Vlog 425: Where is the bottom for STEEM?
7 months ago I woke up in the middle of the night, refreshed my phone and saw a post by Steemit Inc. that they had to lay off 70% of the company.
It's December 2018.
It was the first and only time I felt real fear about my investment.
Markets tend to bottom when fear is the highest and also this time they did.
You never know when you are in it but in hindsight, it's usually visible in the charts.
STEEM bottomed at $0,2007 cents (on the left) when my fear was the highest.
Then for 7 months, we found an uptrend. Not as amazing as other projects but an uptrend none the less.
I was happy with it.
And now that 7 months uptrend just got wiped out in 3 weeks and we are back at 21 cents. wow!
But a lot of things changed in the last 7 months.
Therefore STEEM at 21 cents today doesn't instill me with the same fear as it did in December 2018.
In fact, It's the opposite for me.
I will never have a bigger opportunity to grow my account.
I bought some more this morning.
I talk about it more in my vlog.
I am part of witness @blockbrothers.
Please consider us for your witness vote if you think we deserve it here:
Vote for @blockbrothers via SteemConnect
Set blockbrothers as your proxy via SteemConnect
We are the creators of Steemify a notification app for your Steemit account for iOS.
Get it Here:
▶️ 3Speak
@exyle,
This is not a drop, this is the best sale price that we can't see again, never ever!
$trdo
Cheers~
Sorry, @theguruasia, You can not Reward TRDO Token, You must have Atleast 100 TRDO tokens to Distribute and use this Bot.
To view or trade TRDO go to steem-engine.com
Token distribution bot developed by @swapsteem & @ali-h
Even the last year has been full of developments despite the bear market so I have to agree that it seems undervalued. Probably driven by the imbalance of supply but feel that demand is starting to slowly make up for it! Looking at the Steem Engine market alone makes one feel that more Steem Power will be needed to support that underlying growth and demand.
Posted using Partiko iOS
Yeah the timing can make you a bit unhappy, I bought some sbd @ 0.91$ yesterday expecting a quick 9-10% gain and now it's @ 0.83$ I'll probably buy more if it hits 0.80$ and earn a 20% gain in the long run or turn it into 1$ of steem.
Buying the bottom is impossible I find. It's why I dollar average in.
You can't convert it to a dollar anymore. When it passes the 10% sent ratio, it is not worth a dollar anymore.
Posted using Partiko Android
This drives me crazy that I don't have the liquid funds to purchase some more. I think it is awesome that people are able to with the prices like this though. I just have to keep grinding away and get rewards the old fashioned way. Those are pretty hard to come by though.
STEEM is not as important as BTC to be a subject of separated analysis. The price is strongly related to the BTC. 90% of crypto being bought right now is for speculation purpose. People do not care about technology. Who cares about coinmarketcap's 81th coin with zero-marketing?
That is the reason of the price level.
I've have the same I bought all I reasonably could. The steem network improved so much the last 7 months I've gotten very confident.
Everytime the price doesn't reflect that in a investment you know you got a good deal 🤝
Just didn't bought it yet it's good that I didn't oh I'm baking fries in schiedam on the construction site there. I said it's too much work to calculate so I went to sligro and bought 40 frikandellen 5kg fries and some other stuff the professional 5litre frypan I already bought that.
Oh news news if you play @drugwars look out you get a full warehouse after creating your new base I didn't know that so I got cleaned out by @ikarus56 with all3 greendeliverence accounts so tell everyone look out for that don't worry about him I will personally clean his account out. 😉 drug wars well I just build normally but with this action he officially declared me a war.. I am still struggling with my sickness work and medication so I didn't login to all my accounts this morning because I have a bad day kind of thing. I level them without a bot and it takes like an half an hour to update them especially with the new login.
Mark... I still have the 64k future... And I think that will be doubled soon? Because they come back to steem at the end of July I think. You must get those future back to the site before the airdrop.
But most important look at your resources when you plan your base.. they will rip it off of you.
Posted using Partiko Android
I feel the same for Steem when ever i bought it goes even further down, like catching a fallen knife...
Posted using Partiko Android
Yeah, it is in a death spiral Unfortunately
Posted using Partiko Android
We need to SPS our now so we can start making progress again. What is going on with the testnet? I hope we can get a date for the hardfork soon.
The bottom is likely less than $0.05 which will be a few years out. In the mean time people will extract what they can so they can level up to other cryptos that don't get drained and have lower inflation.
Posted using Partiko Android