The past few weeks Bitcoin has gone down quite a bit even below $6,000 at one point. Although this looked pretty bad anyone who has been holding Bitcoin for any considerable time now knows that it’s only a matter of time before it goes back up.
This is what happens, last year Bitcoin reached very high heights even going as high as $20,000. Without any kind of significant drop-off it was just a matter of time before the price would go down which takes us to where we are today. Over the past few days we have seen a bit of a rally going on.
Bitcoin has now slowly been climbing up to $6579. This is a good sign and whats also a good sign is that each day it is slowly rising.
Because Steem is influenced by the Bitcoin market it went down in value as well sitting roughly around the $1.20 -$1.30 mark. I went ahead last month and bought my fair share of Steem because I know that the more Steem I have the more I earn.
I also know my previous experience that the chance of Steem staying that low for a long period of time was slim. Last time Steem went low I missed my opportunity to get some Steem Power for a really low price, I didn’t want to make that same mistake again.
Fast forward to a week later and Steem is sitting around $1.60.
Not too shabby, we are getting there…
Hopefully prices continue to rise but overall in the end powering up and earning more Steem should be your number one priority if you want to really strengthen your cryptocurrency investments in the long run.
Remember, the more you have the more you will be covered in the future.
Anyways, that’s it for this quick post, just wanted to comment on what’s been going on in the markets lately. Let me know what you think in the comments below!
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