If you joined in June or the beginning of July, STEEM was over $2 a coin, but will we ever see that again? Right now STEEM is hovering around $.88 cents. STEEM has lost over 60% in about two weeks. It has been a quick and steep decline, but will it go back up?
The answer is yes, but it may take a while. It won't be August.
After Steemit launched in March of 2016, the value skyrocketed in July and even saw STEEM valued over $4. A ton of new people joined, and everyone thought they were going to get rich... then it fell again.
The price went from $4 in July to $.13 cents in November. It was brutal. I don't think we will drop back down to $.13 but ending up around $.50 cents is pretty realistic.
A lot of people became inactive at that time, but the ones that continued to post and accumulate fans and STEEM are the ones that made out like bandits when the price jumped back up like it did in May of this year.
It will happen again. I am sure of it. The price will come back, and spike and settle in at a higher number than $.50 cents. Over a long enough timeline, we could see spikes around the $7 range and the average around $2.50. The thing is, it takes time.
The people that joined last July had to wait until May to really see a spike in their account. All the people that joined in May and June this year, will have to wait a while too. We may have to wait a couple of months, a year or longer... but it will go back up.
The best thing to do is not to panic and get frustrated and bail on Steemit. That is the worst idea. It is time to double down. The people that stay during the lower value months will build great relationships with other people that believe in Steemit.
The numbers of posts and Content will go down, giving yours a better chance to be seen. Now is the time to grow your account and meet new Steemonians. If you do that now, when the price does go up, you will be in a wonderful position to capitalize.
The other thing is... with the value being low, it is much less of a temptation to pull money out. You can reinvest in SP and grow your voting power. Do that now, and you will be amazed at how powerful you will be when a lot of new people show up during the next spike.
I hope this helps. STEEM will go up, but it make take some time. During that time if you focus on being a great Steemonian, you will reap the rewards when the value goes back up.
Good luck!
To my followers, you are the stamp to my letter.
click here!This post received a 3.7% upvote from @randowhale thanks to @walkingkeys! For more information,
I joined in June and see the incredible value of this platform even though my account has lost over 50% of its value. I consider my house to be made out of brick and even though the big bad wolf wants to blow it down, I am in it for the long-term.
HAHAHA great gif! I agree. I'm here for the long run too. We'll show that big bad wolf...
I second everything you share in this post, @walkingkeys.
I joined a month ago, and have seen the value of Steem drop significantly since then. But I'm in it for the long term, because I love the whole idea behind Steemit.
What I have noticed is that a lot of posts that are doing really well now, are written by Steemians that have been building their following over time, often for a year. And just like you described: they kept working at it when the rewards were low.
Because they believed in Steemit and its community, and enjoyed what they were doing.
The same goes for me. My first posts did nothing. I just published my 'IntroduceYourself' post yesterday, and that one is trending atm. But I'm very much aware that that might be a one-off, and most of my posts will not do much again for months.
I'm okay with that.
I'm in it for the long term. Just keep building, connecting with other Steemians regardless of what the price of Steem is. It will go back up again. And those that have dedicated themselves to Steemit will reap the rewards of their labour, whenever that is.
That is awesome to hear. Sorry for the late reply. Getting caught up after a tough week a work. Just keep working at it and we'll be one of those people in a year or less. Thank for the awesome reply.
You're welcome, see you at the top 😉 !
What you said is nice
Thank you!
If it goes down to anywhere near $0.13, it's a shopping spree.
I agree, but there are a lot of people buying in at $1. I'm going to wait until things level off. Thanks for replying.
LOL I should of known it was you.. I open this up and it is my friend.. I have been asking the same question but you know the old adage, what goes up must come down. Now let's reverse that .. I don't feel like typing it again.
I am probably wrong because I have no clue in here, but it seems to me lots of people are taking money out lol..could that be it?
To my friend you are the words in my head when I read your post.
Thank you for reading and the ongoing support.
I'm sure that people taking money out could hurt, but it really doesn't matter why, that is the nature of investing. We can't control the why...
I can tell you, if it goes up to $3 in a year, I will pull out some and hold it and buy back in when it drops again.
HAHAHAH, I'm glad you read the last line. I try to make each post different. lol You are awesome.
You are 100% correct! I am all in for steem and I'm no noob to software, social networks (directed a multimillion dollar tech team building one myself for years) and cryptos (in since 2010).
Stay put people. And do the work now, so you can reap the rewards later!
Thanks, man. I know it will come back and stronger than ever. Until that happens I am going to post great content and read and reply to great Steemonians and be ready for the next rush.
You have a great mentality. Thanks for adding your thoughts.
You're doin it right :)
Sharing some wise wisdom to others, Thank You!
