Get Low

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Have you noticed anything interesting about the crypto markets lately?

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Many comments have been made about this time we are experiencing. We may be seeing the final shakeout. We may actually see new historical lows for STEEM. Can it break below 10 cents? It never has before!!

I have watched steem bounce twice now against it's 10 cent door stop. I cannot predict the future, but I may have found a magical money door.

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Trading is like gambling, except without explicit odds to bound your risk

While the crowd talks about BTC price in dollars or laments the STEEM price in dollars, I think I have picked up what smarter people must have been on to for a while - there is a separate but significant relationship between BTC and STEEM, and it relates to what they are both doing with the dollar.

It is my hypothesis that STEEM doesn't have enough wind to chart its own path yet, and so it is really the lagging indicator for BTC price movements in dollars.

Courtesy of @CoinGecko; BTC left, STEEM right.

The STEEM chart is harsher and more jagged, but this is just a result of it much smaller market cap and lower liquidity. Take careful notice that THE ENTIRE STEEM ecosystem is valued at under 40 million dollars right now (by marketcap).

It is also important to notice that there is virtually no distinguishable difference between these two charts. There is no obvious moment when STEEM goes one way and BTC goes another. This is only 7 days, but let me assure you, its been like this for a while.

What then shall we do?

I won't directly reveal the bounds within which I am trading - or the signals that I have developed to do so, but for those of you who are still here, may I recommend laddering in one way or the other?

I believe these moments will be remembered as important. For how long have we said if only we could buy STEEM at all time LOWS? The real question is: would you do it if you could? Because we can. Right now.

I may be wrong, and we may go lower still. My ladders will be waiting.

This is not financial advice! If you are looking for some look somewhere else! This is an expression of my journey, nothing more!

If, after making your own decisions, anyone needs help executing - feel free to contact me on discord @ecoinstant#9078 or here in the comments.

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21 comments
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Thanks being awesome NBC holder! Your 44.50 NBC earned you 6% team-cn upvotes！

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(Edited)

Hello! Would you please check and see that I have a 1000 SP delegation to earn 25% upvotes? I am powering up the NBC to check out those daily dividends.

Thank you!

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Fixed the vote. The api node is not stable so missed the delegation.

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A bonus $trendotoken tip from ONECENT!
Also consider MAPR fund and MAXUV vote bonds too.
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You have received a 0.3% upvote based on your stake of 165.35797259 UFM!

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Hi @ecoinstant, a modest tip of appreciation:
$trendotoken
Thanks!

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Ah, interesting! And I agree that this may be the best buying opportunity we will ever see. I’m not sure what laddering is, though. Is that something I can look up?

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I am trying but its only working marginally....

I learned this from @haejin originally, but it makes a lot of sense. Don't just take what the market has to offer, but set your buys/sells like rungs in a ladder, and as the price moves up and down these rungs act as triggers.

I believe the technique is called laddering (at least by me anyways!), but oddly enough I say 'my ladders' and not 'my rungs'. Anywho - Here is the original article that taught me, I know some people find this guy distasteful.....but either way laddering is a good idea 😅

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Hi @ecoinstant, a free $trendotoken from the TULIP Mania Game!
Round 3 will start soon and full details will follow. Thanks for playing!

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Okay, so you mean when BTC goes down (compared to the USD) it draggs the STEEM price down too, and when it goes up, it pulls STEEM with it? Hasn't that been the tendency for all the altcoins anyway?
By the way, I remember Steem being at seven cents, a couple of months before I joined. Only three months later it had climbed up to $2.50, and that wasn't even the all-time-high.
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Yes and!

The dynamics that I am seeing work really well with the ladder. When btc falls, it does drag STEEM, but how? In my experience in these squeezing moments are when the arbitrage happens.

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I don't know... just right now I've been looking at the charts of this year, particularly since June, just to shake this weird feeling that BTC takes STEEM along on its downward turn, but it doesn't pull it back up. I don't think I've managed to entirely get rid of it.

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Hi @ecoinstant!

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As a member of the @Council - Community Curator Service, this post has received a 100.00% upvote.

Members of the community can all chip in to Power UP. Become a member, delegate 10 or more Steem Power (SP) to @Council to receive upvote and resteem. Here's the link to delegate https://on.king.net/council10sp it will redirect to Steem Connect for a secure connection. We share the Steem Power of all members that delegate to Community Curator Service, sharing our SP for a stronger upvote.

Thank you.
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