Freewrite #8 - Everyone is writing about STEEM Price

For the past few days, the crypto market is not doing well. The impact is seen in STEEM price as well. By now you would have read several explanations for the price fall from various people. If I go to read some random posts, I see lots of posts about STEEM Price. I thought why not write on the same topic. Everyone is interested to share their own perspective on things. I'm just going to follow their trails and I'm not going try and be a different person in that aspect. It is true that STEEM is not doing good for the past few months. Comparing to the bullish trend that we had a few months back, the STEEM price is getting lower day by day. The price declining can also be dependent on the other cryptocurrencies in this crypto world. The most interesting aspect of this decline is that we have not seen the price go below 1$ yet. While thinking about this, I had few questions in my mind. Please continue reading to know how I answered myself to those questions.

Should we power down?

Many whales have been powering down for the past few days. I heard that Ned is also powering down. Even though we don't know the exact reason behind it, it may be a sign of further fall in the price. People usually panic when big guys exit from the market. Even though it is a good strategy, the crypto world is always unpredictable. When it comes to STEEM, I see a lot of opportunities in STEEM blockchain. Though STEEMIT as a website has not seen any update after the initial update, the STEEM blockchain is seeing continuous changes for the past 2 years. There are lots of cool features being introduced for the developers. The guys who developed this blockchain are definitely busy in doing bigger things. So in all ways, we will be able to see a bright future for this decentralized content platform. But we still have to worry about something. If the value of other cryptocurrencies, especially BTC reduces, there will be an impact on STEEM as well. So we will be able to see the continuous downfall. But it is not the end of the story. As we have so many business dependents on BTC now, I don't think there will be an end for it soon. But let's just wait and see.

So, according to me, I don't think it is a good idea to give up on STEEM. Though it may not be a good idea now to convert all your SBD to STEEM, powering up may not be highly significant but you can still do it.

Is it right time to invest?

As mentioned in the above paragraph, there is definitely a bright future for STEEM blockchain. The blockchain has sustained for more than 2 years now. There are no obvious reasons for the blockchain to sunset now. I find this to be the right time to invest because we may not again get STEEM for such low price. Yesterday, for example, People who bought STEEM for 1.05$ and sold it for 1.30 $ in few minutes would have seen a huge profit if they had done it in bulk quantity.

I currently don't have enough money to invest in STEEM. If at all I'm able to arrange some money, I will definitely buy some STEEM and power up. This will definitely give us fruit later.

Should we stop writing?

The next main concern is about writing. People who are already whales or dolphins may not have any problem. Though their reward will also have some impact, the most affected people are the low SP beings in steemit. People who have not yet crossed 15 base SP will now not even vote for 0.002 $. Their vote value will currently be around 0.001 $. With this, they may not add any value to anyone's post. I have seen lots of people stopped contributing articles. Some people have moved from lengthy posts to short posts.

People are comparing today's condition with that of the days when STEEM price was over 5 $. When steem price was high, the reward distribution was also high and people were able to earn decent amount on their posts. But now with the low vote value, people are finding it difficult to earn a good payout from their posts. For people who have this question in mind, my answers are as follows:

• I feel, if your reason for being here in this platform is to contribute good contents and make good friends, then you have to continue writing.
• If your intention is only on the money part, then it can be highly challenging to survive in this platform. Irrespective of STEEM price being high or low, the challenge can continue.
• If you try to stop writing now and think of continuing later after the situation settles down, you might lose consistency and end up losing good followers.
• If you are not consistent in writing, your followers and friends in Steemit might forget you unless you engage with them regularly in discord, telegram or other chatting platforms.
• If you are someone who use bid bots to boost your posts, you might end up in a severe loss if you don't choose the right bot now.

So I finally think that you have to continue writing irrespective of being rewarded or not. This will make you consistent and persistent and confident. Share your views in the comments section.

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