I'm up $30 after a week on the platform - although I'm probably going to power up instead of buying guitars. There's definitely money to be made on the platform if you put the effort in.

I'm concerned that a large sell-off like this could damage the crypto. Up until now Steem has been relatively stable in price (In comparison to other cryptos). Having a large price dropoff could trigger a buying spree / selling spree, and lead to a lot more speculative investment by people looking to make a quick buck off the price changes. This doesn't bode well for the average user who's holding a moderate SP balance, as it means the value becomes much harder to predict.