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I wrote a post about how the price of Steem could further go down in the coming weeks because of power-downs, less investment and sell pressure, https://steemit.com/steemit/@kakradetome/massive-power-downs-versus-less-investment-why-the-price-of-steem-will-futher-take-a-hit-in-the-coming-weeks . This is actually a good thing because now, Steemitans who had less Steem power and wanted to buy an expensive $4 a piece Steem dollar at one point, but couldn't, can now buy it at about $1.07 - $1.20 per Steem power.

Think back to when Steem was at $4. I'm sure you were thinking, "Gosh! this is so expensive now ..." but still wanted to get in. You were willing to spend that much because of the constant rise of Steem and didn't want to miss out. A lot of us were praying that the price of Steem drops so we can buy it for cheap before it sky rockets again. Well guess what? Our prayers have been answered and now Steem is trading at about $1.07 to $1.20. If this is not cheap, then what else is? Now the price could still go down but call it joy instead of bad news because now you can buy Steem even cheaper. Think of it as a win win situation. Steem is serving as the perfect cryptocurrency to hold.

Powering up

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The price going down means we can now power-up for cheap. I repeat, the price going down means we can now power up for cheap. Do me a favor and take a look at your Steem power value now. Take note of it, check it in again after two hours and tell me whether it's gone up or down.

FACT: Steem power never goes down, it always goes up

Right! Steem power never goes down, even when the price of Steem goes down. It's the invention designed to keep the network stable and healthy long term as long as more people hold it. You get rewarded massively for holding it and the more you hold, the more you receive in return. Therefore you need more of it. You don't want to purchase more of it when it gets expensive as compared to now. You have an opportunity to help yourself and others, and get more influence on Steemit. If your posts weren't visible enough, you can promote yourself and others by purchasing more Steem power.

No I'll wait, it'll drop some more, and then I'll buy

Very understandable. If it does, that's great and you can still purchase it for cheap. But what if it doesn't. You've missed out then. You have to realize every moment of not owning Steem power is money not gained. If you had money to invest in Steem power but were holding it, waiting for the price to go further down before you buy it, then you may end up losing as the price could stabilize for a long time or even rise up. All those days not invested in Steem power means you missed out on the further Steem power to be gained just for holding during that time. Steemit is fun already and the more Steem power you hold, the more influence you have, the more fun it becomes. The more of it you hold now, the better. It's nice to be able to give out a cent at least every time you upvote a post. You feel great. It's fun and it's beautiful.

When Bitcoin started

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Bitcoins early days were like this also. Here's a chart of Bitcoin in it's early days before it sky rocketed to an all time high of about $1200. 

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Now remember it started from nothing and got to this point. There was high volatility even more fluctuations than what we're seeing with Steem but yet Bitcoin has worked its way to become a stable cookie. Given these reasons why Steem is better than Bitcoin, https://steemit.com/steemit/@kakradetome/7-no-nonsense-reasons-steem-is-way-better-than-bitcoin , we could see Steem rise to number 1 sooner than you think. These are early days. Crypto itself if volatile, Steem being young is another reason there's much volatility. And then there are power downs, which is a feature of the network. All these will affect the price here and there. But slowly but surely, with all the steady progress Steemit is continuously achieving,  just as Steem creeped its way to be in the top 5 currencies of all time, so can it work it's way to the number 1 spot, deservingly so.

Happy Steeming Everyone!