STEEM falls under 0.2 USD - Time to cut losses or dig deeper?

in steem •  2 months ago  (edited)

As I predicted last week, STEEM re-tested the $0.21 low, and has now fallen through, plunging below 20 cents to 0.198 at time of writing.

Nominally, it's down 97.7% from its all-time high set in early 2018.

Since 'opening day' in 2016, the STEEM price measured in BTC has fallen from 0.0015, to 0.0000168 today. That's a purchasing-power loss of 98.9%.

It's my estimation that the people remaining on STEEM are 1 or more of the following:

  • hopeless dreamers
  • not good at math
  • bot operators
  • whales
  • unable to transfer out (ie: lost active key)
  • alternate accounts of bitter ex-users
  • good people who try to help good causes and end up being manipulated/abused

I'm a little of the last one, but mostly the first one. How about yourself? Any categories I missed?

Is it time to cut losses, sell for any other currency, and get what we can before it's all gone?

Or is now the time to dig deeper, invest more, double-down, and put our money where our mouths are?

Put more simply: Is Steem ever coming back, or has it seen its best days already?

DRutter

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Very good question... resteemed to my Steem-centric followers for more opinions.

We're also more than double the all time low.

Maybe I'll give up on Steem when the next alt-season hits and Steem doesn't bounce back. Maybe not.

I think we have to ask ourselves who is selling and who is buying. All Steem will always be owned by someone.

I think a huge amount has been moving from outside circulation, into circulation. The available supply has doubled, tripled maybe. It's hyperinflation of a sort.

You know you may have left someone off the list. Perhaps there are people who just really enjoy the platform.

Can you explain? Are you referring to people who are resistant to change and have trouble adapting to new situations? Or is there something about this blockchain that can't be done anywhere else? Maybe it's the community (certain people or groups that remain here) which keeps some users around, knowing if they were to go somewhere else, those people or groups wouldn't be there.

I am speaking of the community. I am member of #steemsilvergold which I think is one of the greatest online communities anywhere. I also have an account at WEKU which is a complete knockoff of Steemit but I have very little interaction on that platform.