Thank you, and you are very welcome. I love doing it. Thanks for the reply and ongoing support. You rock.
Sometimes the cure for low prices is...low prices. Keep dollar cost averaging, you will be happy you did in a year or two.
I agree! You are a wise man. I appreciate your comments. Thanks for taking the time to read. In a couple of years, we'll be laughing about this moment. lol
I'll stay if you dooo. 😝
Deal! Steemit wouldn't be the same without you!
Should be interesting with all the crypto in a tumble at the moment. Thanks Bitcoin - sheesh. I agree, hang tight and wait for the right time to buy and stay the course. Steem has a lot more to offer than a mere cryptocurrency. Steem On!
Thank you Jason. You got a new follower... yeah, thanks bitcoin... lol HAHAH. I agree there is so many great reasons to be involved with Steemit and getting paid is just the kicker. Thank you.
You offer very practical advice and I concur!
I am planning to "buy in" as soon as I have assets to increase my own Steem Power. I'm in for the long run.
This decline is good for the community, bad for the gambler, good for the investor.
The community should see less "trash" posts because trash is MUCH LESS LUCRATIVE
Gamblers will start to back away because there is no "quick turn opportunity"
This gives content creators and investors an edge. This decline is our opportunity to define Steem as a creativity based asset and seperate it from the BTC rollercoaster!
That's my ...
Don't be Scammed...
Mine for yourself with Nicehash
Or sell your hash time
You are so right... I think it is a big opportunity to both separate from BTC a little and establish the Steemit brand. Great two cents worth of knowledge!!! I'm glad I'm not too much of a gambler.
Things are going to settle down again. People will begin to leave as they see there rewards continue to fall, and the lucky thousands of us that stick around will join the ranks of whales!
Yes!!!! You got a new follower because I like to follow future whales... lol
Thanks for reading and the reply.
I am a very skint college student (as most are) and Steem dropping to $0.50 would be a blessing indeed! Even my minuscule investments would actually be quite significant by the time the next spike comes. Until that day though, I shall continue to write the best content I can and make some new friends. Excellent post :)
It is true, you're investments would be worth more and converting SBD to SP would also be good because SBD would be worth more than STEEM. You got a good plan, keep up the good work.
I dipped out last year while the price was low, though not because of that, but I won't make the same mistake again!
I am glad to hear that! I like having you around. I think this is the time to really double down. Thanks for the reply.
I'm using this downturn to my advantage, buying more Steem and converting to Steem Power so my upvotes are worth more. In the long run it will pay off big time.
I agree. If we are here for the longrun, we have to expect things like this. We have to be smart and reinvest money or time into growing our account and it will pay off bigtime in the future. I think we have a good strategy my friend.
Thanks for sharing this. You have my upvote and i will follow you right away.
Steemit is a wonderful community, the rewards just adds to how wonderful it is. With or without the reward, i am here to stay!
I totally agree and will carry on nevertheless. I work for the fun of it and the Steem not the short term dollar amounts. I'm happy to hold on for the long term. It can be demoralising if you focus on the $$ amounts so my advice is don't. Have faith in the fundamentals of the Cryptocurrencies and hold firm.
I'm long term on this too and sheesh already look at the turnaround on the markets - hit nearly $1.50 on Bittrex today. It's funny - a year ago I would've let emotion run the gambit here and lost my ass off on crypto - now it's just a hold no matter what. I'm having fun here regardless - the extra money has helped, and it's been fun watching everyone grow (including myself) since I joined here. I've been quiet the past few days - focusing more on my real life situation and getting back to a good place - but as of today things are finally moving in the right direction. I got my passport back! So I'll be back on here (and Discord) shortly and Pandacast will finally come!
Huzzah for Steem and crypto - it's definitely helped teach me a lesson in patience already and I'm really glad this place was shared with me by @aboundlessworld
Yeah buddy, hanging there will pay off for sure.
I tried dropping my latest in dm for ya but still not working.
Take a look bro. Not a funny story, serious shit dude.
For sure brother, I'll take a look. I just posted one up a moment ago as well - it's been a good day!
Lol. You think $0.13 was low? We dropped to almost $0.7 earlier in the year!
But you're right, it's those who keep pushing in times like this that'll be in position to take advantage of the price spike.
I believe we will see it go back up, ride the wave and wait it will rise again and be up to where it was next month, don't panic, it is likely to drop again and bottom out before the month is up or right around the 1st of the month, but I think this time next month it will have completely recovered. I am optimistic it won't take as long to rise. But even if it does take a while, I am in for the long haul.
That is some great advice. I agree with you 100%. This is the time to keep active, build our followers and buy more steem. The sky will be the limit when the price soars again. Thank you for sharing valuable info :)