Buying the Dip!

It has been a couple of nerve-racking days for me since the beginning of March as I saw the price of the continually increase. Normally, the beginning of the month for me has always been the time I would deploy my dollar cost averaging strategy to buy more Steem. However, as the price of Steem rose decoupling itself from the rest of the market which has been relatively flat, I was concerned of it being a FOMO driven decision. So I decided to hold off my purchase until the opportunity of a pullback came.

Source

Before I went to bed last night I saw that Steemit was still under a DDOS attack and thought that it could lead to good opportunity to buy some Steem if the price reacted to the news. While I am not sure if the pullback we had today was related to that news, I closely watched it during the day and it seemed to have held some good support which I believe is around the 200 day moving average. The day at the office kind of got in the way as it continues to be pretty busy but soon after lunch I was finally able to deploy the purchase.

It took me a while to think about the amount I wanted to buy as I had been considering to add bigger amounts as the price has increased and could be signaling a bottom. Since the current price remains below my total average cost which now is approaching $0.80, I have been thinking of increasing the amounts of my purchases to further take advantage of these prices. However, one concern I continue to have is my emotional connection to Steem and whether these purchases are really FOMO due to the shift and sentiments we have seen as a community over the last couple of weeks. Therefore, I decided to buy an amount somewhat above what I have been averaging the last couple of months but with the thought that if the decline would continue, I can step in and buy some more despite still being in the month where I have already purchased some.

In retrospect, we had some great deals on steam was between $0.20 and $0.30 and like many, I wish I would’ve bought more. It could have given me more ability to distribute more Steem and Steem Power. Now, the question becomes what do I do with this liquid Steem? I have been preparing a list of things to do with it to help my progression in the ecosystem. First, I have continued to be very positive on some of the projects that I have delegated to. For example, I really want to continue adding to my delegation to Hive account@steembasicincome. This is a great opportunity will Steem is still relatively low in price to add to the pool of great community members that can benefit from those who sponsor. The project has increasingly provided information and transparency to demonstrate their sustainability. Given what seems to be a pick up of engagement of not only the community but its members, it seems that that its running a little low so I will be looking to add to that delegation in the coming days.

I have also been anxiously watching Hive account@ocdb which is a great project that promotes a number of great curators and content creators in the ecosystem. They are still in the process of organizing a re-launch of their bid bot which is tailored to provide all benefits to both those who bid and those who delegate. While I have not been an avid user of bots in the past, I have gotten some new perspective over the last couple weeks thanks to that that community. As my posts have continued to do well, I want to find ways to incentivize those that I engage with here. Therefore, I am considering to start using these bid bots in order to provide more curation rewards to those who provide me an upvote. My thought is to send the bid up to a day after the post in order for all those who generally provide an upvote have time to do so and benefit from the curation.

However, first things first! I need to continue my trend of posting good content on a consistent basis to hopefully get whitetlisted in their community. I engage in a number of posts by content creators from that community so I hope that once the project relaunches I will have an opportunity to gain access to this great tool. It would encourage me if there is any feedback or recommendations I can do to improve this likelihood to do so below in the comments as it could help me continually improve the quality of my content. Please, feel free to let me know your thoughts in this or any posts.

I am also considering holding onto some liquid Steem for other purposes in the future. Now that there will be a number of exchanges working on Steem related tokens, opportunities may present themselves to help continue my growth in the ecosystem. In addition, my competitive spirit continues to grab my attention as the success and enjoyment I have been having as of late on Steem Monsters has me considering to improve some of my cards. This may have me using some of that liquid Steem for these purposes. Lastly, the end of the month will also feature more SBI sponsorships for those that have been consistently engaging around the platform. I am looking forward to some of the results from the #tenkminnows initiative in order to help in future growth with these SBIs. Let’s all grow together and make this a place of motivation and success!