What would happen if everyone knew that Bitcoin was doubling in value every year? They would buy Bitcoin! They'd buy a lot of bitcoin! So much Bitcoin that it would go 12x! But now, Bitcoin is overvalued, so for the next year the value of Bitcoin declines back to its base x2 fundamental support value.
The reason why doesn't matter. Futures markets don't matter. ETFs don't matter. Greed doesn't matter. The fundamental value of Bitcoin and blockchain is not going to increase because of "institutional money". If anything it will hurt it, because institutional money is corrupt and centralized. However, I highly doubt this because blockchain will be able to leverage that dirty money to do something great. It's all evening out.
x2 x2 x2 x2 x2 EVERY YEAR!
I've been telling people this and they think I am fucking out of my mind. They are going to make the safe play. The play where they work a job that extracts as much value from them as possible while giving back the least possible; a cog in the mechanized corporate ladder.
This is not a safe play; this is the slave play.
I wish more people didn't want to be slaves.
I wish more people knew they were slaves to begin with.
It's almost been three months since Steemit laid off 70% employees. This is the same as going bankrupt by corporate-world standings, and not much happened to us as a platform in the wake of this devastation. The more in danger we became, the more the diehard fans of Steem fought to keep it afloat.
Now, 11 weeks later, accounts looking to exit had more than enough time to do so. Yet, the base value of Steem has been ascending ever since mid December, mirroring granddaddy Bitcoin, implying that the news of Steemit losing 70% of its employees and all the drama of the Steemit account powerdown didn't really seem to affect our price action nearly as much as one would assume.
If anything, this bad news was only suppressing the value from going up, not pushing the value down.
200 million coins are still powered up.
Now we are approaching a new stage. I believe crypto will be in a bull market for another three years. I think by the end of this year Steem will be 80 cents and Bitcoin will be $6400.
| Jan | Feb | Mar | April | May | June |
|---|---|---|---|---|---|
| $3467 | $3733 | $4000 | $4267 | $4533 | $4800 |
| July | Aug | Sept | Oct | Nov | Dec |
|---|---|---|---|---|---|
| $5067 | $5333 | $5600 | $5867 | $6133 | $6400 |
Stay on Target!
Now that Ethereum has bumped up a bit, the CDP of my Maker loan's collateral increased in value. I've leveraged this gain into taking out a Dai loan and buying 470 Steem with it. If the value of Ethereum declines to $110 without me adding collateral to it, it will be liquidated. This has happened to me once before and it's not fun. Although I won't be making the same mistake twice.
In the wake of all the new projects happening on Steem and my obsession with @drugwars, I've decided to continue moving all in on the Steem blockchain. The time for purchasing products out of speculation is over. It's time to put up or shut up. I'm going to buy the product that I'm using. Right now that product is mostly Steem, but a little Binance, Maker, Bitcoin, and Ethereum.
| Steem | Binance | Ethereum | Bitcoin | Maker | Other |
|---|---|---|---|---|---|
| 75% | 5% | 5% | 5% | 5% | 5% |
This is my new spread for investments. I won't mess with any of my old investments but this is how my money is going in this year.
SBD liquidity is low and I believe Steem will regain the #32 position on the market cap. In order to do this it would have to gain 62% value while everything else stood still. #bullish
Steem On!
Return from Invest In Crypto; Double Up Every Year. to edicted's Web3 Blog
