Steem Price Is Dropping Fast. Is This Rock Bottom? What Do You Think?
Steem price is dropping fast, in spite of the huge amount of activity on the Blockchain. Is this the ultimate drop before a huge bull run kicks off? 🐃 Or is the crypto market bleeding to death? 🚫
I'd like to hear your thoughts.
Is this rock bottom or will it get worse?
And even more important: are you buying or trying to get out as soon as possible? 📰💰🐻
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simplymikeonsteemit
This post has receive a 25.00% upvote.
I bought yesterday after the dip. Will buy again if it goes lower.
I have been too busy to be on. I have not bought any steem and was going to once I had time. There are new programs out on EOS that are both doing well and not so well. Some companies on blockchain have such great potential and taking off like crazy in price even before the companies "officially" launch. EOS once was at 14.00 I believe 11.00 for sure and after it launched dropped to just over 5.00. If the same happens to these other companies all those who jumped in could lose so much. Yet if it does go you could win big time. How does one know about anything any more? I look at the board of top BP and see so much manipulation with bitfinex. Is steem dropping do to a lack of activity? Due to the bots controlling too much? The difficulty to get up and going for us noobs? Has the low price chased investors elsewhere? Is it due to so many "sister" chains on Steem? So many variables. I would love to understand. Steem is a nice way to earn while sharing info but the truth is so many are here to earn while they share/blog. Is it really worth it with having to learn a new system and trying to get your info out there to get the numbers up to really make it worth your while? Anyway just some thoughts I had when I started and since the low price makes me wonder about why people are really here. The average joe who could benefit from what we want to share, well this program just does not cut it for them.
That's the thing: you can't predict anything when it comes to crypto.
As for Steem, the Steem blockchain was the busiest of all last month, so I don't really get why the price has taken a bigger hit than the other cryptos. Definitely not by lack of activity...
I definitely should pay more attention to EOS. I have invested in it, but so far I've ony heard a lot of promises, but seen very little. I'll need to inform myself better, because I don't have a clue what's going on on that blockchain, to be honest.
And SteemIt....
This low price will at least wipe out the people that don't get that it is more about the community than about the money here ;0)
It looks like EOS took a major hit as well. I have never seen it this low. The circle I follow with EOS usually stake it with various companies and then they can pick up "free" tokens via airgrab. Two companies doing well right now are are Karma and Worbli. Not sure the value but those who stake with Genereos pick up, Poorman's tokens. Genereos is one of the block producers in the top 50 and they contribute a lot. Check them out. https://steemit.com/@genereos
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One can hope....because if it isn't then 0.25-0.30 is the next stop...
Is it?
How I'd like to understand all those stats and analyses. I tried to, for more than a year, but that part of my brain seems to be underdeveloped, lol. So I gave up and I am now relying on other people's analyses. Which, btw, worked out pretty good until this crazy bear market started.
It might even go below that... for all we know it could lose all its value, although I doubt that will happen. I think no one saw this coming a couple of months ago. I don't remember what the price was when I started here, just before the magical bull run of November/December last year, but since I found Steem and SteemIt because I was looking for intefesting, low-cost crypto, I assume it wasn't more than a Dollar...
I believe in blockchain technology, so I HODL. Things will turn around some day...
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....
This post has received a 15.00% upvote from @teevmoore!
Hey!
I wondered if this was the final move before a change in trend, but I don't think anyone can say for sure.
If only I had some fiat!
I'm absolutely not an analyst, but from what I read it could probably get worse before the kick comes. It will come, I'm sure of that.
Everyone is panicking because of BTC going under $6000, but to me that's still more than 6 times what I bought it for 2 (or was it 3?) years ago. Same for Steem. I wasn't around yet, but I hear it used to be at 7 cents not so long ago...
The only thing that bothers me a bit is that the Steem blockchain is the busiest of all, still Steem took a bigger hit than the other cryptos...
Anyway, 7 cents or 7 dollars, I'm not going anywhere. :0)
I am not buying any, infact i sold 100 yesterday. But i will keep on accumulating more in SP.
Selling now would mean a huge loss, in my case. So I take my chance and HODL. If I buy, it will be when the prices are going up again...
I am not putting any more money in crypto anymore. Just going to mine more with my stake.
We still have a loooooong way down to go. We are all just spoiled from the last run. Well, I am not. I missed that one so I need it to drop a whole lot more so I can catch up with everyone :)
Lol. I am spoiled. I bought my first crypto 2 years ago, and it has only been going up ever since. The value of BTC today is still 6x of what I paid for it. I suspect prices will go lower indeed, but I'm also pretty sure that at one point, they will go up again. So it's just a matter of being patient.
I am always the village idiot. I did not get into any of this till I got on steemit in late January of 18. It has been a shit show since I started. I don't even know what to do if we finally had a good run.