Anything Below $5 Is A STEAL For Steem - Aim To Reach 10,000 Steem Power And Keep Going After That!
$5 USD is an amazing deal for Steem but anything below that is an absolute STEAL! It is not going much below that ever again! I just picked up some more when it dipped to $4.75 and my aim is to reach 10,000 Steem Power! I think that if you can reach 10,000 Steem Power, you'll be a millionaire within a few years. I truly believe that with SMTs (https://www.smt.steem.io) and the success of them that will come from Steemit's HUGE following, that the price of Steem will reach $100. If you have 10,000 Steem Power at that point, you're a millionaire. I power up with all of my earned SBD except that which I use to promote my posts. I recommend using a similar tactic, with the caveat that I encourage the use of transacting in Steem for goods and services through tools such as @steembay, which are absolutely wonderful for the Steem community and economy!
If the price is $5 or lower, I would heavily consider taking a fair amount out of other investments and holdings and powering up. I won't regret it and I doubt you would either, because I think the fundamentals of this platform and blockchain (from the perspective of looking at it as a business) are killer! I will be buying and powering up whenever I have extra liquid funds until I reach 10,000 Steem Power and then I will keep on going. I love this platform, everything it represents, and I love the future that it is bringing to the people of the world. Only risk what you can afford to lose, but within those bounds, give it your heart! :)
Definitely have to buy the dips! Many people would be upset when the price drops, but we should be happy for another buying opportunity!
With cryptos, as with stocks, "low" could always become "lower". But there will be times when we should just force ourselves to be brave and buy.
My general strategy with cryptos is this - Averaging. Since we won't know what is the "highest" and "lowest" price over a certain period until after the fact, the best that we can do is to average the price.
At the very least, buying STEEM at the current price is definitely better than buying when it was at the highest several weeks ago. But no matter which direction the price goes after this, STEEM has real utility. Here and now. Unlike those other coins and tokens which boast about wanting to 'revolutionize', 'disrupting' etc., Steemit is already doing that. STEEM is a genuine investment, not speculation.
Amen to that! The following and interaction of the followers is proof enough of it's strength! :)
I wish it could rise more and more
I believe it will over the longer term. But it won't be in a straight, upward line. There will be dips, as we see now. Sometimes sharp ones too.
As with my comment here, "averaging" is the way to go.
I am doing the 50/50 split on my posts for now, unfortunatley being unemployed for 6 months and in the hole for all of that time makes it to where I need a little to catch up. Once I can catch up, I am going to put everything into SP and HODL!!
Completely understandable! Your livelihood and bills have to come first for sure! :)
I wish it could rise to $20 soon
Sound logic! Best of luck!
@biddle sir I totally agree with you rich are rich because they take everything oppositely to that of poor whenever price falls rich buys and maintains avg price of each coin whereas poor just sell and take loss .....Just the approach makes you rich or poor ...thanks for this article !!
You're very welcome and absolutely right (keeping in mind that it only applies to investments with good fundamentals)! "Buy when there is blood in the streets, even when the blood is your own." -John D Rockefeller
Damn nicely done, I feel skeptical buying steem power, but you just encouraged me to buy more
Very true, also anything below $7 for SBD is a rip off :)
Thank you @biddle! You are my 'protector' and 'guide' here! I am a complete beginner about crypto currencies. So, please advise me what the right thing to do at the right time.
Excellent post and advice!
Upvoted and resteemded!
Cheers.
I'm happy that I've been helpful! :)