STEEM: Time to Quit or to Stay?
image credit:@majes.tytyty
To face the blunt reality confronting us, the falling price of STEEM can be really frustrating and heartrending.
In the past twelve months alone, STEEM has crashed by over 84%. To make sense out of this statistics, STEEM was trading at a peak of $1 last September.
You probably do not need me to tell you that STEEM is presently trading below 16 cents. This is a nightmare for thousands of investors, including this writer.
The story was different when I joined Steemit in the fall of December 2017. Then, it took STEEM only a few days to reach an all-time high of $7.3.
Today, the evil day, it would seem, has come upon us - STEEM is trading below $0.16 as I write.
Unfortunately, no one can candidly tell whether it will crash further. Perhaps, below the all-time low of 7 cents.
Frankly speaking, the falling price of STEEM has caused unimaginable heartbreaks for both investors and regular STEEM users.
In short, I recently heard about a certain investor who abandoned an account worth about $10,000 STEEM and walked away. He would only return, I was told, when STEEM hits $3 or more. Then, he would sell everything and will never return.
The story above is familiar. Everyday, more people are getting frustrated on Steem due to inconsequential earnings and free-falling prices.
Many more investors are losing hope. Nobody is smiling. Nobody cares about anybody anymore. To make matters even worse, the altcoin market isn't showing any sign of recovery.
Why Not Thrash Steem and Let's Move On?
Why not thrash Steem and move on? This is the opinion of a couple of people who see the present bear market as an Apocalypse, as an end in itself rather than a means to an end. Well, everyone has a right to his or her opinions.
Permit me to say that the essence of this essay is not to cajole anyone to remain here on Steem.
In fact, you may decide to quit like several others have done already. But, remember that history never rewards quitters. Remember that the beginning of great things are usually unpleasant.
Image Source
For two major reasons, the present bear market presents a boundless opportunity for any wise investor to buy STEEM cheap.
Although, as mentioned earlier, nobody really can categorically tell whether STEEM has reached its bottom or will crash further.
At any rate, $0.16 remains a fantastic entry point for any serious-minded investor, considering that there were those who entered at $0.5, $1, $2 and even $3 and more.
Secondly, there is no better time to build your Steem Power than now. Apart from the windows of opportunities created by the new Steem for SP holders, the underlying mathematics regarding payouts on the Steem blockchain ensures that a larger Steem Power is distributed in a bear market than we can ever get in a bull market.
This makes it far easier to build SP in a bear market than one can ever do in a bull market. Therefore, a wise Steemian will exploit the present market to amass as many SP as possible ahead of the bull market.
I understand the hardship and the heartbreaks that have erupted from the crashing price of STEEM but this is not the time to quit.
In short, this is the time to buy STEEM, amass SP, and become a monster ahead of when the bulls come charging hard at us.
Until I come your way again, I wish you a full STEEM ahead. .
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Are you a minnow and you're already thinking of giving up on Steemit? Please don't quit. Kindly follow @Steemitcentral and use the steemitcentral tag in your posts to get some upvotes.
I am @gandhibaba, the young man who goes about carrying his magical pen, not his gun, in his pockets.
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Gif courtesy of @artzanolino
"In five years, if you try to use facebook, they will laugh at you. Steemit and other decentralised social medias will be so relevant... plus there will be no reason to have the fiat currencies." so I guess we should all stay
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@gandhibaba,
For me STEEM chain is the future of all blockchain related Social Media platforms. EOS went far away from the community blockchain. So weak hands leave at this panic moment and strong hands might stay (HODL)
!trdovoter 30
Cheers~
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Sure Steem is the future of social media and content based blockchain. We could have some challenges here and there but we will get there. Cheers!
Congratulations @theguruasia, 30% upvote has been shared with your successful call on the post that shared by @gandhibaba!
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