RE: Steem Price Is Dropping Fast. Is This Rock Bottom? What Do You Think?
I think the answer is, it can certainly get lower. As to whether or not it will, I don't know. If someone does know, then I think it's either follow their lead, or figure out how they can possibly know because unless they're the one causing it to do what it does, which seems illegal and certainly unethical, that's a crystal ball worth figuring out.
I've thought about selling some STEEM a couple of times, but that's just my own financial pressures, not the price of STEEM or crypto in general. It would be a horrible time to sell. Not when historically December and the first quarter of a year sees prices take off.
Bitcoin Cash is hard forking, and so apparently this is another opportunity for things to tank. And who knows what the next opportunity will be. I would say, it's probably time to buy for anyone who was waiting for prices to drop. Here they are.
That's the thing: it all is still highly unpredictable. A month from now, Steem could be worth 1 cent, or 10 Dollar... same for the other cryptos.
Blockchain tech is undermining a lot of people/companies with a lot of influence - it's in their best interest to do what they can to stop people from investing. To scare them off. But I believe the technology has too many possibilities and at one poiint the resistance will break. Could take 1 year, could take 10 years, who knows...
From my previous investments I learned to not buy on the dip, because you never know if the dip is the real dip. Lol, I bought Steem fof 98 cents, for 2 Dollars, for $4 and I don't really want to think about the other prices I paid. Every time, everyone said it could only go up. If I buy extra, it will be at the start of the bull run. You never know how much lower it could go....