The pain of my ear infection is starting to subside!
But sadly it's being replaced by another pain...the one you feel in your wallet.
Auch!
A very red day has befallen before us.
For STEEM I have been following this trading channel (daily chart) I drew a while back.
And on the 19th of December 2019, we will hit $0 STEEM.
But who knows? It might not stop at $0! We might hit negative STEEM.
This will mean that if you want to sell your STEEM you also will have to give away some Bitcoin with every sell otherwise no-one wants to take it off your hands.
(I'm being sarcastic here, don't worry you can always sell it to me for $0).
Also, I don't believe we will go to zero.
What's really going on?
The simple gist of it. Everything is tied to Bitcoin still and when it plunges it takes everything down in its wake.
Good projects, Bad Projects. It doesn't matter. Everyone in crypto is feeling this one.
I have done enough research that I can say that Steem is a good project and because I believe that I see it as an opportunity.
So, I stick to my personal plan.
I'm still dollar averaging in on STEEM so obviously I had my best buy this morning since I started re-investing.
A little under 800 STEEM I picked up for what I paid for 650 STEEM, not too long ago.
What I like about Steem is that you can check if you are the only one buying. Everything is open here.
And according to the Powerup statistics I am not.
Since 14th of September 3 million STEEM was powered up and there is 2 million less liquid STEEM on the market.
I wish that was me, but sadly it's a lot of other people too!
But on the other hands. It's not bad though for DPOS, let's get that STEEM spread.
What isn't fun, of course, is that every time I or you buy we 'lose' money.
It's been going on for a while.
I say 'lose' in brackets because it's only a loss when you sell. But it's not always fun.
When you buy in a downtrend everytime the price goes lower I think: "should have waited".
But I simply don't know where the bottom is.
Luckily STEEM is approaching levels so low compared to the amount of liquid STEEM out there that 'only' 15,4 million US dollars would buy all the liquid STEEM out there.
I think those are not unreasonable amounts to fathom.
The STEEM I bought is working for #newsteem in the background but it's not enough to offset the loss currently.
How long will this pain last from now on?
Sadly, I can't tell you.
Welcome to crypto, it can be lonely right? Even on a social blockchain.
Why is this happening to me! (it's happening to everyone)
When the markets reverse it will be glorious but until that time grit your teeth and keep building.
I am part of witness @blockbrothers.
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