Now That Steem Is Down To $1.40...
Had you asked me if Steem would drop to such lows at the start of this year I may have laughed it off. But the bear market is here we're down to $1.40.
1 USD realities doesn't seem too far away now!
I've been buying Steem all the way up and then all the way down with most of my payout rewards. When SBD was $15 some of us bought 5x Steem. It was just great to be able to buy more Steem with the SBDs received per post. Even though at the time SBD prices were great for cashing out some of us just stayed put. For better or worse I was one of them!
It certainly allowed me to increase my stake over the past few months. Maybe I should've cashed out more but it's fine.
But a lot has changed in the past 6 months. Voter influence has dwindled the most if anything else. I don't really mind the low token prices as it's a good entry point for new investors but sliding influence is a matter of concern to continue powering up. How many more tokens do we need buy before our votes makes sense to us?
Perhaps more importantly, how many can we actually afford to purchase without ultimately relying on a bid bot? I'm sure many have similar thoughts.
Funnily I'm still buying at these prices with when I see Steem dip in satoshis against BTC. It's gotten a lot cheaper to buy in the past few weeks already. So I'm waiting to see if it would get any cheaper so I can pick up a few more Steem.
Markets are cyclical and those who can wait it out usually tend to profit. It's always good to stick to a select few tokens instead of holding one too many. For me Steem has been a good hodl over time owing to the fact that it generates income by way of influence over the reward pool.
Nothing else out there does that so well at press time.
How can we improve the price of Steem?
We can do our bit to help put some upward pressure on Steem. If you are considering selling SBD on the exchange and eventually buying Steem, you should sell SBDs on the internal market instead and buy Steem with it and power up.
This will exert downward pressure on SBDs for sure but also improve the price of Steem if a large enough set of people did it. You can also upvote @burnpost to help make this happen if you have VP to spare.
Let's hope the market doesn't fall any lower but if it did, I'd prefer BTC remain stronger so that I could buy few more tokens of Steem. But having made that wish, I wouldn't want to go back to the 10 cent days of Steem either.
If you like my work kindly resteem it to your friends. You may also continue reading my recent posts which might interest you:
- Let's Watch This Fun Video From International Steem Meetup #1—Malaysia
- Why You Should Vote For @firepower As Witness—Witness Campaign Post From India!
- Steem.Chat Contest #31
i actually am not surprised at all with the price. i was expecting it and have said it to a bunch of people when the price of sbd was 8$ that it won't last long and steem will go down to 2$ while most of people were too optimists saying steem's price will reach 10-20+$ which for me is totally absurd.
I think to the question of how to improve the price of steem the sbd isn't the answer. For sure it's a solution that will work but it's a short time one. i think we need to look for our community first and cast aside bots, fake accounts, people that try to take advantage of others, spammers etc etc. If we have a more healthy community then nothing can stop us. Now the majority only cares about fast money something that make the quality people to live this platform especially now that price is low and as i mentioned the place is crowded with scammers ( i have many words to call them :P )
10 cents would be bad to go back to. But, if it was a short term thing, I wouldn't mind picking up a few thousand more steem for a few hundred dollars. I wish I had bought more than I did last time it was that low.
Exactly, i believe, that in the crypto world you must learn to de-attach your emotions from your investments and it is crucial to know that, when a market is extremely inclined at a downtrend, its time to pick more of those tokens up and when its inclined at an uptrend its time to sell those tokens you bought on the downtrend.
So see this as an opportunity, everything is an opportunity its just a matter of with what mindset your lookinng at the equation.
-Cheers!
It’s been dropping like crazy hasn’t it,.. I’ve noticed that it seems less people are using steemit at the moment, or it seems that way. I guess with the low price people are loosing interest, BUT it’s stull awesome how here we have a blog platform the we can actually make something from. I’ve had some annoying issues with steemit the past few weeks (that I posted about earlier) but if we all stick to it we will all still be here for the meteoric rise next year when cryptos explode again! 😀
Good info!
This is not about market shifts, there are fundamental shifts happening in this space. The crypto financial market model is not sustainable . After experimenting with DPOS consensus for 1 year ,I have come to the conclusion that it is not the best approach. many new consensus algorithm have emerged and its a matter of time new solutions with better value proposition is available
I Personally think... that this strong drop ...can make a very strong price increase up... since the recent downturn does not come from big sales, but someone deliberately makes hacking attacks. ( As are politicians do, if there is no problem, then create a problem ...that they can offer some new solution, what they like and can use. Idea which they can only control.)
Thanks for post, yes it is not so good times right now, across the board.
Guess we just have to hang in there, great time to buy if you have any spare cash lying around, which most don't have. I blame the December issues with the big guns jumping in and wrecking everything for the little guy, wish they had just stayed out of it, we would still be growing organically on our on "steem" pun intended.
Onward we go... full "steem" ahead :-)
I want to cry
@tsnaks no crying allowed... stiff upper lip
sniff ok sniff I will try
this is really ridiculous 🤷🏼♂️🤷🏼♂️
the entire crypto market is crashing and burning. perhaps it's a good time to enter the market. perhaps it's not. nobody knows unless you try.