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