments. We are hopeful! Thank you!!!!
That's good to know. I await your testimony about daddy's health. Tell daddy that Erris Loves Him and will continue praying for him.
The overall market was down and looks to go toward a bearish way, but we'll see an upswing soon I believe.
I hope so... I thought the same thing 15 days ago. :(
I was wrong... I hope you're right!!!!
Have a great day and you got a new follower.
Well, with all the regulations that are happening, it only gives more legitimacy to cryptocurrency. So yes, while I do see more bearish trends, overall I see a bullish trend.
Thank you for the follow.
I am torn between wanting to believe it is about to bounce and buying or knowing it is still going to drop snd waiting to buy.
lol, me too! I'm just trying not to look much this week. hahaha
Have a great day, bud.
Everything will get better. I believe it is just a temporary drop. I would even buy Steem at the moment. :)
I agree, I'm hoarding SBD right now waiting for a bounce. Have a great week Martina.
Don't worry brother,
Ups and downs are the part of life,
Be a hodler :p
I'm-a-holder. lol All I can do. Have a great week, brother!
That's what all the hodler could do this time :p That gif is making me laugh :p
I think the overall market is setting a pace, when btc goes sideways we will see alts getting good value.
I see the whole market being closely tied to Bitcoin for a few more months, swinging from $8000 to $12000. The recent panic sellers and the wait and sees slowly becoming less effected by all the smear campaigns going on.
And then mid year some pivotal moment that clearly defines a working use case for one of the coins like ADA or XLM, and everyone waking up to what the real value of the market will be in 5 years time. Boom another speculative run. Only this time no one's going to listen to the bank's when they say it's all a scam.
Tether fallout to have a little fud-dip impact at some point. But not the bloodbath some are saying.
But next week, not a clue atm 😀
I would like a good week as well, or a good year...either one, lol! Thats the funny thing about crypto... Im extremely bullish about Steem (and crypto in general) but in the back of my mind im like..come on...do something!
Oh man I've been slacking off for a week! Thanks for the quick heads up, I do agree with you on this being a great time to buy. The numbers pretty much speak for themselves.