I agree pullbacks like this are a necessary and natural part of trading cycles for anything whether it's stocks, commodities, cryptos, or anything else. They're pretty extreme and fast in the crypto market so I can understand why people would panic sell but I'm not doing that...

I'm actually happy to see STEEM has stayed in the range it's in right now because I'm making intermittent buys until it goes higher than I want to pay per coin. It was a little bit disheartening to see the blood red day today in the crypto markets in general, but I used it as an opportunity to add a bit of Ethereum, a decent sized chunk of EOS, and a little bit more STEEM (bought STEEM today and yesterday).

I suspect the long dowtrend in STEEM started back in early summer when people decided to take profits and some of that required powering down which takes 13 weeks if I'm not mistaken. Here we are 13-14 weeks after STEEM hit its high for the year and it's levelled off the past few weeks. Go figure.

I also agree right now is not the time to be selling STEEM unless one needs to in order to survive.