Hello, steemit people! Welcome to my page!
I should start this post by saying that I'm not an expert on cryptocurrency, just an observer with a few thoughts.
As most of you know, cryptocurrency is a volatile investment medium, it goes up and down a lot, and some of the swings can be pretty dramatic. The stock market is almost never as volatile as the crypto markets are. This week is a good example of how the crypto market fluctuates. Crypto values have been on a downward trend for the past several days, after being somewhat stable for the previous week or so.
I follow Litecoin and steem the most, those 2 cryptos are what I'm interested in. I follow steem and ateem based dollars because I'm using the steem platform, and I follow litecoin because it's one of the better coins to use if you wish to exchange SBD for fiat. It has very low transaction fees as compared to bitcoin, and is handled by most of the exchanges. For market values, I tend to follow coinmarketcap dot com's price feed.
Lite coin was doing ok as far as value stability is concerned for the past week or so, it was above 200 U.S.D. for the past couple of weeks, it was up around 212.00 at one point a few days ago, but now it's on a downward trend again, along with the rest of the market. According to coinmarketcap dot com, it has dropped to 180 dollars and change right now, not a good time to be trading for U.S.D.
The steem and steem based dollar values have been on a downward trend also for at least the past week or so, which affects the value of post payouts on steemit. I believe the vest shares stay the same, but I could be mistaken about that. Perhaps someone can answer that question in the comments. It seems that the values of steem and SBD have been playing tag with each other for the past couple of weeks, with the value of steem averaging about 90 to 95 percent of the value of SBD. That makes converting SBD to steem to power up a bit less attractive than it was a month ago, but it's still a slight gain. Sitting on the SBD and waiting for a better price ratio is not a bad option right now. Of course, it is possible that the value of SBD could go below the value of steem, that has happened periodically. At that point, it's best to just sit on your SBD and wait rather than trading them for steem. At this point in time, steem is worth about 2.78 U.S.D., a fairly sizable drop from the 3 dollars and change from yesterday. The value of SBD is still above the value of steem at 2.96, so there is that anyway. Of course, these numbers are subject to change on a continual basis.
As for trading SBD for litecoin, right now the the ratio is about 60 to one, not a good time to trade SBD for litecoin. However, if you have litecoin that you wish to trade for SBD or steem, now is actually a pretty good time to do that, a few weeks ago the ratio was about 45 to one. Now is also a good time if you were wanting to invest U.S.D. into litecoin or steem because the price is down. What is that saying for investing in cryptos? Buy the dip!
Of course, the dip could get deeper, I have no way of knowing at this point, I don't predict the market, I just follow it.
Disclamer, this is not financial advice, this is just my personal observations of the crypto markets.
The picture I used for this post was sourced from the creative commons.
Thank you for reading this post! I hope you found it useful, or at least interesting.
If you like my work, you can follow me for more posts like this, and other subjects.
I appreciate any upvotes you might wish to give this post!
One of these days, I'm going to get a fancy banner for the bottom of my posts! :-)