We are in a super bear market!!!!!
I always get asked "When is the best time to buy crypto?" To be honest that question can be answered in many different ways. It all really depends on your situation and the current market climate of the coin you want to purchase. If you are reading this than most likely you are interested in STEEM.
Right now almost every coin in the market have suffered more than 60% loss since the beginning of 2018. I'm not sure of we have hit the bottom yet because there is definitely a lot of room to fall. Some of these prices are just too good to pass up. Steem at .25 cents is a steal in my opinion. Less than one year ago we were at 8 bucks so there is tons of room to grow.
But how do I buy Steem?
The easiest way is to obtain Bitcoin first. Since Bitcoin was born there are new ways popping up all the time. A couple years ago it was much more difficult to purchase. If you want the safest and easiest way to buy BTC than Coinbase is the way to go. They are FDIC complaint and the buying process is pretty simple.
First you must make an account Click Here Than once your account is created you can link your bank account and debit card as payment methods. You can even connect your Paypal account. The only way that gets you Bitcoin instantly is using a debit card all other methods have a waiting period. I believe it is 7 days but I could be wrong.
Once you have your BTC you can send it to any exchange that has the coin you wish to purchase. In the case of Steem Bittrex is a good way to go. You must have an account and complete KYC (Know Your Customer). If that is a problem for you than Binance is your best option.
Only invest what you can afford to lose!!!!
If you have been watching crypto videos than you have probably heard this saying a million times. Trust me this is the most important rule of all!!!! If you don't follow this rule than you will regret it in the long run. It's better to be safe than sorry. So what is the perfect amount? If you lost $100 in the next ten minutes how bad will it affect you? Will your wirld be turned upside down? If so than 100 is not the right amount for you. Keep going down until you get to an amount that you could bare to lose and that is your sweet spot. You might have to sacrifice getting that coffee in the morning but that should give you at least 10 bucks a week you can invest. Which is about 40 Steem. If we get back to $8 Steem than that same 40 steem will be worth $320!!!!! Turning 10 bucks into 320 is pretty insane!!!!! If course there is no guarantee that this is going to happen but I think it's a risk I am willing to take. If Steem goes down to 0 I will be out 40 bucks a month which is not the end of the world. Everyone's situation is different some can afford to invest 200 a week and some maybe only 5 dollars a week. The point is that it doesn't matter the amount what matters most is the price you buy in at.
Steem isn't the only coin on sale!!!!!!
Basically every single coin is extra cheap right now including the King of Crypto BTC. So keep your eyes open and don't put all your eggs in one basket. There are tons of great coins that have suffered majors dips. Once the bulls come back to play we should see some pretty big returns on pretty much any top 100 coin that we decide to purchase.
Right now Steem is my main focus but I also have my eye on BTC ETH EOS and some of the graphene coins like Scorum and Smoke. I truly believe Graphene blockchains will take over in the next two years.
When will the bulls come back?
If I knew that I would be a rich man already. If I had to guess I would say that we will be in bearish trends for at least the next 6 months. I think BTC will be at around 10k by the end of this year. The Halving 8s set to take place 2020 so I would say some time during 2020 we should see some major moves up bringing us past all time highs by 2021. So basically that means 2019 is the year of accumulation. I could be completely wrong and the bulls could come back to play tonight. This is just my guess based on past market performance. Bitcoin seems to dictate where most of the Alt coins go.
This is not financial advise do your own research!!!!
I am no professional so don't take my word as gold. At the end of the day you must make decisions that is best for your situation. If you really want to get a nice stake in a coin this would be the year to do so!!!!! Have fun and invest responsibly!!!!!!
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