Investors, Creators, Developers, Witnesses… I think all are feeling a little hurt from the market this Sunday morning. According to Coin Market Cap, Steem is currently sitting at $1.44 and Steem Dollar closely sitting at $1.46. This is quite a drop from the ATH of $7.31 and $13.81 respectively. So with such a hard drop, is this the end of Steem? Can we say the bubble has finally popped?

I think it’s important when looking at prices of Steem to also take into account the entire crypto market. The entire crypto market has taken a hit this year. Bitcoin is down to $6,857 from it’s ATH of $19,535. So we are indeed seeing a bear market across the board. This means that there is nothing wrong with Steem individually, rather there is something wrong with the entire market.

In my time as a Forex trader, I had the pleasure of experiencing quite a bit of losses. It was part of the game. I can’t say it was fun, but it certainly taught me a lot. There’s something we refer to as the market cycle which you can see in the chart below. It’s actually interesting because the price of bitcoin correlates very well with this image as well.

Here’s a picture of them overlayed together.

Interesting right?

So as you can see, there are many emotions attached to the market cycle. The market is not designed for you to win. It is a paradox. In fact, everything you believe to be true/right is opposite in the market. Many people are feeling the hard effects of this bottoming out the crypto market is providing, and thus staying true to the human tendency to let go of what hurts (aka. Selling crypto assets at a low).

I don’t know how much further this bear market will continue, but if you look you will see that we are nearly through with this bear cycle. This is not the time to sell our Steem. This is not the time to give up on the platform. Rather this is the time to give it our 100%. Steem is not dead, and it is not going anywhere. If you leave now, you are missing out on the greatest opportunity you may ever face.

Do not let markets control you, rather control yourself over the markets. Steem is alive and strong, and we have many, many projects to prove it. So with that said, I’m going to say something I haven’t heard said in a long time.

Buy and HODL if you are able to!

Steem on everyone!

Disclaimer: This is in no way to be taken as trading advice or council. This article is strictly opinionated and is not liable for any losses that may occur based on your personal trading actions.

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