Updated 9/7/20 - Pro Tip: When she bottoms out, BAT, Tezos, and XLM will likely have held their worth better than most and Tezos is at a particularly good investment point - unless, of course, Bitcoin is in a nosedive; in which case all bets are off.
However, I am seeing that weak market resistance starting to wear, so I feel the bottom is near.
It seems the whole market has fallen victim to a lot of fear. However, I see nothing but opportunities about to happen.
I believe the final dumps will happen in the next 72 hours or so. I plan to invest at what seems like the most crucial point.
I am abandoning Ethereum (ETH) and ETH based tokens. I am even temporarily cashing out of Basic Attention Token - but very temporarily; assuming ETH figures their **** out!
The gas fees are too ridiculous. We need functional coins and tokens, not coins that cost more to use than they are worth.
In fact, I abandoned everything but Bitcoin and Stellar Lumens as the market is back to heavily correlating with BTC and XLM is the best for fast and cheap transfers, second only to Nano.
I am not holding much of anything at the moment, except USD.
The market will drop again; it is shockingly weak. That is my opinion.
So now it's a patience game, a luck game, well - I don't think it will last that long. With everyone waiting for money, who has time to waste?
I know I don't dig having to constantly watch the market for opportunities when I am busy, so I recommend you do what I did and set some really low limit buy orders; once in a while they clear.
We saw Bitcoin drop below 10k, again. It's a hard number to hold and a hard number to break at the moment, but what goes up must go down.
I believe what is happening is the dual-bull run that Bitcoin and Ethereum had earlier on during COVID has come to an end because of Ethereum's outrageous gas fees.
The altcoin season suffered as a result of both coins tanking at the same time which puts Bitcoin back in complete control of the market outside DeFi. DeFi itself is now correlating more heavily with BTC and I am hearing a lot of crickets from the DeFi-Pump community.
I say it's time to capitalize, well - almost time!
So, watch the market closely folks. The time to get this money is right around the corner... don't let it slip!!
Stay smart & Stay Safe everyone.
Questions and comments are always welcome.
P.S. Shouts out to the Publish0x Team - Thank you for paying outrageous fees to pay us. I highly suggest you switch to Stellar Lumens or Nano, I'd be happy to accept either; none of us can thrive if we obey Ethereum's gas rules.
Oh, and happy Labor Day weekend to you folks in the USA!
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