Steem in Freefall and A Slight Change in Strategy

I woke up to a bit of a shock this morning, as many of you should be able to relate to. Steem lost an insane 10 cents over night. And it is showing no signs of stopping as I type this. The market have decided the short term direction and, barring some sort of miracle, the highs of this year should remain unbroken for the rest of 2018. Staggering how price has fallen so much but then again, this ain't no game for weak hands. The words "balls" and "iron" spring to mind.

So I bought up some Steem at 60 cents a few days back. All good, that's money banked away as far as I'm concerned. So I recall in a previous post saying the next time I'm jumping in again would be around the 30 cents mark. A nice balance to even out risk and maximise on this opportunity by scooping up some cheap ass Steem. But, after some discussions with the wife, we may tweak this strategy a bit.

Instead of going all in at 30 cents, we may stagger the levels out. Meaning, break it up into possibly three parts and go in accordingly. Basically buy in every 10 or so cents on the way down. Coz I'll tell you what. I don't trust these markets. Not one bit, in fact. The reversal could come outta nowhere and many of us will be left standing with our dicks in our hands, watching as the crypto market catapults like a bat outta hell into the stratosphere. You just never know. It happened once and it will happen again. This bear market has lasted quite some time now for Steem and we are literally running out of room to the downside.

So, putting in a little at a time seems to make more sense. I've been noticing people going in hard with buying up Steem. Most of those individuals who did so I am already familiar with in some way or another. These people always "got" the value of this blockchain and won't let these price fluctuations, no matter how major they are, get in their way. Respect where respect is due. I'd like to think I'm of a similar mindset. Especially after coming back from Steemfest and witnessing firsthand the innate power of our community, development and technology. The way I see it, this is an extremely welcome gift presented to all who wish to capitalize on growing our Steem account.

That's where I'm currently at and scooping Steem is the order of the day. Selling "any" crypto at these levels right now is tantamount to confused hysteria. After all, the sky above is wide open and I'll be refuelling that rocket ship. Any time now, big daddy! :)

Hope you enjoyed this post, please look out for more on the way... (author: @ezzy)