With STEEM So Low Right Now, Will It Ever Go Back Up?
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.
This post received a 3.7% upvote from @randowhale thanks to @walkingkeys! For more information, click here!
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!
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.
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.
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.