Who's Still Buying Steem at These Prices? Steem Dipping Under $0.50!!
I usually don't post a lot about trading and the cryptocurrency markets, but today is an exception. Steem has just gone below $0.50 and 0.0001 BTC, which marks an all time low in 2018 for the Steem price.
Needless to say, I'm a little bit bummed out that there seemed to be very little support, to keep the Steem price at an acceptable level.
One thing that we should remember though, is that the Steem price was still a lot lower back in the beginning of 2017. Before the bull run started, Steem was trading at less than $0.30 up until May 2017. We're still somewhat far from that happening again, so I wouldn't worry just yet.
To Buy or Not to Buy?
This is of course something that everyone needs to decide for themselves, but I'm personally not going to be investing a lot into Steem for now. I'm switching over to invest more into Bitcoin, since that's where my roots are and I'm seeing less volatility there as opposed to Steem.
I've powered up to around 3100 Steem Power, which I think is more than enough for now. I need to see some real changes and improvements first, before I invest more. I think this is not too much to ask.
Not that I'm saying that Steem is a bad investment, I just need a little bit more than just promises, to be able to invest more. This isn't an attack towards Steem Inc. - It's just my own common sense that tells me to diversify my investments a bit more.
Conclusion
I really hope that some big investor would come around and notice the potential of Steem. We could sure use a big investment right about now, definitely if we want to keep the Steem price at a decent level.
Until that happens, I'll just keep blogging, even though the earnings really aren't that great any more. Well, they never have been that high for me anyway, so I really shouldn't be complaining.
What do you think about this recent price drop? Let me know in the comment section!
I invested when it dropped to $0.60 but I am not going to invest any more now. I also think steemit inc need to start delivering on their promises before I invest any more. Even though at these prices it is very tempting, I think other coins are probably more likely to gain more in the long run
I always think the best trading advice is: don't panic! It's the ones who panic that sell out at the bottom and buy at the top. The bear market is so frustrating, but as long as you haven't invested your life savings in crypto it's just a storm we have to ride out. That's my attitude anyway.
I thought I'd bought at the bottom, but unless you actually have second sight, no one knows where the bottom or the top of the market is.
The money that I invested in Steem is still earning me more on a daily (passive income) basis than it would if it was sitting in a bank account earning interest, but its value has gone down. That's always the way with investments. Hopefully if and when I decide to withdraw it, or some of it, its value will have increased.
Just waiting a little longer before I pounce and get some more. It will go up again, and I have to switch off the FUD. I guess my response is different than all the others here.
Well that's good, it's people like you who push up the price for the rest of us :P I have to say that I would also be very tempted to buy if it drops even lower. But I really need to diversify just a little bit.
I understand your point of view, I'm not as sensible as you.
I am with you, I think I am going to hold off investing any more fiat into STEEM for the time being. If it drops below that $.30 mark I might reconsider but for now it just seems to big of a risk. I understand I can power it up and hopefully eventually it will make a difference, but as much as I believe in Steemit if the rest of the market doesn't, it isn't going to matter.
I'm not even sure if I would be buying if it gets lower than this. Like I said, I'm probably going to focus on Bitcoin again, these next couple of months.
I hear you. It is hard to not feel like I am giving up a little though. Even though I am not. I guess it is easy to have a different perspective when this isn't my main source of income...
Hey @daan. Good points. I still firmly believe in the FUNDAMENTALS of Steem and Steemit, and if this thing goes belly-up I have always held that it has been well worth the time and experience here. In fact, I will STILL use it even if the price of Steem went to ZERO. Two things I have been thinking lately is to sell some of the BCH that I received in the 1:1 hard fork last year to gobble up some Steem at this low price. After all, the BCH was FREE, and so it is essentially a no-risk investment. Just waiting to see what happens with the price of the two new BCHs after the recent hard fork. That could be an option for you as well. Secondly, I keep reminding people to consider that we are all recieving INTEREST on our Steem, which is something BTC does NOT offer us. So be sure to factor tha interesting into the long-term equation - ESPECIALLY is Steem starts to MOON at some point...
Steem has seen 8 $ per share. Now it has corrected 95%. If you can't see this as a buying opportunity then why are you believing steem. I can't comment on your investment decision.
But understand this use case buying BTC at this point is something vague. As seen BTC has corrected nearly 75% from its all time high. Even though the percentage was differred it has also corrected by a fair amount. The buying point of btc should be at 20000$ not at 5000$ atleast in my view. At 5k$ it needs to be flipped to alts. and even if you check the market dominance, it has been flat over the past month although there is blood bath in the market for the last 10 days. It indicates people are moving towards alts more than bitcoin in this bloodbath. The reason being alts have corrected nearly 90-95% where as bitcoin corrected 75%.
My intention is to get a clear view on the present scenario. But not to change the investment idea. Thank you
I think STEEM is going much lower still, along with the rest of the market. I wouldn't keep my hopes up for big investors either... STEEM is not in the spotlight and hasn't been in a long time so in the grand scheme of things it doesn't garner enough attention for it to be picked out among the others. I think the best hope for STEEM's survival is through it's userbase continueing to use the platform essentially bringing the blockchain back to it's true, unspeculative value. I believe that if the entire market is completely down, but STEEM manages to continue have an active community that will reflect very positively on the platform because it proves that when all the speculators have left there is still value there. I can see STEEM go back to $0.30 for sure.
I am more concerned about SBD though. For STEEM to really work well the peg needs to be maintained.
I'll be blogging all throughought crypto-winter, in any case. As long as I can earn some crypto through STEEM, it will make sense for me to keep using the platform.
Well, it also very much depends on how Bitcoin performs. If Bitcoin drops a bit more, yeah then I can definitely see us hitting that $0.30. I agree wit you that Steem's active user base is one of its greatest assets currently, much more valuable than any sort of speculative investor.
You're right, but I fully expect Bitcoin to fall a lot further and have been calling for it to happen for most of the year. I am waiting for $3000-$4000 to buy in. Could be months away still, because the faith of the last 'hodlers' that entered in 2017 has to be broken still (IMO nobody from 2017 is a hodler yet.. it takes a complete crypto winter survival in order to become a true hodler!). It will need to potentially even drop below $3000 in order to do that. It's sad that it has to happen but this is how Bitcoin rolls...
I'm actually glad the breakdown finally happened, because it was inevitable and the longer it takes to bottom entirely out the longer it takes before we go bullish again.
It is just what is happening in the entire crypto market, prices are dropping.
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