I love the steemit platform and see a lot of room for growth, decided to start investing a few months back with some extra funds I had. After the last fork I did the math and realized the middle of February would be the end of the power downs for those that started right after.
My two options were to invest over that period or wait til the end to buy the bottom. Not being very confident in my predictions I decided to dollar cost average over the last few months as the whales dumped that were going to. The fear of missing out is real and I did not want to miss an opportunity.
Luckily I joined steemit at the beginning of December and missed that first rise and drop of price. Looking at the charts just from a basic perspective it seemed like a good investment. I like long term entry points on charts moving sideways for the most part.
As you can see from the analysis I have purchased 2,846 steem for .5121 bitcoin over the period. At the current price of bitcoin that is an investment of $530.23 which to me is a significant amount. The current value of the purchased steem is $377.77 putting me at a current loss of $152.46. Now my break even point for the bitcoin value is .00017992 per steem which is currently about $.19 this does not concern me much though. The price of bitcoin was lower for much of the buying period so $.185 is my actually break even amount per steem.
Had I gone the other route and just bought .5121 bitcoin worth of steem today instead of over the period I would have 3,909 steem. This would be an extra 1063 steem in my account which is roughly 33% more than what I was able to buy, ouch! Doing my best to not dwell on that fact as I did not know for certain what the market would do and just had an idea.
The silver lining in all of this from an investment point of view is that I now have more than what I purchased in both dollar, bitcoin, and steem. By creating good content and getting payouts I am winning in a big way so far for this venture. My real break even price for steem if I stopped posting and investing right now would be $.09 per steem.
That would be the lowest point steem has reached so here is to hoping that is not in the near future. I plan to keep posting but will most likely stop investing for now. My powerdown will be around October if I decide to, according to the road map the mobile app will be dropping in Q4 which should cause some price increase. Christmas is always an expensive time of year so the extra funds will help. Thanks for reading, any analysis is appreciated.