STEEM - Probably a good investing buy at this point.

If you recall one of my early EOS posts on "How to be a millionaire," I detailed that owning 10,000 EOS could potentially make someone a millionaire within a 5 year time frame because there stood at least something like a 20% chance in a 5 year time frame that EOS could hit $100 each. When EOS really got going it did reach up to $20 briefly, which was part way to the target I had set. In either case, I did give it 80% odds we would end up with decent profits buying EOS down around $1 each.

Notice in that post that I started buying it at $1.20, and bought again at $0.80, but it kept tanking down to something like $0.50 in the end.

This post today is similar to that $1.20 post I made back then, except I am not saying Steem will go to $100. My long term target is more around $10 to $20, in a 2 year time frame.

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Steem will probably go down more

Personally, I am not pulling the trigger just yet, even though I think pulling the trigger for one phase of buying right now with Steem at 1.10 would be fine. I am waiting for the BTC decline from more disappointments with ETF rejections. I want to see what price comes in at from those news events. Maybe you wait for 1.00 again, it will probably reach it soon.

Cost averaging down is the type of strategy I am suggesting here. A person picks a level like 1.10 or 1.00, buy maybe one fourth of what they're willing to buy. Then a person might buy another level at 0.90, and another at 0.70 if it ever got that far. This is just basic cost averaging down which is a long-term investment strategy.

In this scenario, I do not think historical price support levels matter because Steem has been hammered hard through what would normally be support levels for other cryptocurrencies. That said, I personally expect the price to remain above 0.60 depending on what Bitcoin does.

What is great about buying Steem around $1 this time around is that the higher-end price constraints have been weakened by the late 2018 rally to $10.

In the next major rally when crypto gets going again, I would anticipate the market would choose a higher top than before for Steem. Meaning, when the rally begins price should soar quite easily.

When will it soar?

Buying in a cost-averaging down strategy at this point, a person should anticipate that losses are possible into late 2018. I hope the market picks back up before late 2019. So there is no point buying unless you can sit on it 2 years. If you're not invested in crypto at all, this situation could be a good starting point, I think.

One of the reasons we would expect it to soar in the future is that SMT's will eventually launch sometime. Even without SMT's, Steem is a solid platform that is seeing innovation such as DTube, DLive, ect. That said, I expect SMT's to complete eventually, and it will provide a boon to the platform.

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by crypto-investor

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